The 1970s are described as a period of stagflation, meaning economic stagnation coupled with price inflation, as well as higher interest rates.
Price inflation caused interest rates to rise to unprecedented levels (above 12% per year). The prime rate hit 21.5% in December 1980, the highest rate in U.S. history.
The economy suffered double-digit inflation, coupled with very high interest rates, oil shortages, high unemployment, and slow economic growth.
The Soviet invasion of Afghanistan marked the end of détente, and Carter did nothing.
From November 4, 1979 until January 20, 1981, a 444-day period and Carter sat with my thumb up his *** while 63 americans were held hostage in Iran.
Unlike GWB, when Carter ran for re-election He lost 44 states and was completely humiliated in one of the worst landslides ever.
2007-09-04
10:47:24
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22 answers
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asked by
PNAC ~ Penelope
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Politics