Liberal Forum

Cannonpointer » 22 Jul 2014 11:52 pm » wrote:Carter inherited that stagflation from Nixon taking us off Bretton Woods - so there ya go. Reagan fixed Nixon's mess. Whatever, son. The FEDERAL RESERVE is the real culprit and both parties play ball.

Yes, but no, Carter re-inflated the dollar after to some degree Ford stabilized it and the economy, so Carter deserves the blame for his own actions and the resulting problems.

And it began with LBJ, not Nixon, although he did worsen the problem.

Not to mention, inflating the dollar is "acceptable" if not recommended by liberal economists like Krugman, but opposed by Free Market supporters.