Who was the best President in the last 40 years? (excluding Obama)

[Free Trade is managed by the invisible hand.]

They were are all horrible presidents.

[Free Trade is managed by the invisible hand.]

Carter-Hyperinflation, hostage crisis

He didn't have hyperinflation. 20% annual inflation is definitely bad, but it doesn't warrant that term. Also he appointed Volcker who wound up reining that in within a few years.

supply shocks still suck either way.

[Free Trade is managed by the invisible hand.]

Clinton and carter were the best presidents before obama, and after nixon. Just goes to show that you don't have to do much to look better than a republican president.

[Free Trade is managed by the invisible hand.]

Clinton and carter were the best presidents before obama, and after nixon. Just goes to show that you don't have to do much to look better than a republican president.

Ford>Carter

how so?

[Free Trade is managed by the invisible hand.]

Clinton and carter were the best presidents before obama, and after nixon. Just goes to show that you don't have to do much to look better than a republican president.

Ford>Carter

how so?

Carter, unlike Ford, failed to handle inflation or reduce the inflation rate under his Presidency. Also, Carter failed in handling the Iranian hostage crisis.

Carter did appoint Volcker, and secondly he had nothing to do with the supply shock of 1979. On the other hand ford was not president during a supply shock, or an unexpected increase in the inflation rate. Remember consumer inflation is primarily a problem if it is unexpected like it was in 74, and 79.

[Free Trade is managed by the invisible hand.]

Clinton and carter were the best presidents before obama, and after nixon. Just goes to show that you don't have to do much to look better than a republican president.

Ford>Carter

how so?

Carter, unlike Ford, failed to handle inflation or reduce the inflation rate under his Presidency. Also, Carter failed in handling the Iranian hostage crisis.

Carter did appoint Volcker, and secondly he had nothing to do with the supply shock of 1979. On the other hand ford was not president during a supply shock, or an unexpected increase in the inflation rate. Remember consumer inflation is primarily a problem if it is unexpected like it was in 74, and 79.

Inflation began increasing under Carter at the beginning of 1977. He only appointed Volcker two years later.

ok, but when did inflation primarily become a problem?

[Free Trade is managed by the invisible hand.]

Clinton and carter were the best presidents before obama, and after nixon. Just goes to show that you don't have to do much to look better than a republican president.

Ford>Carter

how so?

Carter, unlike Ford, failed to handle inflation or reduce the inflation rate under his Presidency. Also, Carter failed in handling the Iranian hostage crisis.

Carter did appoint Volcker, and secondly he had nothing to do with the supply shock of 1979. On the other hand ford was not president during a supply shock, or an unexpected increase in the inflation rate. Remember consumer inflation is primarily a problem if it is unexpected like it was in 74, and 79.

Inflation began increasing under Carter at the beginning of 1977. He only appointed Volcker two years later.

ok, but when did inflation primarily become a problem?

Depends who you're asking. Considering it was 5% at the start of 1977 and began rising again at that point, it could be argued that inflation started becoming a serious problem again in early 1977.

what was the difference between each year. For example during the oil shock inflation rose more dramatically.

[Free Trade is managed by the invisible hand.]

Clinton and carter were the best presidents before obama, and after nixon. Just goes to show that you don't have to do much to look better than a republican president.

Ford>Carter

how so?

Carter, unlike Ford, failed to handle inflation or reduce the inflation rate under his Presidency. Also, Carter failed in handling the Iranian hostage crisis.

Carter did appoint Volcker, and secondly he had nothing to do with the supply shock of 1979. On the other hand ford was not president during a supply shock, or an unexpected increase in the inflation rate. Remember consumer inflation is primarily a problem if it is unexpected like it was in 74, and 79.

Inflation began increasing under Carter at the beginning of 1977. He only appointed Volcker two years later.

ok, but when did inflation primarily become a problem?

Depends who you're asking. Considering it was 5% at the start of 1977 and began rising again at that point, it could be argued that inflation started becoming a serious problem again in early 1977.

what was the difference between each year. For example during the oil shock inflation rose more dramatically.

The yearly averages were 5.8, 6.5, 7.6, 11.3, and 13.5 for 1976, 77, 78, 79, and 80 respectively. Also, inflation increased by 1.5% between the start and end of 1977, 2.2% for 1978, 4.0% for 1979, and actually decreased 1.4% in 1980.

Here is the link for my data:

http://data.bls.gov/PDQ/servlet/SurveyOutputServlet

So it appears that the Iranian Revolution and resulting oil shock might have accelearated the rise of inflation, but even before the Iranian Revolution and oil shock, inflation was already at/near double-digits, which is double what it was (5%) at the start of Carter's Presidency.

was inflation primarly a political issue due to the oil shocks? Steady increase in the inflation rate are fine,but if inflation increases at abnormal pace than it is usually a problem. For example inflation could increase anywhere from 2-3% per year, but if the increase breaks from that trend than investors will start to lose out.

[Free Trade is managed by the invisible hand.]

Clinton and carter were the best presidents before obama, and after nixon. Just goes to show that you don't have to do much to look better than a republican president.

Ford>Carter

how so?

