Man With A Plan
Diamond Member
- May 21, 2023
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I must not have made myself clear. The 10.3 inflation rate was the FIRST YEAR that President Reagan took office. That was the third year of double-digit inflation from the Carter years.
We had double-digit inflation rates the last three years of the President Carter administration. That didn't screw the old and poor? WOW! They were devastated. Anyone who wanted to buy a house paid 18%! It was almost cheaper to put it on a credit card. We were using negative amortization rate mortgages. If you owned the house for five or however many years, the mortgage balance was higher at the end of these years.
Fun times!
A challenge that wasn't necessary?It presents them with an on-going challenge to overcome. Did anyone say otherwise?
Talk about a double whammy! Someone graduating last year missed two years of high school education and got Joe Biden running the economy! They won't be out of their parent's basements for years!