So you would agree that the high inflation which people blame on Carter was not his fault?
Correctly or incorrectly, presidents are credited with the economy that people experience during their administration.
Carter was so feckless in so many areas that a lot of people lost all confidence in the US economy, if not in the country itself. Whether it was the OPEC-crafted gas crisis or his inability to do anything about our embassy staff being held hostage in Iran, Carter did a lot to create the very 'malaise' (his term) that enveloped the country during his presidency.
No, I may agree with that to an extent. Carter was bad, but the problem, like most presidents, is his advisers and those he appoints. In particular, the Fed's Chairman and its banking policies. Most Presidents seem to be along for the ride, as business makes its trial and error. But maybe my perspective is based too much on the Internet Boom/Bust of the '90s.
Correctly or incorrectly, presidents are credited with the economy that people experience during their administration.
"If a million people say a foolish thing, it's still a foolish thing."