Carter, unlike Ford, failed to handle inflation or reduce the inflation rate under his Presidency. Also, Carter failed in handling the Iranian hostage crisis.

Carter did appoint Volcker, and secondly he had nothing to do with the supply shock of 1979. On the other hand ford was not president during a supply shock, or an unexpected increase in the inflation rate. Remember consumer inflation is primarily a problem if it is unexpected like it was in 74, and 79.

Inflation began increasing under Carter at the beginning of 1977. He only appointed Volcker two years later.

ok, but when did inflation primarily become a problem?

Depends who you're asking. Considering it was 5% at the start of 1977 and began rising again at that point, it could be argued that inflation started becoming a serious problem again in early 1977.

what was the difference between each year. For example during the oil shock inflation rose more dramatically.

The yearly averages were 5.8, 6.5, 7.6, 11.3, and 13.5 for 1976, 77, 78, 79, and 80 respectively. Also, inflation increased by 1.5% between the start and end of 1977, 2.2% for 1978, 4.0% for 1979, and actually decreased 1.4% in 1980.

Here is the link for my data:

http://data.bls.gov/PDQ/servlet/SurveyOutputServlet

So it appears that the Iranian Revolution and resulting oil shock might have accelearated the rise of inflation, but even before the Iranian Revolution and oil shock, inflation was already at/near double-digits, which is double what it was (5%) at the start of Carter's Presidency.

was inflation primarly a political issue due to the oil shocks? Steady increase in the inflation rate are fine,but if inflation increases at abnormal pace than it is usually a problem. For example inflation could increase anywhere from 2-3% per year, but if the increase breaks from that trend than investors will start to lose out.

From what I learned in my Econ class, a inflation rate above 4 or 5% is bad news economically, regardless of whether it continues to increase at a constant pace or not.

This is what I learned from a PHD student.

Inflation is only bad if it is unexpected. If there was a sudden, unexpected inflation then it could be damaging because it may cause people to make poor decisions. Like expanding a business because it appears that profits have gone up, and not realizing that costs have too. But if inflation is stable and consistent it gets built into the system. For instance we have a steady 2.5% inflation rate, if I am a lender and I want to earn 3% interest I can build my rate around the inflation rate by making my rate 5.5%. It just gets built into the system.

Finally , inflation is necessary. Not a lot of it, but a little.That is why hot economic productivity is strongly correlated with lots of inflation, and in fact ever since the dawn of the era inflation has been common. Over time people increase, productivity increases, GDP increases, and likewise the money-supply naturally needs to increase. [additionally fighting inflation and fighting unemployment are mutually exclusive strategies]

This is also something very similar to what a particular textbook i am thinking of right now, and that i could probably buy in stores. In fact this very same textbook has almost the same exact words that the book uses, almost.

[Free Trade is managed by the invisible hand.]

Clinton and carter were the best presidents before obama, and after nixon. Just goes to show that you don't have to do much to look better than a republican president.

Ford>Carter

how so?

Carter, unlike Ford, failed to handle inflation or reduce the inflation rate under his Presidency. Also, Carter failed in handling the Iranian hostage crisis.

Carter did appoint Volcker, and secondly he had nothing to do with the supply shock of 1979. On the other hand ford was not president during a supply shock, or an unexpected increase in the inflation rate. Remember consumer inflation is primarily a problem if it is unexpected like it was in 74, and 79.

Inflation began increasing under Carter at the beginning of 1977. He only appointed Volcker two years later.

ok, but when did inflation primarily become a problem?

Depends who you're asking. Considering it was 5% at the start of 1977 and began rising again at that point, it could be argued that inflation started becoming a serious problem again in early 1977.

what was the difference between each year. For example during the oil shock inflation rose more dramatically.

The yearly averages were 5.8, 6.5, 7.6, 11.3, and 13.5 for 1976, 77, 78, 79, and 80 respectively. Also, inflation increased by 1.5% between the start and end of 1977, 2.2% for 1978, 4.0% for 1979, and actually decreased 1.4% in 1980.

Here is the link for my data:

http://data.bls.gov/PDQ/servlet/SurveyOutputServlet

So it appears that the Iranian Revolution and resulting oil shock might have accelearated the rise of inflation, but even before the Iranian Revolution and oil shock, inflation was already at/near double-digits, which is double what it was (5%) at the start of Carter's Presidency.

was inflation primarly a political issue due to the oil shocks? Steady increase in the inflation rate are fine,but if inflation increases at abnormal pace than it is usually a problem. For example inflation could increase anywhere from 2-3% per year, but if the increase breaks from that trend than investors will start to lose out.

From what I learned in my Econ class, a inflation rate above 4 or 5% is bad news economically, regardless of whether it continues to increase at a constant pace or not.

//From what I learned in my Econ class, a inflation rate above 4 or 5% is bad news economically, regardless of whether it continues to increase at a constant pace or not.//
Respond to prior response before engaging in this question.
did the proffesor, or texboot ever explain why that is?

[Free Trade is managed by the invisible hand.]

don't you realize that inflation is sticky on the way down? that is why the inflation in prices during the 70's was so high!