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I find it hard to believe anyone who lived through that time as an adult would vote for Carter. Gas shortages, run away inflation, Americans taken and held hostage, home loans running at 10-15%, high unemployment. In hindsight, knowing what I know now, I would have voted for Gerald Ford instead of Carter. Carter is who allowed the embodiment of radical Islam when he more or less encouraged them to overthrow a Iran. We have been paying for it ever since.
Christ, knowing what I know now, I wouldn’t have supported Nixon’s impeachment.
Sounds to me like you might want to consider how things were so crappy under Carter.
First. there was runaway inflation under Nixon. He had wage and price controls, twice. When they were rescinded every company that could raised their prices as far and as fast as they could not knowing when he would reinstall them.
Yes home loans were high. But houses were still selling. And old ladies with money in CDs were buying a new car ever 2 years and taking trips to Bali.
The hostages were a result of USA policy with Iran for many years. We installed the Shah. Jimmy did let him come to Houston for medical treatment. But for years before that, Iranian students protesting American policy tied up traffic around the Iranian consulate in Houston. They even assaulted one of Carter's sons at the U of H.
IMO, the anger at Carter and the hostages was the result of military failure. Loyal Americans would rather blame the POTUS for malfunctioning helicopters than the MIC.
Now throw the Champion of Chappaquiddick into the mix. He thought the same as you as far as Carter was concerned. Having liberal opposition in the same party primary was a killer, too.
Carter NEVER encourage the radicals in Iran. But he does think allowances should be made for Palestinians. IMO, that's the anger at Carter. Zionist don't like him and never have.
I find it hard to believe anyone who lived through that time as an adult would vote for Carter. Gas shortages, run away inflation, Americans taken and held hostage, home loans running at 10-15%, high unemployment....
And two of the most booming years in American history.
Quote:
Originally Posted by James Bond 007
Much is made on this forum and elsewhere of the two or three great boom times post-WWII: The mid-80's and the mid-late 90's (with the mid-late 60's also often cited).
However, I think if we were to pick two consecutive most-booming-years, 1977-78 would give 1983-84 and 1997-98 (or any two consecutive years from 1994-99) a run for their money, and maybe even come out ahead. Here are some numbers for those two years:
Those two years are #3 and #2 respectively for the years post-WWII with the highest payroll job additions in absolute numbers. #1 is 1946 -- which, being the year after WWII ended, is going to be under somewhat unusual circumstances. 1984 is #6, 1994 is #7, 1983 is #9 and 1997 is #10. In the 60's, 1965 and 66 are the two highest ones at #18 and #19. If you calculate those as a % of total payrolls they're going to come out higher, of course, but I didn't bother doing that. And that said, since payrolls in 1977-78 were smaller than both the 80's and 90's booms, their booming-ness is all the more greater than those other two boom periods.
GDP, similarly, was also spectacular, albeit less so than payrolls, though it was also highly variable. That said, it does feature one quarter which is nothing short of jaw-dropping (note: this was not realized until recently while the BEA was doing benchmark revisions of previous years).
On an annual basis, those two years grew 4.6% and 5.6% respectively. In this category, 1984 beats out both with a 7.3% annual growth rate for the whole year.
Of course, the downside to all this booming growth was that inflation was going through the roof - which, of course, is why most people don't usually remember them as boom years. In 1977 the annual inflation rate was 6.3% and 1978 it was 7.4% (source). Though they were certainly high, those two years did still not match the peak years of 1979-81 in which the inflation rate was 9.8%, 12.4% and 10.4%.
Maybe if I get ambitious I'll look at some other data sets for those years (housing starts, etc).
Carter (I don’t blame him for the economy of 1980), but Ford winning in 1976 would be even better. Ford winning in 1976 means Democrats don’t get blamed for the “malaise”, Wolfowitz stays a Democrat, no Department of Education, and possibly no Selective Service registration mandate. Carter winning in 1980 would prevent the “AIDS is divine retribution” and “just say no” people from having so much influence and prevent Iran-Contra.
Last edited by redguitar77111; 02-09-2020 at 06:30 PM..
Wasn’t quite that high, but we did have 14.875% negative equity mortgage. So, effectively 18%. Just put our heads down and worked away. No bitching and moaning. It is why we see all of the woe is me folks as weaklings.
Things are what they are, one does what one has to do.
Quote:
Originally Posted by camaro69
Wonderful /s....and those looking to buy a home were paying 18% + for a mortgage.
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