Comments on Wisdom Steps 101 ... Be Weird...Be Debt Free: Was Jimmy Carter Right on Economics?

mcfnord -

I wonder if America is ready to l...

2008-03-31T07:49:00.000-05:00

mcfnord -

I wonder if America is ready to listen yet.

CARTER was right about a lot of stuff! But America...

2008-03-30T12:51:00.000-05:00

CARTER was right about a lot of stuff! But America wasn't ready to listen.

my debt -

That's true. Reagan is given cre...

2008-03-27T15:19:00.000-05:00

my debt -

That's true. Reagan is given credit for seemingly killing inflation and everyone knew that the recession came from the pre-Reagan years. However, as we see inflation creeping back in, one wonders if we need a combination of Reagan and Carter's tactics to curb inflation for good.

We need increased interest (Reagan) and decreased spending (Carter), to get things back on track again.

Carter's attitude toward consumption was right, no...

2008-03-27T15:06:00.000-05:00

Carter's attitude toward consumption was right, no doubt. But with inflation out of control, Americans wanted to spend, because their money wasn't doing any good in savings.

Carter didn't take the Fed seriously enough, and that was his biggest economy-related mistake. When Burns left in 1978, he should have put a Fed boss in place who would break inflation's back with high interest rates, like Paul Volker eventually did. Yes, Carter was the one who appointed Volker, but the actions that needed to be taken weren't implemented until Carter was out of office for a while. Appointing G. William Miller as Fed chairman was a big mistake. Miller kept rates low when inflation was a VERY serious problem; Carter encouraged this dovish policy.

After Volker killed inflation, the resultant recession during Reagan's first term didn't hurt Reagan's legacy one bit, wouldn't you agree?

e last 10-years, my opinion of him has changed. I...

2008-03-27T13:57:00.000-05:00

e last 10-years, my opinion of him has changed. I certainly like how he was honest, and with my increased understanding of economics and finances, I am more of a fan then before. He is the only politician I know, that shows up and volunteers (especially at habitat for humanity sites) whether the press is there or not.

However, Reagan was the 1st President I really remember. I was in 6th grade, when Reagan was elected.

I remember, casting my "vote," in class for John Anderson. I remember a few months later learning, that Reagan had been shot, and how sad I was. How scared I was, I thought for sure the 20-year curse had got the President who eventually would be my hero.

However, I really don't think the mess with the economy is necessarily a political issue. Instead, as I said, we as citizens must learn to live within our own means. Even though, we, on the whole, don't want to hear that. We don't want be told that it is our fault. We don't want to believe that we can correct it, instead we want to government to bail us out, as we continue to overspend.

You know Prince, Carter was the first President I ...

2008-03-27T13:06:00.000-05:00

You know Prince, Carter was the first President I remember growing up. I remember looking at him as a hero. He was kind, caring and concerned about all of us.

I guess you could say, he was a "grandpa" type in the white house. I have not felt the same about any President since.

I remember his final speech, when he conceeded the loss to Regan. His words "I told you I would never lie to you and I'm not going to lie now - it hurts." are something I have heard played again and again in my mind.

I personally, think a big mistake was made by the people, when they pulled him out.

I hated how Regan got the credit for the hostages being released, when Carter clearly did all the foot work to make that deal a go.

Thanks for the reminder - I think he is a great man.