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> But it looks like the right thing looking back historically and politically in reality to you

• rnk 4y ago
  This is a week old, but in retrospect what would you have done at that time? I don't know, I was fortunate as a child that my parents remained employed during that time. I wonder what they thought might happen. There must have been people that lost their jobs and then lost their houses, just like in 2008 and maybe even now with interest rates going up, one can't afford a new house. Everything's more expensive.
  • dventimi 4y ago
    People lost their jobs at that time not because of inflation, but because of Volcker's efforts to reign in inflation. Throwing people out of work was a feature not a bug. Raising unemployment was his objective, and he achieved that. That's certainly one way to go, but it's not the only way to go. It's not the way I would have gone.
    • dventimi 4y ago
      "rein in" not "reign in"...typo