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Originally Posted by 3 Yrs to Go
You really think politicians control the price of gasoline?
Crude oil is down from about $78 / barrel to $64 in the past month or so. Do US politicians also control the global price of oil? I guess that would make Jimmy Carter about the stupidest person on earth.
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They can control the supply, which does control the price (e.g. - releasing emergency reserves etc.)
Jimmy Carter was a Stupid Politican, because he did things to the economy which hurt him in the short run. Increasing the Prime rate to 20% so that inflation would be contained. The Fed learned all it moves from the Fed Chairman that Carter appointed that tamed the inflation of the 70's. He took the tough medicine that the economy needed.
Not a stupid person however. Today we have stupid voters, that elect Politicians that cut taxes and do not cut spending - Just deferring the taxes not eliminating them. This is the Voodoo economics that Bush Sr. described that his Son is now implementing.
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