Thursday, February 21, 2008


Halfway through tonight's Democratic debate, Hillary Clinton proposed a freeze on interest rates:
So I would put a moratorium for 90 days, to give us time to work out a way for people to stay in their homes, and I would freeze interest rates for five years. Because these adjustable-rate mortgages, if they keep going up, millions of Americans are going to be homeless. And vacant homes will be across the neighborhoods of Texas and America.

There was another American politician with national stature who once proposed a freeze on wages and prices.

(And a young attorney, just commenced on a "35-year" career of service, worked on the impeachment of that very politician.)

Of course, that was during a time of high inflation and high unemployment. "Stagflation" they called it.

Not like today.

No comments: