-oil embargo
-DD interest rates and inflation
-iran hostages
-prime rate over 21%
-1980 olympic boycott
Koaj,
If I recall you werent around much for the Carter era. I was younger myself but do recall some of the things you mentioned and I have to comment on a few things you bring up here.
The president of the US has ZERO and that is a big ZERO control over interest rates. The federal reserve controls interest rates, thus the Prime rate. Carter had no way of changing federal reserve policy and it has nothing to do with him. Just like now, Bush doesnt deserve the credit for historic low rates, that is federal reserve policy plain and simple. The oil/gas issue was completely caused by the inefficient vehicles made during the time and the inefficient production methods that our industries used to make raw and finished goods. Can you even imagine the effect 65 buck oil and 3 dollar gas would have if our vehicles were pieces of sh!t running 5-10 MPG?
I could really care less about the Olympic boycott, who cares if the Soviets were peeved at us, who considers this a presidential event?
If it werent for the federal reserve eliminating our view of M3 and pumping HUGE liquidity (Mexico style) and killing the value of the greenback, I think we would be experiencing some heavy inflation. These policies will return on us, not if but when.
There is no comparison between Carter and Bush. The comparison really should be between LBJ and Bush II







