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Carter has good employment, but terrible inflation making everyone poor in miserable. His Fed appointee, Paul Volcker raises interest rates, kills inflation, pu

Carter has good employment, but terrible inflation making everyone poor in miserable. His Fed appointee, Paul Volcker raises interest rates, kills inflation, puts the country in recession, and drives unemployment up during Reagan's first years in office. Carter's job numbers look better than they should, and Reagan's worse, unless you look at the bigger picture.

reactordev 8mo ago
The bigger picture being that this is political nonsense. We all know Reganomics.
- stopbulying 8mo ago
  They did not pay their bill for their own agenda then, and they have still not paid their bill for trillions in follow-on expenses. They cut taxes and debt-financed war, which forced the US further into debt.
  - Hikikomori 8mo ago
    In modern times republicans got US into most wars. Nixon also got Vietnam extended.
    - stopbulying 8mo ago
      Nixon and a cabinet full of German last names changed the US from a fractional reserve banking system to a floating petrodollar. The USD was then overly sensitive to oil shortages and oil price speculation. Generalized inflation (due to oil supply shocks and speculation) lost Carter the election in 1980. (Carter wins among US Presidents for least deaths on his watch.) Most US invasions since 1980 have been the result of Reagan/Bush international oil meddling. They were only able to take power because of unpopular inflation. And susceptibility to "revival superstar" oil saviors with Trilateral/CIA oil plans. But they don't pay their bills for debt-financing illegal foreign wars. Anyways, Nixon also disregarded the La Guardia commission and the interim findings of the Shaeffer report. So, after the supreme court back then in Leary vs in 1969 overturned the Tax Stamp Act of 1937 after 32 years on the grounds that the law required self-incriminatiom for compliance, Nixon re-criminalized medical Kaneh Bosm.
majormajor 8mo ago
Reagan supported those interest rate changes. Reagan than continued to push deficit spending well after the recovery from those first couple years, a huge lasting trend in Republican administrations ever since. It's also very hard to assume that Reagan being elected in 76 would've avoided the oil-driven inflation at the end of that decade. But of course, we've decided as a country/media to generally blame Biden for non-policy factors that put the economy on a wild bullwhip ride from 2020-to-2023ish, soooooo... maybe Reagan can deal with getting the blame for the inflation too!
sroussey 8mo ago
Carter gave up the presidency to save America then. Volcker did the right thing.
- WillPostForFood 8mo ago
  He does deserve some credit, but 1979 was a total mess for the growth, inflation, the dollar. Nominating a credible Fed chair to fight inflation was both a risk and politically expedient in the short term. Trying to build some economic credibility at the risk those policies slowing growth.

reactordev 8mo ago

The bigger picture being that this is political nonsense. We all know Reganomics.

stopbulying 8mo ago
They did not pay their bill for their own agenda then, and they have still not paid their bill for trillions in follow-on expenses. They cut taxes and debt-financed war, which forced the US further into debt.
- Hikikomori 8mo ago
  In modern times republicans got US into most wars. Nixon also got Vietnam extended.
  - stopbulying 8mo ago
    Nixon and a cabinet full of German last names changed the US from a fractional reserve banking system to a floating petrodollar. The USD was then overly sensitive to oil shortages and oil price speculation. Generalized inflation (due to oil supply shocks and speculation) lost Carter the election in 1980. (Carter wins among US Presidents for least deaths on his watch.) Most US invasions since 1980 have been the result of Reagan/Bush international oil meddling. They were only able to take power because of unpopular inflation. And susceptibility to "revival superstar" oil saviors with Trilateral/CIA oil plans. But they don't pay their bills for debt-financing illegal foreign wars. Anyways, Nixon also disregarded the La Guardia commission and the interim findings of the Shaeffer report. So, after the supreme court back then in Leary vs in 1969 overturned the Tax Stamp Act of 1937 after 32 years on the grounds that the law required self-incriminatiom for compliance, Nixon re-criminalized medical Kaneh Bosm.

majormajor 8mo ago

Reagan supported those interest rate changes. Reagan than continued to push deficit spending well after the recovery from those first couple years, a huge lasting trend in Republican administrations ever since. It's also very hard to assume that Reagan being elected in 76 would've avoided the oil-driven inflation at the end of that decade. But of course, we've decided as a country/media to generally blame Biden for non-policy factors that put the economy on a wild bullwhip ride from 2020-to-2023ish, soooooo... maybe Reagan can deal with getting the blame for the inflation too!

sroussey 8mo ago

Carter gave up the presidency to save America then. Volcker did the right thing.

WillPostForFood 8mo ago
He does deserve some credit, but 1979 was a total mess for the growth, inflation, the dollar. Nominating a credible Fed chair to fight inflation was both a risk and politically expedient in the short term. Trying to build some economic credibility at the risk those policies slowing growth.