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lee kramer

06/28/03 3:43 PM

#124466 RE: Doesnt Add Up #124461

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.