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

To: i-node who wrote (805699)	9/8/2014 10:27:25 AM
From: tejek	Read Replies (1) \| Respond to of 1574096

Reagan inherited the worst economy since the Great Depression. And he definitely inherited it from a moron president (so bad, in fact, that Carter was the worst president of modern times until Obama stumbled into the White House). The economy suffered from stagflation caused by the big jump in the price of oil during the Nixon and Carter administrations. The Fed forced the country into recession to get rid of the inflation. Under Reagan, unemployment dropped from 10% to 5%. Under Obama, unemployment has dropped from 12% to 6%...so far. Obama has two more years don't you know. Reagan/Bush Listen to Professor Sicilia discuss this era. The economy endured a recession in the early 1980s, and unemployment hit double digits. The main reason, Sicilia said, was because the Federal Reserve chairman at the time was trying to squeeze inflation out of the economy. “They were concerned about unemployment, but they were more concerned about inflation,” Sicilia said. Unemployment fell from a high of 10.8 percent to 5.3 percent under Reagan. With unemployment low, George H.W. Bush became the first sitting vice president elected president in the modern age. washingtonpost.com

To: i-node who wrote (805699)	9/8/2014 10:50:59 AM
From: bentway	Read Replies (2) \| Respond to of 1574096

Reagan inherited the worst economy since the Great Depression. Dave, it's universally recognized that the Bush Lesser Decpression that he handed to Obama on taking office, was the worst economic calamity since the Hoover Great Depression. What Reagan inherited was a DELIBERATE RECESSION, and an economy already on the mend, due to Paul Volker's raising interest rates, which Reagan wisely continued. He continued a Carter policy. Great Depression (1929-1933) Peak unemployment 24.9%, GDP decline -26.7 Recession of 1937, peak unemployment 19.0%, GDP decline 18.2% Current recession10.1% (U3 unemployment October 2009)17.4% (U6 unemployment - includes discouraged and underemployed October 2009) Other US Recessions had unemployment up to 10.8%. and GDP contraction mostly in the -.03% to -5 % range but one in 1945 had -12.5% GDP contraction.