|
Mercnbeth -> RE: New loans or loansharks? (11/18/2009 3:39:06 PM)
|
quote:
ORIGINAL: thornhappy
quote:
ORIGINAL: Mercnbeth
I remember in 1980 when the Prime Rate was 21.5% and I spent my day not making loans, but instead counseling my customers not to borrow until we had elected someone with a clue later that year.
It peaked in December (after the election), but was 19.5-20.5 May-July of 1981, after the cluefull one was in office. It spent awhile in the high teens after that.
It ended up around 11, with a minimum of 7.5 during Reagan's administration (based on some monthly data).
Agreed - However, noting the 'R' Presidency tends to get the flames going and I hoped to avoid that. I certainly remember those times well and prior to that election things were much worse than they were January 2009. It didn't take long to turn things around then, and I don't remember ever, especially in November of that first year, where "It was Carter's fault!" came out of Washington.
|
|
|
|
