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Old 12-27-2006, 03:02 AM   #1
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Pay Your respects to President Ford.

.
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Old 12-27-2006, 03:05 AM   #2
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oh boy, I'm not touching this one with a ten foot pole.

Look, there will always be varying perspectives on dead people, especially dead prominent people. For the record I think the first thread would have been better left open, but whatever.

And anyway, it's not when anyone dies, it's only when certain people die. There will be no condolences thread for Saddam Hussein, I guarantee that (nor should there be).
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Old 12-27-2006, 03:19 AM   #3
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Well I'm sure there are a few exceptions in some people's eyes. Sorry, perhaps I didnt word my post properly, which is why I dont post here.
I was just fulfilling a request for someone that was obviously upset.
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Old 12-27-2006, 06:00 AM   #4
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He could fall down stairs better than any other world leader in history.
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Old 12-27-2006, 08:34 AM   #5
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Hope this isn't interpreted as "speaking ill of the dead," but here's an article that helps put some of the economic chaos of the 1970s into perspective:

http://money.cnn.com/2006/12/27/news...ion=2006122708

Quote:
Gerald Ford's economic legacy
Former president was forced to deal with massive inflation and unemployment during his term.
December 27 2006: 8:24 AM EST

NEW YORK (CNNMoney.com) -- Gerald Ford's presidential term was as much marked by the economic forces of inflation as it was the political fortunes of the time.

Ford, who was sworn in as president on Aug. 9, 1974 after the resignation of Richard Nixon, faced inflation that was already surging at a 10.9 percent annual rate in that month. It was thrust into overdrive by the OPEC oil embargo of 1974 and the elimination of wage price controls instituted in the Nixon administration.

As energy comprised more of the nation's GDP in the early 1970s, soaring gas prices had an even more profound effect on the U.S. economy than recent gas price hikes have.

Rising energy prices also contributed to higher unemployment by slowing consumer demand for companies' products, according to Mark Ratkus, economics professor at LaSalle University in Philadelphia.

Ford's approach to controlling inflation, according to his White House biography, was through modest tax cuts and spending restraints. He also sought "to decontrol" energy prices in order to simulate production.

One of Ford's more memorable attempts to restrain inflation at the time was an initiative called Whip Inflation Now. In a televised speech given Oct. 8, 1974 Ford described the plan that was to enable Americans to personally remedy rising costs:

"Here is what we must do, what each and every one of you can do: To help increase food and lower prices, grow more and waste less; to help save scarce fuel in the energy crisis, drive less, heat less.

"Every housewife knows almost exactly how much she spent for food last week. If you cannot spare a penny from your food budget - and I know there are many -surely you can cut the food that you waste by 5 percent."

Buttons with the initials 'WIN' were distributed and people were encouraged to wear them to help raise the public's awareness of the effort.

The idea was for inflation to be contained and combated on the individual level.

WIN proved to be an ineffective step, "both from the public relations aspect and an economic one," said Daniel Mitchell, professor of management and public policy at UCLA.

"Buttons on lapels weren't going to deal with this sort of thing," Mitchell said.

"Up to that time, we'd never had inflation and higher unemployment," Ratkus explained. "It created a stagnant economy and a term that has since entered into textbooks: 'stagflation.'"

President Ford, who inherited many of the nation's economic problems from the previous administration, was defeated in the following presidential election.

Jimmy Carter was sworn in as president in 1976.

Inflation remained a problem throughout the 1970s, finally peaking at an annual rate of 13.5 percent in 1980.

It wasn't until the early 1980s that inflation was brought fully under control.

Many credit the Federal Reserve led by Carter-appointed chairman Paul Volcker with his "tough monetary policy."

Volcker limited the growth of the money supply which resulted in a recession and high lending rates.

Volcker "wrung inflationary psychology out of the economy," said Ratkus, who explained that until then people expected a certain amount of inflation in prices.

The expectation of inflation set the stage for sharp rises in costs and "helped create a self-fulfilling prophecy of sorts," said Ratkus.

Since then interest rates and inflation have remained relatively low.
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Old 12-27-2006, 10:29 AM   #6
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The economic chaos of the 70's was mostly under Carter's term- the collapse of the steel industry, the first high gas prices, inflation out of control. I don't see how Ford gets the blame for this in retrospect. Carter is seen as a great guy now, but in his time, he was hated and ridiculed as a joke too and voted out in a landslide. There were reasons for that.

Anyway RIP Mr. Ford. Every dead person deserves respect.
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Old 12-27-2006, 01:38 PM   #7
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RIP.

He was thrust into a difficult situation and did what he thought was right. I don't agree with some of what he did, but I respect his reasoning for doing it.
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Old 12-27-2006, 02:34 PM   #8
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RIP. He got stuck in a hornet's nest, a decent man stuck in a cesspool. Unfortunately, he had to pay a price. I voted in my first election in 1976, for Carter. I don't regret my vote, even though you're right, butterscotch, Carter got incredibly unpopular by way of massive screw-ups (IMHO letting the Shah into the country was a mistake--I thought the Shah was scum). And I voted for a socialist in 1980, but that's another thread.
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Old 12-27-2006, 05:00 PM   #9
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Quote:
Originally posted by phanan
RIP.

He was thrust into a difficult situation and did what he thought was right. I don't agree with some of what he did, but I respect his reasoning for doing it.
You probably summed up my feelings better than I did last night way past my bedtime.
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Old 12-27-2006, 08:46 PM   #10
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RIP

loved his cameo in the simpsons
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Old 12-27-2006, 11:16 PM   #11
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well, He was still better than GWB!
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Old 12-27-2006, 11:46 PM   #12
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RIP and my condolences to the Ford family.
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Old 12-28-2006, 08:20 AM   #13
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Quote:
Originally posted by Butterscotch
The economic chaos of the 70's was mostly under Carter's term- the collapse of the steel industry, the first high gas prices, inflation out of control. I don't see how Ford gets the blame for this in retrospect. Carter is seen as a great guy now, but in his time, he was hated and ridiculed as a joke too and voted out in a landslide. There were reasons for that.
And the seeds for all of that stem from problems that started in Nixon's administration, but ultimately culminated in Carter's term. The collapse of the Bretton Woods international monetary system in 1971, coupled with the rise of OPEC's power starting in 1973 (yep...Nixon's term again) was ultimately the cause of stagflation, and, ironically, it was Carter's Federal Reserve Chairman appointee, Paul Volcker, who actually ended it. However, by the time his high interest rates did their job, it was already well into Reagan's first term.

Nixon's appointee to the Chairman of the Federal Reserve, Arthur Burns (1970-1978), bears much of the blame, as he firmly believed that Americans would not accept long period of high unemployment that could result from actively tackling inflation as Volcker ultimately did.

Essentially, Carter doesn't deserve as much blame as he has received.
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Old 12-28-2006, 08:22 AM   #14
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And Reagan wouldn't deserve as much credit, which political group finds that appealing?
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Old 12-28-2006, 08:38 AM   #15
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Quote:
Originally posted by A_Wanderer
And Reagan wouldn't deserve as much credit, which political group finds that appealing?
Reagan doesn't deserve as much credit, if you believe that Paul Volcker is the one responsible for ending inflation--as is the general consensus. However, Reagan can be credited for staying the course.

On the other hand, our massive national debt owes an awful lot to Reagan, as well.
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