Inflation Devastation for the Democrats
Townhall,
by
Kurt Schlichter
Original Article
Posted By: Hazymac,
12/16/2021 8:55:54 AM
Most of you whippersnappers were not even Planned Parenthood targets back when inflation was last a thing. It was the late-seventies, which you people associate with funky clothing and disco music. Most of us who lived through that miserable decade associate it with economic malaise, notably including massive inflation and 18% interest rates.
Yeah, think about 18% interest, all you folks with an adjustable rate loan. You’re spoiled by cheap money and low inflation. You are about to learn a lesson in economics. See, when Uncle Sucker prints lots of money and there are fewer things to buy, you get inflation. Prices rise. And your standard of living falls.
Reply 1 - Posted by:
Proud Texan 12/16/2021 9:25:18 AM (No. 1008856)
The author must have led a protected life. I remember 21% rates. This may be a political problem for Democrats, but is a feature to their overall plan of ridding the world of us pesky small businesses.
8 people like this.
Reply 2 - Posted by:
Highlander 12/16/2021 9:26:11 AM (No. 1008858)
I try to work closer to home these days. I’m paying $4.15 cash now at the pump. With a card, it’s $4.25. I remember $0.15 while in high school.
7 people like this.
Reply 3 - Posted by:
Hazymac 12/16/2021 9:35:13 AM (No. 1008874)
#1 remembers as I did. The prime interest rate peaked at 21.5%. Few businesses could absorb borrowing costs that were so high. What this lawless administration has done by turning on the money presses at the Bureau of Engraving and Printing is going to inflate our currency alarmingly. Undoing the damage will take decades, if the damage isn't permanent.
11 people like this.
Reply 4 - Posted by:
jalo1951 12/16/2021 9:41:22 AM (No. 1008887)
I remember the local Kroger offering a mixture of 80% ground beef to 20% of soy. And my husband and I were able to assume a mortgage at 6% interest which was unheard of. We never would have been able to buy a house at 18%. We use to get phone calls from companies wanting to help us lower our mortgage rate. We would tell them our rate was 6% and they would flip out. Literally screaming into the phone "how was that even possible". Yeah, this is bad but I expect it to get even worse. When FJB blames big greedy meat processers or gas prices on Russia (and not the fact that he shut down our ability to be energy independent) you know you are in for a rough ride. Don't believe anything they tell you.
12 people like this.
Reply 5 - Posted by:
ussjimmycarter 12/16/2021 9:45:23 AM (No. 1008892)
Was selling cars during the Carter Admin in Waterloo, IA. All the dealers literally went insane! 20% interest on their floor plan! A $10,000 St Regis cost $2,000 a year to put on the lot! We only made around $1,500 profit at sticker price and with finance rates of 21% we didn’t sell anything at sticker! Ronald Regan came along and I became a 23 year old conservative!!!
8 people like this.
Reply 6 - Posted by:
franq 12/16/2021 9:53:51 AM (No. 1008909)
Mr. Schlicter shreds the libs failed policies. Jimmah was just a preamble. Zhoa has the destruction in high gear.
5 people like this.
Reply 7 - Posted by:
Krause 12/16/2021 10:31:35 AM (No. 1008967)
12% home mortgages back in the Jimmy Carter era.
4 people like this.
Reply 8 - Posted by:
Maggie2u 12/16/2021 10:55:23 AM (No. 1008995)
We bought our first house exactly 50yrs. ago this week. The interest rate was 7%.
I can't be the only one here old enough to remember WIN? Whip Inflation Now? If I check my jewelry box I bet the pin I had is still in there somewhere. How about the wage and price freeze the Nixon administration put in place? That didn't work very well either. G-d, it's a weird feeling knowing you're the same age as old people.
6 people like this.
Reply 9 - Posted by:
Vaquero45 12/16/2021 11:56:19 AM (No. 1009086)
Yeah, I remember the 70’s. High interest rates, disco, ridiculous clothing, crummy cars from Detroit, and Democrats in charge as far as the eye could see. Hostages in Iran, that bucktooth idiot in the White House wearing a sweater. In 1979 I lost two jobs in six months because of high interest rates. The recession hit bad in late ‘79; the auto factories shut down, there were gas shortages (again). It started to turn around in ‘81 thanks to Reagan, but it was still tough until about 1983 when the Republican cures started to take effect.
If we can get a Republican president and congress in 2024, it will take about three years to get everything back on track.
3 people like this.
Reply 10 - Posted by:
DVC 12/16/2021 1:08:34 PM (No. 1009190)
The interest rate on my first home mortgage was 12.5%. Thankfully, four or five years later I was able to refinance for 9%.
Kids today with 2 9% mortgages have no clue what inflation is like. And it was the Demonrats doing it back then, too.
2 people like this.
Reply 11 - Posted by:
mc squared 12/16/2021 1:37:58 PM (No. 1009242)
It's as if the Commiecrats know there will never be a Republican victory again.
0 people like this.
Reply 12 - Posted by:
Kumoan 12/16/2021 9:27:25 PM (No. 1009613)
I remember rushing to the bank because the mortgage rate was going up from 17% to 18% the next day. I also remember when everyone was so perplexed when company's catalogs first started showing up with no prices in them, because prices were rising so often.
How many folks are going to be screwed over when mortgage renewal time arrives? A nice 3-5% or so bump in the mortgage rate is not a nice thing...been there.
3 people like this.
Below, you will find ...
Most Recent Articles posted by "Hazymac"
and
Most Active Articles (last 48 hours)