SI
SI
discoversearch

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.
Politics : Ask Michael Burke
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Ilaine who wrote (45904)2/6/1999 2:35:00 PM
From: Knighty Tin  Read Replies (1) of 132070
 
Coby, Yup, it was all caused by interest rate changes, and jawboning. The critical crunch was when Jim Baker went to Europe and told everyone that the dollar was overvalued. That started a run and then the Fed lowered rates to make it a panic. Of course, interest rates don't live in a vacuum. Part of the problem was the govt. (both the administration and Congress were equally guilty) lowering tax rates while increasing spending, leading to a huge increase in the deficit and debt load, the latter of which we are still increasing today. There was a lot going on in those days. Along with the Laffer Curve actually being given some credibility.

MB
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News