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Thread: Poor Ole Jimmy Carter

  1. #61
    Senior Member swampcollielover's Avatar
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    menmom....I too have an MBA...and as I recall they do not teach history in graduate school MBA programs nor do they teach Political Science....

    Now if you are relying on the Economic courses....being in Chicago, the professors, no doubt spent a great deal of time teaching (preaching) 'Keynesian economic' theory. Which as I am sure you know, is the only economic theory that supports political theories about 'redistribution of wealth' (Marxism, Socialism, Communism, etc.)

    That explains a lot as to why you have a bias towards Democrats, unfortunately, I disagree with Keynesian economics's as does anyone who believes in the free market and the power of the 'invisible hand' that Adam Smith wrote about....

  2. #62
    Senior Member DoubleHaul's Avatar
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    Quote Originally Posted by swampcollielover View Post
    menmom....I too have an MBA...and as I recall they do not teach history in graduate school MBA programs nor do they teach Political Science....

    Now if you are relying on the Economic courses....being in Chicago, the professors, no doubt spent a great deal of time teaching (preaching) 'Keynesian economic' theory.
    Not at Chicago. Friedman, Hayek, Harbarger, Fama, Becker, Scholes, Buchanan--Chicago is not known for turning out Keynesians, although somehow menmon, Samuelson and Obama did graduate from there

    As far as stagflation, the Peruvian anchovy fishery failure and the Arab oil embargo roiled producer prices. Nixon did not cause these but his silly wage and price controls just made things worse. I am sure Jerry Ford's W.I.N. buttons would have fixed the problem but he did not get enough time to jawbone it away so, Volker had to break the inflationary expectations.

    In fairness to Carter, much of the deregulation that folks credit Reagan for was actually started under Carter.

  3. #63
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    This is getting interesting like being back in grad school before we had to figure out how to apply what we learned in the real world. When the economic historians get the 50 year material , Carter will come out better than just building Habitat Houses, peace adventures , and attending field trials. We won't be around to see that. He sure got the Ruskies in Afghanistan but paid the price for Eisenhower/Dulles grand plan in Iran (assassination/overthrow). But hey we got 20 years of cheap oil and lots of pistachios. Now we got fracking , a California pistaschio industry and an equal heroin/opium additiction problem in USA/Iran.

  4. #64
    Senior Member menmon's Avatar
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    My point is that Carter policies are not why we had inflation. Carter's fed chairman is who fixed it, and the benefit of deflating the economy did not start really appearing until Bush and then Clinton.

    This is another reason why these stupid wars we get ourselves are not worth it for bomb sales. Think about who drives our appetite for war, and these are the same companies/people that keep making the world more dangerous.

    Johnson was responsible for Vietnam and Nixon, Ford and Carter had this mess to clean up. Bush left his mess to Obama and the next couple administrations.

  5. #65
    Senior Member M&K's Retrievers's Avatar
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    Quote Originally Posted by menmon View Post
    My point is that Carter policies are not why we had inflation. Carter's fed chairman is who fixed it, and the benefit of deflating the economy did not start really appearing until Bush and then Clinton.

    This is another reason why these stupid wars we get ourselves are not worth it for bomb sales. Think about who drives our appetite for war, and these are the same companies/people that keep making the world more dangerous.

    Johnson was responsible for Vietnam and Nixon, Ford and Carter had this mess to clean up. Bush left his mess to Obama and the next couple administrations.
    Your Chicago MBA is showing. Carter not responsible for economic mess? Oh my.
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  6. #66
    Senior Member roseberry's Avatar
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    Quote Originally Posted by M&K's Retrievers View Post
    Your Chicago MBA is showing. Carter not responsible for economic mess? Oh my.
    mike w,
    fwiw, in my view penn's and menmon's historical accounts are correct. i think i may have shared my opinion before that(simply put), the appointment of volker, by carter changed monetary policy dramatically. the change in policy brought temporary mass uncertainty to financial markets and made capital very hard to come by. a few short years later reagan thankfully reappointed volker, keynesians had essentially disappeared, supply siders ruled, wealth was trickling down and the laffer curve put an end to the 50% tax bracket. greed was good!

    but to your point, did carter cause high interest rates, inflation and investment losses? imho yes, by courageously putting the initial and key economic fix in place. he can still run again.....right?
    john mccallie

  7. #67
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    Yes (during Carter/Volker) I was paying 22.5 % interest on a $50,000 six-month bank note which was considered favorable ?

