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My uncle loved Jimmy Carter. CD's were paying 15% interest. His house monthly payments fell because he was paying with cheaper dollars but he was earning more. By the time this inflationary cycle was over, he had paid off his house and had $500,000 in the bank.
History does indeed repeat itself. Obama supporters should consider this:
High Inflation + High Unemployment = Misery Index
Jimmy Carter said during his campaign for President - "... no man responsible for giving a country a misery index that high has a right to even ask to be President."
In the 1976 election year, the Misery Index was 13.57%. During the 1980 campaign, the Misery Index has jumped to an all time high of 21.98%. Jimmy Carter was soundly defeated by Ronald Reagan. American's don't deal well with high unemployment and a flacid dollar.
It would be a colossal mistake to think that Barrack Obama is immune to the ramifications of a high Misery Index. Jimmy Carter couldn't beat it, and he didn't even have to compete with the effects of the highest level of government spending in the nation's history.
My uncle loved Jimmy Carter. CD's were paying 15% interest. His house monthly payments fell because he was paying with cheaper dollars but he was earning more. By the time this inflationary cycle was over, he had paid off his house and had $500,000 in the bank.
Weren't food prices increasing at this time dramatically? Unless you have a way to store food for a VERY long time, it is difficult to hedge against this. What about energy prices and long gas lines? Did your family member manage to find a way to avoid long lines caused by price caps?
During a hyperinflationary period, no one wants to hold onto the currency for but the time it takes to cash it in for something tangible such as PMs, guns, food, bullets, etc.
History does indeed repeat itself. Obama supporters should consider this:
High Inflation + High Unemployment = Misery Index
Jimmy Carter said during his campaign for President - "... no man responsible for giving a country a misery index that high has a right to even ask to be President."
In the 1976 election year, the Misery Index was 13.57%. During the 1980 campaign, the Misery Index has jumped to an all time high of 21.98%. Jimmy Carter was soundly defeated by Ronald Reagan. American's don't deal well with high unemployment and a flacid dollar.
It would be a colossal mistake to think that Barrack Obama is immune to the ramifications of a high Misery Index. Jimmy Carter couldn't beat it, and he didn't even have to compete with the effects of the highest level of government spending in the nation's history.
All you Barrack-lovers should be very worried.
Don't forget to factor in the new tax increases 0bama will have to create. 0bama promised time and time again, that 95% of Americans will not see their taxes go up.
0bama: "If you make less than $250,000 a year, you will not see your taxes increase. Not by one dime. Not one dime."
George .H.W. Bush was pilloried by the media and the democrats after his "Read my lips, no new taxes" and Bush did not have a republican controlled house and senate, so 0bama will not even have that excuse.
Don't forget to factor in the new tax increases 0bama will have to create. 0bama promised time and time again, that 95% of Americans will not see their taxes go up.
.
He's not raising "taxes", instead it has names like "Cap &Trade" or Universal Healthcare.
My uncle loved Jimmy Carter. CD's were paying 15% interest. His house monthly payments fell because he was paying with cheaper dollars but he was earning more. By the time this inflationary cycle was over, he had paid off his house and had $500,000 in the bank.
Don't forget to factor in the new tax increases 0bama will have to create. 0bama promised time and time again, that 95% of Americans will not see their taxes go up.
0bama: "If you make less than $250,000 a year, you will not see your taxes increase. Not by one dime. Not one dime."
George .H.W. Bush was pilloried by the media and the democrats after his "Read my lips, no new taxes" and Bush did not have a republican controlled house and senate, so 0bama will not even have that excuse.
Don't you just love young minds? Lots of people had their taxes increased during Carter's inflationary period because those who were able to get raises found themselves in higher tax brackets.
I see those who didn't live through it trying to find the silver lining. This best explains what it was like.
Wait, the $787 billion stimulus leads to inflation...
But the $1.6 trillion bush tax cuts don't get a mention, OP?
Both were intended as stimulus, but one cost twice as much.
You blame the little one, which has barely begun.
Partisan much?
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The GOP's great white hopes...
