Formerly About Advanced Micro Devices Message Board

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Politics : Formerly About Advanced Micro Devices

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To: i-node who wrote (805699)	9/8/2014 10:27:25 AM
From: tejek	Read Replies (1) of 1581611

Reagan inherited the worst economy since the Great Depression. And he definitely inherited it from a moron president (so bad, in fact, that Carter was the worst president of modern times until Obama stumbled into the White House). The economy suffered from stagflation caused by the big jump in the price of oil during the Nixon and Carter administrations. The Fed forced the country into recession to get rid of the inflation. Under Reagan, unemployment dropped from 10% to 5%. Under Obama, unemployment has dropped from 12% to 6%...so far. Obama has two more years don't you know. Reagan/Bush Listen to Professor Sicilia discuss this era. The economy endured a recession in the early 1980s, and unemployment hit double digits. The main reason, Sicilia said, was because the Federal Reserve chairman at the time was trying to squeeze inflation out of the economy. “They were concerned about unemployment, but they were more concerned about inflation,” Sicilia said. Unemployment fell from a high of 10.8 percent to 5.3 percent under Reagan. With unemployment low, George H.W. Bush became the first sitting vice president elected president in the modern age. washingtonpost.com

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