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On Wed, 23 Apr 2008 16:43:37 -0700, Dan wrote:
Ed Rasimus wrote: On Wed, 23 Apr 2008 09:42:23 -0600, "Glenn Dowdy" wrote: "Ed Rasimus" wrote in message ... Carter cut programs in the military aggressively, froze promotions and military pay/allowances for three of his four years, gave us 22% inflation and an 18% prime interest rate, How did a president 'give' us those rates? Glenn D. Generally the state of the economy is attributed to the economic policies of the incumbent president. (Recall Clinton's claim of leaving a balanced budget and reducing the national debt? Notice the attribution of the current market decline, AKA recession, to Bush tax cuts? Recall the Reagan tax cuts followed by increases in federal revenue followed by a spending orgy by the Congress?) If you take office with 4% inflation and 6% interest rates and in four years without a major cultural shock like a 9/11 or significant war the inflation rate has skyrocketed and interest rates make home owners instantly "wealthy" but home buyers turn into apartment seekers, you take the blame. If your successor cuts taxes and within three years the indicators are significantly reversed, we can assume a cause/effect relationship. Ed Rasimus Fighter Pilot (USAF-Ret) "When Thunder Rolled" www.thunderchief.org www.thundertales.blogspot.com Yeah, no oil embargoes or OPEC cartels raising prices at all... No major revolutions in the oil patch... D'oh! Dan You might recall that the oil shortages of 1976 were caused by the Carter administration assertion that we would be out of oil by 2000. And don't forget his 55 MPH national speed limit to save us oil. Ed Rasimus Fighter Pilot (USAF-Ret) "When Thunder Rolled" www.thunderchief.org www.thundertales.blogspot.com |
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On Thu, 24 Apr 2008 12:05:25 GMT, Ed Rasimus
wrote: You might recall that the oil shortages of 1976 were caused by the Carter administration assertion that we would be out of oil by 2000. Can't say that I do. Do you have a cite for that assertion? Incidentally, since the Carter administration started January 20, 1977, how did an assertion by that administration cause shortages in 1976? And don't forget his 55 MPH national speed limit to save us oil. The 55 mph speed limit started in 1974, during Nixon's administration. |
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Mark Sieving wrote:
On Thu, 24 Apr 2008 12:05:25 GMT, Ed Rasimus wrote: You might recall that the oil shortages of 1976 were caused by the Carter administration assertion that we would be out of oil by 2000. Can't say that I do. Do you have a cite for that assertion? Incidentally, since the Carter administration started January 20, 1977, how did an assertion by that administration cause shortages in 1976? And don't forget his 55 MPH national speed limit to save us oil. The 55 mph speed limit started in 1974, during Nixon's administration. No kidding. Professor Ed's knowledge of history matches his skill at economic analysis. Maybe next he'll accuse Jane Fonda of imposing wage and price controls in August of 1971. Typical crackpot blather. Cheers ==bob |
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On Thu, 24 Apr 2008 07:54:26 -0500, Mark Sieving
wrote: You might recall that the oil shortages of 1976 were caused by the Carter administration assertion that we would be out of oil by 2000. Can't say that I do. Do you have a cite for that assertion? Actually, I recall it as "twenty-five years". It was much cited around here, where Onassis wanted to build an oil refinery. No point, went the argument; there would be no oil left in twenty-five years. It was the conventional wisdom, and it remains the conventional wisdom, though it's phrased a bit more intelligently now. So Ed in my judgment was a year off, and the shortage of course wasn't caused by the assertion but by the gas rationing. You can ration by administrative fiat, as Carter did, or you can ration by price, as Reagan did. Price works better. My heart really bleeds when I see those TV film clips about the suffering American middle class paying $100 to fill up its SUV. I bought my first new car in 1962. It was a VW Beetle that got 30 mpg. (Yeah, yeah, dangerous as hell. I get the sweats when I look at a Beetle today and recall that I drove that thing twice across the country.) I've always had fuel-efficient cars, and while I don't particularly care to spend $3.50 a gallon, I'll pay it if that's what it takes to clear the market. Blue skies! -- Dan Ford Claire Chennault and His American Volunteers, 1941-1942 new from HarperCollins www.FlyingTigersBook.com |
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On Thu, 24 Apr 2008 12:05:25 GMT, Ed Rasimus
wrote: You might recall that the oil shortages of 1976 were caused by the Carter administration assertion that we would be out of oil by 2000. And don't forget his 55 MPH national speed limit to save us oil. I'm pretty darn sure the Carter administration did not take office until January, 1977. The oil crisis that caused the enaction of the 55mph speed limit happened in 1973. |
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David Phillips wrote:
On Thu, 24 Apr 2008 12:05:25 GMT, Ed Rasimus wrote: You might recall that the oil shortages of 1976 were caused by the Carter administration assertion that we would be out of oil by 2000. And don't forget his 55 MPH national speed limit to save us oil. I'm pretty darn sure the Carter administration did not take office until January, 1977. The oil crisis that caused the enaction of the 55mph speed limit happened in 1973. How dare you cite facts that contradict Professor Ed's dogma? The fact that he's two Presidents off does nothing to diminish the elegance of his reasoning. Cheers ==bob |
