A Quote by Jeane Kirkpatrick
I'm a political scientist and I study these things, and I know that economic problems, with the rising unemployment and inflation and low productivity and so forth, were a factor in that election, in that defeat of President Carter.
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Inflation is certainly low and stable and, measured in unemployment and labour-market slack, the economy has made a lot of progress. The pace of growth is disappointingly slow, mostly because productivity growth has been very slow, which is not really something amenable to monetary policy. It comes from changes in technology, changes in worker skills and a variety of other things, but not monetary policy, in particular.
Government policies try to prevent the emergence of serious unemployment by credit expansion, i.e., inflation. The outcome was rising prices, renewed demands for higher wages and reiterated credit expansion; in short, protracted inflation.
Again and again, universities have put a low priority on the very programs and initiatives that are needed most to increase productivity and competitiveness, improve the quality of government, and overcome the problems of illiteracy, miseducation, and unemployment.
In the name of compassion, Obama advocates seemingly endless extensions of unemployment benefits because his economic theology holds that by paying people not to work, you will create jobs. It not only fails to factor in the obvious deterrent that extended benefits have on their recipients but also falsely assumes that transferring money from one pocket to the next generates more spending - by some mythical multiple factor, no less. Back on planet Earth, studies reveal that extending unemployment benefits results in more unemployment.
The Democrats loved Jimmy Carter, even though - and, by the way, take a look at some economic circumstances. In 1980, the economy of this country was in the tank after four years of Jimmy Carter. I mean, it was desperately bad. Unemployment was sky-high. Carter had seen us through a couple of near-depression recessions, all of this coming out of Watergate, which happened in 1972.
For equity markets, the combination of low interest rates, strong economic growth and low inflation has proved very beneficial, with global share markets rising solidly in each of the past three years. This has been underpinned by strong growth in profits so that, notwithstanding the rise in share prices, P/E ratios have been declining on average.
We will not play with inflation. We are living a delicate moment. President Obama spoke to me today about the high unemployment affecting the United States. In this crisis period, when the developed nations are not recovering, it's prudent to maintain the established inflation target.
But if the choice is a cool president and 8 or 10 percent unemployment in a declining economy and a country that seems to be going in the wrong direction and structural unemployment for young people at 50 percent, I'd rather have a dorky president who fixed those problems.
We in America were worried about many problems dealing with economic inequality and political inequality. The Communist Party seemed to be the only political force, both concerned and willing, to take action to stop the threat of fascism abroad and to work for economic and political reform in this country.
Rising unemployment and the recession have been the price that we have had to pay to get inflation down. That price is well worth paying.
I would say to my colleague that the misery index, inflation and unemployment, when added together is the lowest it has been in the last series of Presidents, even going back to Jimmy Carter. So I think the Bush administration is doing a good job.
The skills and productivity of American Workers, not to mention the taxes they pay, are the greatest economic resource our country has. To condemn large numbers of them to unemployment, to deprive the Treasury of their tax contributions and to force them to live on unemployment at public expense is the most expensive luxury any society ever chose to buy.
A time-tested political tactic guaranteed to raise a president's popularity rating by at least 30 points. It is especially useful during election years and economic downturns.
We are a people trying not only to solve the problems of the present: unemployment, inflation... but we are attempting on a larger scale to fulfill the promise of America.
Low inflation and government prudence may be harmful for economic development.
During a recent press conference, former President Jimmy Carter said he could never run for president today because he doesn't have a lot of money. Well, that and the fact that he's the famously bad president Jimmy Carter.
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