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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: sandintoes who wrote (672217)	2/14/2005 11:38:11 PM
From: Peter Dierks	Read Replies (1) \| Respond to of 769670

Carter appointed Volcker. It took a while to turn the ship around. Remember Nixon and Ford suffered stagflation? Nixon tried wage and price freezes. The massive inflation was also caused by the entry of the baby boomers into the workplace. (Causing declining productivity.) Simultaneously the BBs were forming households. (Causing rising home prices and stimulating demand which caused massive inflation.) Volcker was not the greatest, but he did a reasonably good job. For the time he steered a good course. He was not reappointed when President Reagan had a chance. Between Volcker and Greenspan, which would you have chosen? IMO President Reagan chose well. OT - It seems like his big failure on the job came from his interactions with the World Bank and similar organizations. If memory serves me, he urged the World Bank to push the use of the dreaded hammer. Devaluation, wage and price freezes coupled with massive tax increases. This practice destroyed many economies.