The Epic American Credit and Bond Bubble Laboratory Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: regli who wrote (69817)	9/15/2006 10:38:01 AM
From: GraceZ	Read Replies (1) of 110194

If I'm way off so was most of the country because there were weekly articles about the high unemployment level during that time period. Also, tell it to Hubert Humphrey and the rest of the Congress who were convinced we were having a national unemployment crisis in the late 70s requiring passage of a special bill to bring relief to the jobless. The figures routinely published in the paper were in excess of 6% (in excess of 10% by 1981) but much higher for certain age groups and educational groups. The Phillips curve was popular back then and it was commonly believed in economic circles that if the unemployment rate dropped below 5% then inflation would become a problem (this wasn't proven wrong until the mid nineties when rates dropped below 4% along with the inflation rate). This was the primary reason the Humphrey Hawkins legislation was passed in the first place, the Congress wanted the Fed to stop pursuing monetary policy that they saw as destroying jobs in favor of fighting inflation, to pursue a policy of stable prices and full employment. Here's a relatively objective analysis which might explain our bifurcated views: frbsf.org

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next