Obama is a kind of Jimmy Carter II. They both market themselves on hope and change.
Former President Jimmy Carter says he will ask the Obama administration to remove the militant Palestinian group from the U.S.-designated terror list, just as Hamas says it foiled a bomb plot against Carter..
Carter to Obama: Remove Hamas From Terror List - Political News - FOXNews.com
*grumble* They allegedly save one life and murder hundreds/thousands of others. He's already been one of their biggest supporters in the west.
Yes. The similarities are uncanny!
What was it Carter said he was combating? The Misery Index? Yet somehow he managed to nail us with 21% interest rates and unemployment rates near 14 percent?
It's sad how much we've forgotten in 30 years.
Unemployment actually bottomed at 5.6% during 1979.
If history repeats itself, we will see a nice economic climate in 2011 but followed by 5 years or so of high interest rates and high unemployment.
I do wonder at how much the newfound frugality of the American people is helping to keep inflation in check.
I'm also going to have to disagree on one thing though. I do believe it's possible to introduce catalysts that cause serious impacts to economic climates in a very short term.
The US had a mild recession from January to July 1980. It was followed by a second "double-dip" recession that started July 1981 and ended in November 1982.
May 1979 5.6%
Jul 1980 7.8%
Nov 1982 10.8%
Yep. Rounded up instead of drawing a line across the query results (range) with my cursor.Originally Posted by bogart
Then people get what they deserve, no? We can't just blame the government. The burden of responsibility is also on us to keep inflation in check.You are correct. People aren't spending because they are sacred. As soon as people start to feel confidence in the economy, there will be to many dollars chasing to few good and services. Inflation will explode.
Dick Morris believes that inflation will start in 18 months. That is if we are lucky. Inflation can explode at any time. It wasn't that long ago that oil was $147 a barrel.
In the end, everyone is sitting on a useless pile of cash. Because there aren't enough goods and services available to cover the money.
Fair enough.Originally Posted by bogart
Yes. The government we voted into office. The burden is still on us to keep them in check.Originally Posted by bogart