Resurfaced 1978 SNL clip, Dan Akroyd on inflation policy. A MUST WATCH

I was alive during those years, the part people forget is how painful the recovery was during the first half of Reagan's term in office.

Interest rates got jacked so high it was ridiculous and the same thing is going to happen after the elections.

Karmic Law they have to tell you in advance

Yes

Please not again.

Is this "shower" as in "shower, shower" or the "shower" that requires train transportation.

The inflation of the mid- to late '70s was neither Ford's nor Carter's fault. Ever hear of the Arab Oil Embargo of 1973?

A barrel of crude oil had cost $2 for decades. Everybody was making good money from those $2.

OPEC was pissed that we'd been so cozy with Israel during the Yom Kippur War. It was "the straw that broke the camel's back" (I'm so funny). It dawned on someone that the world needed their oil more than they needed the $2. I
can't think of the guy's name, but he assured King Faisal that they were the ones with all the leverage. It's not like the world could turn around and boycott OPEC oil, then or now.

Crude oil almost immediately jumped to $12/barrel. Gasoline
had been about 30¢, and it jumped to about 50¢. Something like this reverberates through an economy, and the reverberations tend to continue indefinitely.

Ford tried to lead, showing off his WIN (Whip Inflation Now) buttons. Short of price controls, though, what could he do? When your suppliers jack their prices 25%, patriotism might make you not want to raise your prices, but then the books don't balance. And then the supplier raises prices again, and you've had to give your employees a big raise, so you have to raise your prices again.

Carter stepped into this mess. He's a smart guy, but he didn't have an answer, either. Moreover, his leadership presence was a bit lacking. Congratulating us on our "national malaise" was an odd move.

Reagan took the helm, and he had a knack for "presiding". Presiding well doesn't solve problems, either, but it does bolster the mood. Paul Volcker steered interest rates into the stratosphere, and while that played hell on the overall economy, it managed to stop the steady rise in prices. Choking off demand, I guess. It worked.

SINCE THEN, they've come up with ways to understate inflation. "The official rate of inflation is 4.4%, so you are probably justified inflating your prices 4.4%. Even though the actual rate is closer to 15%." Their imaginary "marketbasket" of goods apparently doesn't include many groceries.

not only that they have been a threat for decades now.



can't shower anymore buhuuu, dumb idiot.

9 11 happened under a republican administration and it was an inside job. They play us both sides to the middle.

Not the video, but transcript.


SNL Transcripts: Steve Martin: 11/04/78: A Special Message From the President of the United States

[link to snltranscripts.jt.org (secure)]

Marxist TV programming from the 70's. Yeah let's all just laugh at issues that will destroy our lives. This garbage is what pacified millions into doing nothing to stop the Marxist NWO takeover of the West.

Trump signed a 7 trillion dollar check and shut down the economy. Both parties are in on it and you fkn know it.

You mean biden and his regime and his co-criminal that's blackmailing him (zelensky), don't you, Germany?

Because the inbred C@os3n ones are constantly infiltrating civilizations using the same tactics over and over.

IT'S NOT UH RECESSION UNTIL THERE ARE 4 OR 5 CONSEQ. QUARTERS!

SO...BY UH...APRIL 1ST IT MIGHT BE AN OFFICIAL RECESSION. UH..

How you been, UH?