If you glanced quickly at the photo above you probably assumed it was President Biden, particularly if you have relatives or friends who lean toward the right. Similar images of President Brandon or Prime Minister Justinflation are ubiquitous, contagious among conservatives and spread quickly over the Internet.
The image is of President Carter and it is displayed in the right-wing publication, American Opinion found in the June 1980 issue. An accompanying caption indicates that:
"No President who has boosted inflation over the 18 percent mark; allowed prime interest rates to reach 20 percent; doubled federal taxation; reduced productivity to minus figures; allowed the halving of our savings; and shrunk the value of the dollar as if it was a prune, deserves another chance to do worse."
I suppose it is always the case that those who are not in power, blame those who are. The difference now is that the blame, deserved or not, can be spread more quickly and virulently.
The Bonus:
This actually is more of a warning. If you recently took on a large mortgage or are deeply in debt, but think that surely interest rates will never get to 5%, look at the one above. It is 20% and the Bank of Canada's key interest rate reached 21.2% in 1981.
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