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Politics : Idea Of The Day
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To: MeDroogies who wrote (28830)9/15/1999 4:21:00 PM
From: gerard mangiardi  Read Replies (2) of 50167
 
He raised rates to a level not seen before or since in this country. What were the sources of inflation at that time? Mostly food and energy which are no longer considered part of the core rate. Accolades came from monetarist who believed that velocity of money was stable. Something that his policies proved was not true as the explosion in money market accounts proved. All he succeeded in doing was cause a recession and laying the groundwork for lbos because it became cheaper to buy a business than to build one.
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