The downturn during the 1970s was caused primarily by Richard Nixon’s faulty economic policy. Among other things the imposition of widespread wage and price controls caused the extended recession of the 1970s we refer to today as stagflation. Oil prices played a role but it was the governments response that truly put the United States over the edge. Unless the Government takes draconian measures like Nixon did to insulate the economy it doesn’t make sense to compare today’s situation to that of the 1970s.
We have excessive real wealth that is burnt away by the finance industries in sucking real good money after worthless assets. Energy, Commodities hit so high that pull the carpet from under everyone’s feet.
If I predict recession every year I will get it right eventually.My understanding of economics is that something either goes up or it goes down. There are 50-50 odds to guess right. Some may guess 60% right but will eventually revert back to the mean. Its too bad this is a time when the system has been raped for every nickel and dime for the next few years.
The downturn during the 1970s was caused primarily by Richard Nixon’s faulty economic policy. Among other things the imposition of widespread wage and price controls caused the extended recession of the 1970s we refer to today as stagflation. Oil prices played a role but it was the governments response that truly put the United States over the edge. Unless the Government takes draconian measures like Nixon did to insulate the economy it doesn’t make sense to compare today’s situation to that of the 1970s.
Rich
San Diego Tourism
Comment by San Diego attractions — June 3, 2008 @ 12:59 pm
We have excessive real wealth that is burnt away by the finance industries in sucking real good money after worthless assets. Energy, Commodities hit so high that pull the carpet from under everyone’s feet.
Bail Bonds in California
Comment by California bail bonds — June 3, 2008 @ 1:01 pm
If I predict recession every year I will get it right eventually.My understanding of economics is that something either goes up or it goes down. There are 50-50 odds to guess right. Some may guess 60% right but will eventually revert back to the mean. Its too bad this is a time when the system has been raped for every nickel and dime for the next few years.
Jenny
Skin Care Specialist
Comment by acne treatments — June 3, 2008 @ 1:02 pm