Posted on 06/12/2021 3:32:19 AM PDT by Kaslin
Comparisons are being made of our current economy to that of the Jimmy Carter presidency of the 1970s. President Biden's policies appear to parallel those of the Carter administration. We haven't heard the term "stagflation" in the news for the past forty years. That's the term for high unemployment and high inflation. It's measured by what is called the Philips Curve. There certainly are similarities to our present economy and that of the 1970s.
Presently we are looking at inflation, slow job growth, shortages of materials, and even long lines for gasoline. While the gasoline shortage was only a temporary one affecting only a portion of the country, it was caused by a pipeline shutdown. This was exacerbated by the fact that President Biden shut down the Keystone Pipeline his first day in office. Prices, however, continue to rise due to the lessening of supply.
Did the poor economy of the 1970s begin under Jimmy Carter? Not really. Looking back, we know that as early as President Nixon's first term, he imposed a wage price freeze on the United States. On the night of August 15, 1971, he made that announcement in a nationally televised address. We were also hit with the Organization of the Petroleum Exporting Countries (OPEC) oil embargo of 1973. This led to long gasoline lines, gasoline rationing, and inflation caused by increase in the cost of oil.
This inflation lasted throughout the 1970s. President Ford, who completed the last year and a half of the Nixon presidency, made attempts to deal with inflation. His means of dealing with it was to have people wear WIN buttons. WIN stood for "Whip Inflation Now." Some people might say it was as effective against inflation as a mask mandate is in stopping a pandemic.
(Excerpt) Read more at americanthinker.com ...
Stock up on necessities
All caused by these criminal rats, period. Didn’t hear about this with trump did we
'Twas a wee bit more than a stupid BUTTON!
The gummint was gonna show private industry how to address the employees cry for MORE MONEY!
We simply held raises to 5.5% in the federal sector.
That fixed things!
While the outside world was getting double digit raises, we poor slobs kept falling farther and farther behind.
No; we NEVER did get the pay caught up to private industry levels and there were LOTS of folks that were able to leave the government plantation.
Exactly.
Funny how the American electorate tried to head this off, but were overruled by American elites working with China.
We’re Not Going Back to a 1970s Economy. It’s Worse than That.
The RATS want Power. And how do they get it. Simple raising rates so that we have to depend on the government for handouts. Why do you think the blue states is giving people the extra unemployment. Simple, let the illegals get the jobs they should be working at. Once accomplished the blue states will then drop the extra unemployment and guess want no jobs. Wish the dumb and dumber would wake up. They won’t.
Keep an eye on AZ audit. Everything else are distractions.
John Maynard Keynes
Hyperinflation in early Soviet Russia
Lots of confusion as to what is the actual cause of inflation, much of it deliberate. Its source is the expansion of the money supply, The Mises Institute keeps track of this expansion and it's not good news. We are likely to see the highest inflation of the dollar we have ever witnessed in our lifetime.
The Biden administration has said that they want to move us away from fossil fuels. What I see with that is rising energy prices, especially during the winter home heating season. What that tells me is that reducing bills in the winter is a good idea, so stock up during the summer, grow your own if you can and put it up. Doing that will also reduce the amount of communicable diseases your family will be exposed to on their produce this winter, so win-win.
America does not need a war on oil
America needs a war on progressives
Welcome Back.
Worse.
They are going to merge the 1966 Communist Chinese Cultural Revolution with the 1923 Weimar Republic.
When the Trump Tax Cuts expire without Biden renewing them, fasten your seat belt because inflation will roar like a Lion.
Put some supplies away because you may need them.
I had a tagline that said...
Neo-fascist = Neo-communist
You are correct. Gerald Ford’s presidency began on August 9 1974 and ended on January 20, 1977, a period of 895 days. The author obviously did not do a search.
Absolutely!!!
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