Zeev's Turnips Patch-No Politics (ZEEV)

[lee kramer]

Doesn't Add Up: I'm gonna smack you with a wet noodle. The Greenspan article was penned in '81; we'd just been through an horrendous inflation. Gold was higher than an AWAC. The Prime rate, if you believe the boys in government, was 20-21%, Sure. It was higher. You wanna buy a home then, get ready for a 15-16% rate on the mortgage. Lots folks were thinking about heading back to a gold standard in '80 and '81, as a means of avoiding government inflating. Those were tough times.