Loading ...They took the Dollar off Gold in 1971 (monetary madness) the dollar dropped, oil gold etc rapidly climbed inverses. They blamed the Arabs the Lower Dollar higher cost, imported oil, then they blamed the United Auto workers high tax payer wages for ruining the economy. Normal rates and normal wages were not the problem. But they created HIGHER rates to put a headwind on the prices.
Actually the higher rates sucked up sponged up money into the banks. Dead money. If the people had a brain, of if the Gov’t media was our friend they would have told everyone you could by 30 year gov’t bonds paying 16.4% for 30 years. Instead on CDs whose rates kept falling. Holding the bonds for 30 years was not mandatory. In fact they gained value as rates dropped.