In the early '80s Paul Volcker stopped the prolonged double digit inflation that was plaguing the country by choking down the money supply and letting interest rates rise dramatically.
Know anything about Dave Ramsey?
Jan 01, 2011
27 Replies
To the extent that there's a profile which indicates some deeply seated psychological issues (e.g. the gal with not a dime in savings who, at
50, continues to add to her shoe collection) it may very well be an unchangeable trait. In which case, I suppose the rest of the discussion is pointless. Whether to pay one's debt one way or another means little when the person targeted isn't likely to take any advice regardless of source.
The change in the money supply was both temporary and barely noticeable - see
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It depends on what you mean by "barely noticible". The increase in interest rates was substantial and so was the recession that resulted.
Well, it's like being an alcoholic. The first step is to accept that you have a problem. Dave's program caters to those who finally admit that they have a problem, and he offers a solution.
I should have said the *reduction* in the money supply was barely noticeable - per the chart I linked to.
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is good.
-- Ron
If your question is, "Can you change yourself?" I'd say, "Yes," based on personal experience. If your question is, "Can you change someone else?" well, that could be a lot harder.
-Will
will dot trice at comcast dot net
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