To: melt
Jimmah let the mullahs rule in Iran, gave away the Panama canal, and gave us 18% inflation. Great president.
3 posted on
01/04/2009 3:56:32 PM PST by
Nachum
To: Nachum
"Jimmah let the mullahs rule in Iran, gave away the Panama canal, and gave us 18% inflation.
Actually it was only 13% inflation as I recall. This inflation was the predictable result of the Nixon administration's dumping of money into the economy to stimulate the economy, combined with previous laws (Reg Q comes to mind) that capped interest rates that would've otherwise mopped up that excess money.
Carter's real problem is that once his initial ideas didn't work, and once it was obvious that his initial staff wasn't up to the task, he then tried to lead by consensus. In other words, he held his finger up in the wind to figure out which way the winds were going, in order to guide the ship. Clinton did the same thing, but was a good enough politician to get away with it (plus the economy was good).
The timing of this article is interesting -- perhaps the Left is hearing the ghosts of Carter Administrations past in the words of Obama too?
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