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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: combjelly who wrote (212933)	12/8/2004 1:58:50 PM
From: Road Walker	Read Replies (2) \| Respond to of 1573096

CJ, re: Savings don't help because inflation eats them up. I was lucky to be employed during those years. The thing I remember most is rushing out to spend each paycheck, as you knew prices would be higher the next day, the next week. It was really difficult to save up for a big purchase, the price of the item just kept running away from you as your cash lost value. At the time, it seemed that the "inflationary spiral" would never, ever end. John

To: combjelly who wrote (212933)	12/8/2004 2:23:29 PM
From: Tenchusatsu	Read Replies (1) \| Respond to of 1573096

CJ, I guess I should have ended my back-n-forth repetition with Amy earlier than I did. I agree that the economic cycle is independent of who is in charge in Washington. Carter's misery helped set the stage for Reagan's prosperity, and Bush Sr.'s "recession," mild as it was, helped set the stage for Bill "It's the economy, stupid" Clinton. Besides, the inflation under Carter's term was driven more by cost, specifically the oil embargo of the 70s, rather than the federal debt at the time. There was hardly any aspect of the inflation that was a direct result of Carter's thriftiness. In fact, it could be argued the other way around, that Carter's monetary policy was forced upon him by the spiraling inflation at the time. Two spins on what happened during that time, first from a liberal, and second from a conservative: huppi.com nationalreview.com Now I agree that the current deficits and sky-high debt isn't "irrelevant." But I'm not going to accept Amy's very narrow view that Carter's years were the "best financial years of this country." (And she tells me to watch what I say, LOL.) Tenchusatsu