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Politics : Formerly About Advanced Micro Devices
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To: i-node who wrote (1031921)9/25/2017 2:23:40 PM
From: zzpat   of 1579437
 
Do you think Carter created inflation? How did he do it? Your beliefs are not sound.

OPEC caused oil prices to soar and caused inflation to soar under Nixon, Ford, and Carter. The Federal Reserve increased interest rates until the US and the global economy went into a deep recession (the opposite of supply-side economics) and that recession taught OPEC a lesson. Raise prices again and we have the tools to destroy their income. The recession ended inflation, not Reagan.
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