re: Trump is basically Jimmy Carter 2.0

Here's what you posted that I replied to:

quote:

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Interest rate during the Carter years was as high as 22%
Gas was about $5 per gallon, we are upset more than 40 years later about $5 per gallon gas
Speed limit was reduced to 55 on highways to save gas
There was a gas shortage and people had to wait in long lines for hours to get gas and sometimes after waiting, they didn't even get gas because they ran out

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I replied that those things occurred under Nixon and Reagan.

You reply:

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You couldn’t be more wrong. Here are the facts.

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First, let's just look and see if I could be more wrong.

You mentioned the interest rate. The fed rate peaked in 1981 during Reagan's first term: LINK

And again, that was due to Paul Volcker jacking up the rate to combat the inflation that had been a persistent problem since 1973. Once the recession hit in 1982-83, inflation went down, and consequently Volcker was able to bring the Fed rate back down.
You mentioned "gas shortage" (I'm going to ignore your ridiculous $5 gas comment, as it never reached $5 in the 70s or 80s, even adjusted for inflation: LINK) yet you seem to forget that the first "gas shortage" occurred in 1973-74 during Nixon's second administration: LINK

Indeed, high interest rates and gas prices happened under Nixon and Reagan as evidenced by the links I provided. Yet you seem to think that somehow the opposite of what I said happened? Do you not understand what "couldn't be further from the truth" means?

Now for the content of your reply:

quote:

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During the Nixon Presidency inflation was at a low of 8.8% and when he left office it was 12.2. Not good.
Not much changed under Ford.
When Carter took office the rate was 12.1% and when he left office it was 14.6%.
Reagan took office at 14.6% and when he left office it was 4.1%. A very steep decline in 8 years wouldn’t you say?

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You totally changed the subject from interest rates and gas prices to inflation.

And then you go on to point out that inflation was high under Nixon, Ford Carter AND Reagan. Well, that's kind of my point, it wasn't all happening under Carter.

You said you lived during those times, but you don't act like it. You should know that this inflation isn't really that bad, and that it can take some economic contraction to bring inflation down, and that is done by raising the Fed rate.