Um...sorry - but you hit one of the words on my 'pet' list. It's 'reign' - President Nixon didn't fall from the sky in droplets, thank the gods for small favors.


>During President Nixon’s rain as President of the United States, were we experiencing inflation. To solve this problem the Republican’s developed a formula that demanded that we have 6% unemployment. This would automatically prevent inflation, was the thinking of the gods.
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>In addition President Nixon announced five economic phases that were to go into effect, and they were 1, 2, 3, 4, and not to be forgotten 4 ½!
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>The demands were simple: No one was to receive a pay raise, unless you were under a union contract. No prices were to raise for anything for any reason. Stiff punishments were to be given for disobeying either of these two dictates.
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>Needless to say that companies rushed to limit employee raises. After all, you want to be a good patriot and help save the nation! When it came to prices that is another story. Prices went through the roof and people complained. It is interesting to note that not one case of raising prices was prosecuted. But no one received a pay raise, so all was well.
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>Finally, Nixon realized that you could not micromanage the United States economy and gave up on his Economic Phase Plans. I could not determine if Wall Street types received Bonuses during those times, but I bet that Bonuses were exempt! :)