Loading ...Yes I remember the Greenspan Game. I also remember the Paul Volker game during the1970s. The public record called those years “the inflationary 1970s” which is what it LOOKED like. (inflation meaning increase in money supply)
But thru the 1970s the 7 foot jerk, Dracula in charge of the blood bank, he should have been a plumber, all that clown did was SUCKING money out with higher and higher rates, 6% to 21% prime rate, forcing money into the “dead letter office” where it builds interest and doesn’t get spent.
Bottom like, the climbing prices on the 1970s was a LAGGING result of the inflationary era 1934 to 1971 increasing money supply, low rates, for WW II Korea, Vietnam, and the Moon Landing. The spigot was cut off in 1971, because we lost so much gold with balance of trade deficit. No problem, after ’71 we lost our industries and the cars made after 1970 gradually got worse, too complicated expensive electronic parts, I hear now you don’t even get an ignition key?
You get a bulbus fob? And a starter button? Don’t ever leave the car running, go into a 7-11, and drive away after leaving the fob on the counter. That happened here. Lady drove 200 some miles away on Thanksgiving. If she shut the motor for gas she would have been stranded. The store guy had to drive it up to give it to her.