Lodi, WI
Quoted from cottonm4:In 1978, Carter was President. In 1978, we suffered from a cut off of oil from Iran. Gas lines formed. Gas prices went up; Along with everything else. Carter's solution? Print money. Print lots of money.
It was hard times for many people.
In 1980, Ronald Reagan was voted as President. Inflation was rampant. In 1981, Paul Volker was the Chairman of the Federal Reserve. To combat inflation, Volker jacked interest rates to 22%. Oil prices collapsed and oil workers were roaming the country looking for work.
Unfortunately, time erases memory and many who were born after him and even those who lived it, forget what it was like. My parents bought a shitty house and were overjoyed at getting a land contract with a 14% interest rate. Carter may be good at building houses, but he was a horrible President.
