Re: "you like 25% interest rates on mortgages ?"
Not at all.
(Of course, I believe that mortgage rate was first achieved early in the first Reagan/Bush term, not the single Carter term... if memory serves. So you are off by a few years.)
Those spiking interest rates were the RESULT of *two* of the WORST Federal Reserve Chairs our nation has ever had --- serving throughout the late 'sixties and the entire decade of the 1970s, and targeting extremely high real inflation rates for our country --- until adult supervision of the Fed was restored with Volker, who was appointed in the Carter term. (The particular Presidents had much less to do with the overall interest and inflation rates then the Fed....)
Never-the-less, the other stats I mentioned (GNP, etc.) still remain true. Overall, despite a decade's long of turmoil, paying off of the Vietnam debts run up by the government, spiking of energy costs and *two* huge energy shocks bracketing the decade, the economy posted higher growth, higher job production, and the nation lower additions to our federal deficit... under *both* the terms of Ford AND Carter, then under the Reagan/Bush eight years (or certainly under the four Bush years which came after).
This is all I said, simple stats, easy to verify should you be so inclined:
[those were the worst of times.] (Except that the job creation rate, and the rate of growth in GNP, was HIGHER then the Reagan/Bush team averaged [over the next eight years], while the rate of growth in the national deficit was SIGNIFICANTLY lower then the R/B average in the 'eighties.)
Except for things like that, I guess you mean....
However, as you are always pointing out to everyone, you are far 'too young' to actually remember any of these things. :-)
(Fortunately though, shorty, there is always Google, or Wikipedia, or Britanica you can turn to....) |
