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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: GROUND ZERO™ who wrote (41649)	10/22/2008 8:16:03 AM
From: SG	1 Recommendation Read Replies (3) \| Respond to of 217782

The best hope is that he gets into office and says "oops, the situation really sucks," and then does the right things. SG

To: GROUND ZERO™ who wrote (41649)	10/22/2008 2:15:29 PM
From: Elroy Jetson	3 Recommendations Read Replies (1) \| Respond to of 217782

When hiring, I like people with smarts and even tempered perseverance. An alcohol addicted party boy like Bush with a limited attention span is not a good choice, not even as a waitress. Our prior policy toward inflation, prior to Jimmy Carter, was President Ford's appearance on television to convince the public to wear WIN buttons (Whip Inflation Now). The idea being that if everyone wore a button, then inflation would dissipate. You obviously believe Carter went wrong in not promoting Ford's buttons sufficiently, which you suggest would have been successful if they had been worn frequently enough. This low-brow nonsense is not for me. The underlying inflation problem Ford and Carter faced was oil, specifically the rise of OPEC which attempted to use oil prices to change US policy toward Israel and a shortage of refinery capacity capable of processing higher sulfur crudes. OPEC, specifically Saudi Arabia had previously attempted this with Nixon by ending oil shipments bound for Viet Nam, which in no small way added impetus to Nixon's surrender in that war. Had the Federal Reserve chosen a different policy during this period of time, the US would have experienced a very serious economic downturn during this period of time likely resulting in the desired change in support for Israel from public demand. Instead the recession was delayed, resulting in ultimately intolerable inflation and Carter's appointment of Paul Volcker to take the bad medicine to produce the overdue recession, which of course cured both inflation and oil prices at a very heavy cost. You may question why Ford or Carter had not chosen the Volcker option sooner. In part this was a decision to allow sufficient time to destroy enough oil demand to defang Saudi Arabia when the plug was finally pulled - a very long-lasting cure. I know this period was uncomfortable for you, but your comfort cannot always be assured. .