Posted on 11/04/2010 9:51:15 AM PDT by Razzz42
I might add China is sucking up any commodity they can get their hands on.
Yes, I got the dates wrong. Then again, Carter was such a disaster that he probably screwed things up retroactively.
“It started with a shortage of corn, because of the southern corn leaf blight in the early 1970s that wiped out a good portion of the crop. Yields and production dropped dramatically in 1970. At that point, corn prices jumped and livestock producers, if they could even find corn, couldn’t afford it. They responded by cutting their herds.
“By 1973 the inflation rate was 9 percent; the Dow-Jones average of industrial stocks fell 36 percent between November 1968 and May 1970; and the unemployment rate reached 6.6 percent by the end of 1970. Nixon imposed wage-price controls in 1971.
“The price freeze on beef shut off the supply to the public. The price of live animals was not frozen, and packers could not afford to buy at uncontrolled prices and sell at controlled prices. The number of cattle slaughtered at packing plants dropped by 30 or more percent. At least 40 plants shut down throughout the Middle West.”
Yes. Shopping night will now be an adventure rather than a chore.
Uur-rah!
Either way, it's the best date night out we got.
I remember the Carter years well.
He was similar to Obama, very unqualified, a total unknown nationally before the primaries, but very lucky relative to the election timing.
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