I thought the wage and price freeze happened under Ford, not Nixon. IIRC it was one of the reasons Carter was elected.


>Does anyone remember the Nixon era? Economic phases one, two, three, four and four and a half? Those economic phases failed to solve our problems at that time but they did help business.
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>An example of the fix Nixon gave our economy was he suggested freezing all wage increases for salaried personal. Union Contracts would not be involved. American business being very patriotic went along with this suggestion. No prices were to increase. Inflation had to be stopped!
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>Additional federal departments were created which created many new jobs. The people employed to act as watchdogs would not address any complaint of raising prices. Food prices went to the moon as well as prices for anything you purchased. Finally the entire idea was scrapped. Such fun! :)
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>>I agree with you 100%, Bob. The anarchist in me wishes for everyone to cash the check and put it under the mattress.
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>>>The whole rebate idea is stupid, but if you are going to do something stupid like that, giving the money to people who will immediately spend it is the only way to get any value from it. They are also lifting the cap on jumbo mortgages backed by Fannie/Freddie, another stupid move; hopefully they will at least require some reasonable underwriting standards. Mark my words, the taxpayers are in for a trillion dollar plus bailout, and even that won’t be enough to cover their past stupidity.
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>>>Lower spending, lower taxing, less war mongering, fiscal responsibility is the real long term answer, but fat chance we will see that (until we are insolvent).
>>>
>>>Bob