Ronn! wrote: > > Being there. > > A faulty memory is a poor cite. Not only wasn't inflation anywhere near 20% during the Carter administration, it wasn't anywhere near 4% immediately prior to his election.
Here's another cite to go with the ones already posted: http://inflationdata.com/inflation/Inflation_Rate/HistoricalInflation.aspx?dsInflation_currentPage=3 And here's a quote from William's reference: Carter cannot be blamed for the double-digit inflation that peaked on his watch, because inflation started growing in 1965 and snowballed for the next 15 years. To battle inflation, Carter appointed Paul Volcker as Chairman of the Federal Reserve Board, who defeated it by putting the nation through an intentional recession. Once the threat of inflation abated in late 1982, Volcker cut interest rates and flooded the economy with money, fueling an expansion that lasted seven years. Neither Carter nor Reagan had much to do with the economic events that occurred during their terms. Doug The Greatest enemy of knowledge is not ignorance, it is the illusion of knowledge. --Stephen Hawking _______________________________________________ http://www.mccmedia.com/mailman/listinfo/brin-l
