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by crypto420_69
1389 days ago
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Not just that. He mentioned the 1970's and 80's five times, which was a period of high inflation, high rates and civil unrest. From https://en.wikipedia.org/wiki/Paul_Volcker#Chairman_of_the_F...: "Volcker's Federal Reserve board elicited the strongest political attacks and most widespread protests in the history of the Federal Reserve (unlike any protests experienced since 1922), due to the effects of high interest rates on the construction, farming, and industrial sectors, culminating in indebted farmers driving their tractors onto C Street NW in Washington, D.C. and blockading the Eccles Building. US monetary policy eased in 1982, helping lead to a resumption of economic growth" TL;DR it's going to get ugly |
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