Reagan coverage over the top?

[conjur]

Originally posted by: namike

Remember Carter's fireside chats? Lounging around in his blue jeans, telling americans to put away them credit cards, don't buy anything. He was like some heehaw throwback. Reagan brought some integrity back to the WH.

uhh...no.......uhhh..not the wrong thread...i was adding to the post above me, where he mentions "to put away them credit cards, dont buy anything." Last time i checked intrest rates had something to do with credit, at least i thought....uhhh

And interest rates on credit cards are how high right now? If you have great credit, it will be <10%. If you don't, more like 18%. Buy some furniture on credit? Oh yeah...well into the double-digits. Finance companies are making a killing.

 

[namike]

18% on bank LOANS, like for a house. I figured you would get confused...VISA is not run by the Government......VISA has always had high intrest rates.

 

[conjur]

Carter was talking about credit cards. He didn't say sell the house and move into an apartment.

Also, the fuel crisis was a looming factor in our economy.

 

[rickn]

Originally posted by: conjur
Carter was talking about credit cards. He didn't say sell the house and move into an apartment.

Also, the fuel crisis was a looming factor in our economy.

Carter was no economist. When he told americans to put away their credit cards, everyone took this literally and people weren't buying ANYTHING. I mean the guy was a total idiot. He did more good outside of his presidency.