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On Thu, 24 Apr 2008 12:05:25 GMT, Ed Rasimus
wrote: On Wed, 23 Apr 2008 16:43:37 -0700, Dan wrote: Ed Rasimus wrote: On Wed, 23 Apr 2008 09:42:23 -0600, "Glenn Dowdy" wrote: "Ed Rasimus" wrote in message ... Carter cut programs in the military aggressively, froze promotions and military pay/allowances for three of his four years, gave us 22% inflation and an 18% prime interest rate, How did a president 'give' us those rates? Glenn D. Generally the state of the economy is attributed to the economic policies of the incumbent president. (Recall Clinton's claim of leaving a balanced budget and reducing the national debt? Notice the attribution of the current market decline, AKA recession, to Bush tax cuts? Recall the Reagan tax cuts followed by increases in federal revenue followed by a spending orgy by the Congress?) If you take office with 4% inflation and 6% interest rates and in four years without a major cultural shock like a 9/11 or significant war the inflation rate has skyrocketed and interest rates make home owners instantly "wealthy" but home buyers turn into apartment seekers, you take the blame. If your successor cuts taxes and within three years the indicators are significantly reversed, we can assume a cause/effect relationship. Ed Rasimus Fighter Pilot (USAF-Ret) "When Thunder Rolled" www.thunderchief.org www.thundertales.blogspot.com Yeah, no oil embargoes or OPEC cartels raising prices at all... No major revolutions in the oil patch... D'oh! Dan You might recall that the oil shortages of 1976 were caused by the Carter administration assertion that we would be out of oil by 2000. And don't forget his 55 MPH national speed limit to save us oil. OFCS Ed, put a sock in it. The 55 limit came in '74, Nixon was still president. The out by 2000 was during the Ford admin. It's time for you to recognise your irrational hatred of the man and start looking things up. Peter Skelton |
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Peter Skelton wrote:
...recognise your irrational hatred of [Carter] and start looking things up. Sure, there are plenty of rational reasons to dislike Carter, in addition to his being a Democrat. Apparently knows from peanuts, probably make a mediocre carpenter, must have been adequate on nuclear power plants in subs, but wasn't effective with Iran, can't keep his fingers out of the ME pie, and generally looks, at best, like a well-intentioned micro-manager with a Messiah complex. Jack |
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On Thu, 24 Apr 2008 12:05:25 GMT, Ed Rasimus
wrote: You might recall that the oil shortages of 1976 were caused by the Carter administration assertion that we would be out of oil by 2000. And don't forget his 55 MPH national speed limit to save us oil. I think it was the Club of Rome in '68 that made those assertions on "out of oil." Of course it heartily embraced by the Carter and the GA Mafia. The "double nickle" comes from the Nixon Administration. As a practical matter it IS the quickest and and easiest way to increase fleet milage. I pull a big horse trailer and if I slow down from 70 mph to 64 mph I get an almost 20% increase in milage. Carter never understood The Bully Pulpit. He was an honorable man who thought all other men were honorable, too. He was a man of his word and thinks all others are, too. Witness his recent contacts and assertions about Hamas. He also pulled the rug out from under the Shah and failed to do anyting to fill the resulting power vacuum, which resulted in the rise of the Ayatollah Khomeni (sp) and the release of large scale relgious fundamentalism fueled by petrodollars. He's still an honest and honorable man. He still hasn't figured out that very few others are. |
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Ed Rasimus wrote:
On Wed, 23 Apr 2008 16:43:37 -0700, Dan wrote: Ed Rasimus wrote: On Wed, 23 Apr 2008 09:42:23 -0600, "Glenn Dowdy" wrote: "Ed Rasimus" wrote in message ... Carter cut programs in the military aggressively, froze promotions and military pay/allowances for three of his four years, gave us 22% inflation and an 18% prime interest rate, How did a president 'give' us those rates? Glenn D. Generally the state of the economy is attributed to the economic policies of the incumbent president. (Recall Clinton's claim of leaving a balanced budget and reducing the national debt? Notice the attribution of the current market decline, AKA recession, to Bush tax cuts? Recall the Reagan tax cuts followed by increases in federal revenue followed by a spending orgy by the Congress?) If you take office with 4% inflation and 6% interest rates and in four years without a major cultural shock like a 9/11 or significant war the inflation rate has skyrocketed and interest rates make home owners instantly "wealthy" but home buyers turn into apartment seekers, you take the blame. If your successor cuts taxes and within three years the indicators are significantly reversed, we can assume a cause/effect relationship. Ed Rasimus Fighter Pilot (USAF-Ret) "When Thunder Rolled" www.thunderchief.org www.thundertales.blogspot.com Yeah, no oil embargoes or OPEC cartels raising prices at all... No major revolutions in the oil patch... D'oh! Dan You might recall that the oil shortages of 1976 were caused by the Carter administration assertion that we would be out of oil by 2000. And don't forget his 55 MPH national speed limit to save us oil. How could I forget something that exists only in your fervid imagination? If you are going to tell a lie, at least it should make sense and be internally consistent... Dan |
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