My guy can beat your guy...

tw · 01-25-2012, 06:34 PM

Gerald Ford suffered from the same problem. Richard Nixon. Nixon intentionally created economic malaise in 1968 and 1970. Wasting human life and spending money we did not have because (as tapes between he and Kissinger demonstrate), Nixon did not want to lose a war on his watch.

Economic destruction causes massive unemployment that could only be solved by punishing all Americans with diminished standards of living. And by selling off major American assets. But Gerald Ford was not willing to drive interest rates up towards 20%. Carter (and Volker) did that. Therefore the economy and jobs finally returned in the mid- 1980s. That type of economic destruction takes that long to fix.

Those same economic lessons apply today. Obama must do what only Reagan was able to accomplish.

01-25-2012, 06:34 PM	#22
tw Read? I only know how to write. Join Date: Jan 2001 Posts: 11,933	Gerald Ford suffered from the same problem. Richard Nixon. Nixon intentionally created economic malaise in 1968 and 1970. Wasting human life and spending money we did not have because (as tapes between he and Kissinger demonstrate), Nixon did not want to lose a war on his watch. Economic destruction causes massive unemployment that could only be solved by punishing all Americans with diminished standards of living. And by selling off major American assets. But Gerald Ford was not willing to drive interest rates up towards 20%. Carter (and Volker) did that. Therefore the economy and jobs finally returned in the mid- 1980s. That type of economic destruction takes that long to fix. Those same economic lessons apply today. Obama must do what only Reagan was able to accomplish.

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