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To: Joe NYC who wrote (129127)	3/5/2001 7:41:45 AM
From: Scumbria	Read Replies (1) \| Respond to of 186894

Joe, High inflation in the late 70's was the direct result of Nixon administration events. I know that you weren't in the country at the time, but don't let that stop you from spouting off about things you know nothing about. Nixon placed Government caps on private sector prices and wages (yes, right here in the US.) This was probably the closest we ever came to communism in the US. That combined with his inability to communicate with Middle East oil producers led to a huge spike in all costs, particularly energy costs later in the decade. Scumbria