Everything happening in our fractured nation today seems so worrisomely reminiscent of America's last lost decade -- the 1970s.
Everything happening in our fractured nation today seems so worrisomely reminiscent of America’s last lost decade — the 1970s.
Every time inflation rose, the economic whiz kids in Washington assured us the high prices were just temporary. When prices kept rising, Mr. Carter blamed corporate greed and installed price controls and windfall profits taxes — which only made problems worse. Mr. Carter had the worst record of inflation in modern times. President Biden is right behind him.
Interest rates on mortgages skyrocketed to 17%, and buying a home became financially out of reach for most Americans. On energy policy, he’s doubling down on his commitment to “net zero” fossil fuel production and will command people to buy $70,000 electric vehicles made in China. Mr. Biden’s response is that Americans are unappreciative, and we are all selfish for not wanting to live with less and giving up our gas stoves and SUVs to save the planet.
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