Souring gas prices. Fears of rising inflation. Hordes of unemployed.

 

Portrait photograph of 39th President of the United States of America, James Carter

Jimmy Carter Then

A President over his head and considered weak by enemies and allies alike around the world.Don’t like what you’re seeing in today’s headlines? Don’t fret. Those were just some of the concerns from the late 1970s.

The more things change the more they stay the same. History repeats itself. It’s déjà vu all over again, as Yogi Berra would put it. Those phrases stay in vogue or become revitalized because we never seem to learn. But actually, we do learn . . . eventually.

Our current economic woes have caused some observers to remark that our plight is the worst we’ve seen since the Great Depression. It’s really the worst we’ve seen since the late 1970s. And we got out of it — with an economic boom that lasted a couple of decades.

Just as President Carter agonized over double-digit inflationand unemployment rates, the energy crisis, and insurmountable chaos in Iran, President Obama apparently has his hands tied with fears

Barack Hussein Obama the 44th President of the United States of America

Obama Today

of stagflation and sustained unemployment predicted to last for years, escalating gas prices, fanatics in Iran and upheaval throughout the Middle East.Progressives are now faced with damage control, even resorting to calling Obama a “conservative,” exactly what some liberals tried to do with Carter as the 1980 election approached.

Campaigning for Sen. Ted Kennedy’s run against Carter during the 1980 primaries, watch and listen as Carroll “Archie Bunker” O’Connor compared Jimmy Carter to Republican Herbert Hoover.

By November 1980, the American public had enough and sent Ronald Reagan to the White House. Under President Reagan, shifts in economic policies kept inflation under control and gas prices stabilized. Unemployment rates went from 10 percent to single digits, steadily dropping with occasional fluctuations for the next 25 years. Reagan’s tax cuts helped the stock market skyrocket through the 1980s and 1990s.

Ronald Reagan, the 40th President of the United States of America and arguably the finest President to serve in 20th Century

Ronald Reagan

Reagan even threw in the destruction of the Soviet Union for dessert. While communist insurgency spread throughout Central America and Africa during the 1970s, it suddenly fell to a complete standstill. Reagan was re-elected by a landslide in 1984 as the country once again felt good about itself.

Will it be déjà vu all over again? Do we need another Reagan? Perhaps we need somebody different. Times change. The country may have needed an FDR in the 1930s and a Reagan in the 1980s. We may benefit from someone with the proper vision and leadership skills to carry us through the 2010s. Fear not. When federal leaders fail, the American people succeed.

How To Take Back Our Financial System

Recently, I read a book that I recommend to everyone, but be forewarned it will be most helpful for you to be a bit of a nerd as we used to say. In a nutshell, this is a rather dry book, but the information contained within

Graphical representation of a torn dollar forming the downward trend in the US dollar's purchasing power during the 20th century

The "Fed" Effect on the Value of the Dollar 1900 - 2000

is priceless. Its title is, “A History of Money and Banking in the United States”, by Murray N. Rothbard. I was motivated to buy this book after having borrowed a CD from my brother on the history of the Federal Reserve and listening to it on the way home from our last visit.

Since then, especially given all we hear and read about today, I have wrestled with how to explain this system, both the banking and politics of it to others who love this country but are interested in neither politics nor banking. Then today, the video below arrived in my email like an answer to my prayers.

Without a doubt, while this will take a few minutes of your time, it is the best explanation I have seen to date of our recent banking collapse, the debt politics of today, inflation, the Federal Reserve, and how they are all intertwined.

Please, take a few moments and watch this animated explanation of what is really happening. I doubt it will surprise you, but perhaps it will help for those of us who know the outbursts we are seeing in this country are surreal. In this a country of people who are ordinarily and historically kind, compassionate, reasonable, thinking people. Folks who, regardless of their station in life, understand, “There is no such thing as a free lunch”.