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Politics : View from the Center and Left
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To: Steve Lokness who wrote (239916)12/15/2013 11:16:48 AM
From: Sam  Read Replies (1) of 542148
 
If you think that inflation at over 12% AND CLIMBING is not troublesome in the extreme you have no sense of what it does to business. Do you know what interest rates do housing for instance when it gets that high? Carter hd four years to do something and did nothing! So by doing nothing interest rates kept going up. Was it all Carters fault? Of course not - things just are never black and white like that. Reagans role was to support the fed, but he went further by sending a clear message - the rounds of higher and higher wages was over.

My last post in part replied to this. But I will add this--that the supposedly "clear message" that Reagan sent that "the rounds of higher and higher wages was over" was in fact accomplished by Volcker's policies and economic necessity. Reagan didn't have to kill PATCO in order for that message to be "sent." Just as Walker didn't have to declare war on public unions in order to rein in WI's budget problems. There are different ways to deal with unions, one way is to actually negotiate and reason with them, the other way is the declare war on them. The second way can be a great way to lower wages in increase inequality throughout the country, and that is the way that Reagan, Walker and today's GOP generally takes.

Swell.
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