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re: Trump is basically Jimmy Carter 2.0
Posted on 4/28/23 at 8:01 am to WildTchoupitoulas
Posted on 4/28/23 at 8:01 am to WildTchoupitoulas
Double digit inflation started under Nixon and peaked under Reagan
That was your quote, you brought up inflation after I mention interest rate, so I was replying to your statement about inflation. No I did change the subject, you did!
You said you lived during those times, but you don't act like it.
I was alive during this time, but was a child. I don't remember any of the things I listed, but I do remember my parents complaining about the Carter years and how hard it was to get by with a family of 7. That was the reality. When the interest rate on a home mortgage was 17% during those years, you can't spin that into any thing but a disaster.
Once Reagan came into office and got those rates down, people rushed to the banks to refi their loans.
That was your quote, you brought up inflation after I mention interest rate, so I was replying to your statement about inflation. No I did change the subject, you did!
You said you lived during those times, but you don't act like it.
I was alive during this time, but was a child. I don't remember any of the things I listed, but I do remember my parents complaining about the Carter years and how hard it was to get by with a family of 7. That was the reality. When the interest rate on a home mortgage was 17% during those years, you can't spin that into any thing but a disaster.
Once Reagan came into office and got those rates down, people rushed to the banks to refi their loans.
1
Posted on 4/28/23 at 10:55 am to BamaMamaof2
quote:
I do remember my parents complaining about the Carter years and how hard it was to get by with a family of 7. That was the reality. When the interest rate on a home mortgage was 17% during those years, you can't spin that into any thing but a disaster.
No, I can't spin that, but I can point out that it's simply not true - unless your parents just had really bad credit.
Mortgage rates were double digit for only Carter's last two years. They were double digit for Reagan's first 5 years. There was a peak in 1980, but the maximum average was 18.63% in 1981. Carter was long gone by then. Mortgage rates were still at 10.6% in 1986.
quote:
Once Reagan came into office and got those rates down, people rushed to the banks to refi their loans.
Once Reagan got into office the rates went UP first, then gradually tapered off.
It's all spelled out right here:
LINK
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