Ken;

There is a concept that unemployment must be at a specific level to avoid inflation. Nixon wanted 6% unemployment and Bush had over 10%. Inflation was much higher than it is now. What we are experiencing and have been for the last five years defies what the economists profess should occur.

Playing with the American economy at any level is dangerous. The economy is like a three-dimensional spider web. Nixon had a number of economic measures enacted, which prohibited increasing prices and wages (except for union contracts then in force). The result was this: Many companies froze salaried employee’s wages and raised the price of goods. No action was taken against a company for increasing the cost of its products even the law did not allow this to occur. I recall Nixon giving names to each of his economic phases Phase1, 2, 3, 4,and 4 1/2.

Tom