Boomers chillingly refer to the Carter Administration (’77 - ’81) as the 20-20-20 years.
20% unemployment. 20% interest rate. 20% inflation.
It was the time of mullets, bell-bottom jeans, big hair, product shortages and lines at gas stations. Like me, ageing politicians and grey-haired bankers still carry the emotional scars of that era and it’s why we’re alarmed at what we’re seeing happening now in our economy.