Posted by rrlund on January 11, 2010 at 12:31:13 from (216.46.211.113):
In Reply to: Re: Gas Prices posted by trucker40 on January 11, 2010 at 12:14:32:
Yup,it is. I sure pray that we never see interest rates like those from the 70s and early 80s again. I bought a new tractor in February of 1981 and paid 17.5% interest. I know guys who borrowed operating money that spring for 21%. We CAN'T go back to that,but it's where we're headed. All courtesy of the US Government. We had those rates because Nixon,Ford and Carter printed so much money to finance their deficits. Reagan knew that and made a deal with Congress to borrow money instead of printing it until they got spending under control. They NEVER did. Then that little genious Bush started printing money again to make it look like his deficits were smaller. NOW look at the mess we've got. The current administration is no smarter than the last one and Congress is in line right behind the White House when it comes to the fiscal aganda. I have ZERO optomism that any of this will ever end well. But,I'm in the last stage of grief when it comes to loosing this country,acceptance. There's NOTHING folks like you and I are going to do about it my friend.
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