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So I was watching a Glenn Beck clip on youtube and he was talking about how, during the Jimmy Carter era, our money supply expanded 12% a year for 2 years thus causing the inflation we associate with his presidency.
According to Beck, Volcker and the FED had to set interest rates to 20% in order to bring inflation under control.
Now, our money supply is set to expand 120%. The point being, what kind of inflation, and what kind of interest rates and money supply is going to be required to bring inflation under control this time?
Remember all, these high commodity prices are eventually going to work their way into the goods we purchase.
I know that Glen Beck is a bit extreme, but it's a sound question to ask. If two year of 12% monetary expansion required 20% interest rates, what does 120% monetary expansion require?
[url=http://www.huppi.com/kangaroo/L-carterreagan.htm]Carter ruined the economy; Reagan saved it[/url]
Jimmy Carter acted in the nation's interests knowing it could hurt him politically; much like LBJ and Civil Rights legislation. For the record, Beck has twisted the facts: the expansion of monetary supply occurred under Reagan. But, like Communist ideologues, that fact doesn't fit his world view.
"To battle inflation, Carter appointed Paul Volcker as Chairman of the Federal Reserve Board, who defeated it by putting the nation through an intentional recession. Once the threat of inflation abated in late 1982, Volcker cut interest rates and flooded the economy with money, fueling an expansion that lasted seven years. Neither Carter nor Reagan had much to do with the economic events that occurred during their terms."
As for Obama's Debt Deal: he gave the Republicans exactly what they wanted: no tax increases and spending cuts. This makes this a referendum on Milton, not Keynes and when it fails you can blame Republican ideas.
MeKong1 - Get your Data correct, the FED has always been the problem, Presidents are not really in charge of our money, but they are in charge of our laws, and can take a stand, which Carter was not able to do, as he was WEAK. He was more concerned of mice in the white house than standing up to the MAFIA Banksters who are stealing our country. Obama is WEAKER than Carter..
Reagan knew the enemy and that they kill those who fight them, so he picked his battles and did things outside of their control. It took REAGAN to CUT TAXES that caused the economy to GROW as the PUBLIC is the only way the ECONOMY grows in reality, playing with money supply is a GAME of inflation and deflation that the FED uses to create BUBBLES, true economic GROWTH is something they don't want us to FIGURE OUT, as they like RULING US with FUNNY MONEY (made up out of thin air to create chaos!)
MeKong1 - Get your Data correct, the FED has always been the problem, Presidents are not really in charge of our money, but they are in charge of our laws, and can take a stand, which Carter was not able to do, as he was WEAK. He was more concerned of mice in the white house than standing up to the MAFIA Banksters who are stealing our country. Obama is WEAKER than Carter..
Reagan knew the enemy and that they kill those who fight them, so he picked his battles and did things outside of their control. It took REAGAN to CUT TAXES that caused the economy to GROW as the PUBLIC is the only way the ECONOMY grows in reality, playing with money supply is a GAME of inflation and deflation that the FED uses to create BUBBLES, true economic GROWTH is something they don't want us to FIGURE OUT, as they like RULING US with FUNNY MONEY (made up out of thin air to create chaos!)
Of course the Arabs hated Carter and the USA. The really big problem of the '70's was oil, not the Fed and/or new money creation itself.
Your first mistake was watching a Glenn Beck clip, though if you are looking for entertainment, Donald Trump has a weekly video blog that he updates on The YouTube.
Jimmy Carter acted in the nation's interests knowing it could hurt him politically; much like LBJ and Civil Rights legislation. For the record, Beck has twisted the facts: the expansion of monetary supply occurred under Reagan. But, like Communist ideologues, that fact doesn't fit his world view.
"To battle inflation, Carter appointed Paul Volcker as Chairman of the Federal Reserve Board, who defeated it by putting the nation through an intentional recession. Once the threat of inflation abated in late 1982, Volcker cut interest rates and flooded the economy with money, fueling an expansion that lasted seven years. Neither Carter nor Reagan had much to do with the economic events that occurred during their terms."
As for Obama's Debt Deal: he gave the Republicans exactly what they wanted: no tax increases and spending cuts. This makes this a referendum on Milton, not Keynes and when it fails you can blame Republican ideas.
Leftists are wrong about everything. The expansion of the money supply in that era occurred under Nixon and Carter, not Reagan. They were both liberals.
Leftists are wrong about everything. The expansion of the money supply in that era occurred under Nixon and Carter, not Reagan. They were both liberals.
Deficit spending increased drastically under Reagan. He understood how little they mattered.
The first result is this thread, and nothing else even on the first page refrences 120% increase in money supply. There is no proof there. People wonder why I ask for proof of people's points when all that is supplied is nothing? Really?
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