TODAY’S USEFUL IDIOT: Steve Kangas! Oh wait…

I was browsing around the internet today and I ran across this pathetic attempt to re-write history and paint the moron Carter in a better light.

“Carter cannot be blamed for the double-digit inflation that peaked on his watch, because inflation started growing in 1965 and snowballed for the next 15 years.”

Having lived through these years, I clearly remember what a disaster Carter was.

“In 1980, the ‘misery index’ — unemployment plus inflation — crested 20 percent for the first time since World War II. Ronald Reagan blamed this on Jimmy Carter, and went on to win the White House. Reagan then caught the business cycle on an upswing, for what conservatives call ‘the Seven Fat Years” or “the longest economic expansion in peacetime history.’

Were either of these presidents responsible for their fortune with the economy? No. Carter battled the peak of an inflationary trend that began in 1965. In the following chart, take special notice of the long, slow climb in the inflation column…”

Carter didn’t battle the peak of an inflationary trend that began in 1965, HE CAUSED THE PEAK(S)! Reagan didn’t catch the business cycle on an upswing, HE CAUSED THE ECONOMIC UPSWING. I was there, I remember! The markets (and pretty much everyone) were so happy to be rid of Carter that things just got better on the news. Hell, even Iran returned the hostages on the news of Reagan’s win.

Anyway, not being satisfied with actually living through it and knowing what happened, I looked at Kangas’ own data. Here is a graph, made from Kangas’ own data, that pretty much proves Carter was the force behind the economic disaster that was the 1970s.  PLEASE NOTE: Unlike the presidents, Nixon, Ford & Reagan, Carter’s I*U line only increases.

gloriouscarteryears1

[Un]fortunately, this nut-ball Steve Kangas died in 1999 so this award has to be awarded posthumus. It will still be awarded because some other kook is keeping his site up and running.

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