I remember it well there podner. But it was an animal of a different color. Some goofball in charge of the Fed had decided that higher interest rates promoted nearly full employment, so he kept intererst rates high and collapsed the economy. It took a couple of years to undo the wrong that goofball artificially created. What the hell was his name, anyway?You'd remember the early 1970s Neubarth - stagflation - that was a tough time.
volker wasn't it, who later served in regan's cabinet.