  8. #68
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    Quote Originally Posted by menmon View Post
    My point is that Carter policies are not why we had inflation. Carter's fed chairman is who fixed it, and the benefit of deflating the economy did not start really appearing until Bush and then Clinton.

    This is another reason why these stupid wars we get ourselves are not worth it for bomb sales. Think about who drives our appetite for war, and these are the same companies/people that keep making the world more dangerous.

    Johnson was responsible for Vietnam and Nixon, Ford and Carter had this mess to clean up. Bush left his mess to Obama and the next couple administrations.

    I never realized it took a president's policies that long to work though the economy.

    So the market crash in 2008 we can really blame on Bush 41. All the failures, which it appears, Obama is having right now, are actually Clinton's. However the failures are really successes but we will not experience them until 2025-2030.

  9. #69
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    Quote Originally Posted by menmon View Post
    What do you want to know about government bonds....do you want to discuss the first or second derivative of them?

    Your experience if I remember was that you owned some with a very high coupon. And back when we had that discussion, you were forecasting that the coupons would go high again because of our POTUS and his policies. And I told you not to buy into that rhetoric because rates were going lower. Who was right?

    Ask your friends about the great mortgage rates they have gotten these last few years. What bad president we have…
    When you have a fed creating monopoly money it's not hard to prime the pump - but nothing of value has been created .

    The discussion was about double digit interest rates during & after the Carter administration which you said never happened .
    I've been playing the investing game long enough to know there is no free lunch.

    Quote Originally Posted by swliszka View Post
    Bro love Menmon,,not only do you do the talk but you actually run dogs w/success unlike others who appear here. My guys were Gailbraith and oh my lord , Chomsky, Zinn et al. Did you have to write a thesis for your MBA or have any languages at Chicago? I did and had a three language requirement@ Duquesne. Maybe we have to have standards here by education and achievement , post graduate education ,life achievement , etc.in order to post just like judging? LOL
    There are few that post on POTUS whose name has appeared as OWNER-HANDLER in all stakes in FT News with any regularity .
    There is no measure of those who have given back to the sport by there unselfish devotion to the Go-Fer tasks that make the sport
    what it is. But most of us know who actually knows how to train a dog & not have to go pick it off the Pro's truck on Saturday Morning .

    Quote Originally Posted by swliszka View Post
    I am an Aces High III guy(1988+) , play only w/chocolates , like the extra challenge, and have a 15 month old Ace , Bromley breeding pup.
    Many years back AH's owner was complaining to his training group that AH was not getting the stud fees a dog of his caliber
    would normally get. One of the members of the group commented that most folks who buy a pup from a breeding want an
    opportunity to exhibit that dog in a FT competitively. You apparently are not in that group & would rather enter this forum to
    act like a wise-Azz, which you have just proven not to be!



    John - I didn't see much in the Carter POTUS that would indicate any strategic or financial knowledge - & like many of the POTUS
    who will go on in infamy, he had an inability top attract serious talent to his administration.
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  10. #70
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    Marvin S.. Your English expression is garbled so I will withhold a personal attack on you . When you train-run one's Chocolate dogs in FT and experience sometimes humorous or intended open barbs about your choices you either develop a thick skin or walk away. I am an owner-handler and re: AHIII stud fees , well most of us know the game that it represents. You make your choice you pay your money. Did you ever start and run a successful business ? I did during the Carter years . I got no government handouts , not bitter , but realistic. Thus application of education was the real teacher.

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