6 Comments
User's avatar
Binder's avatar

'Under President Nixon, the Economic Stabilization Act of 1970 set up a "Cost of Living Council" responsible for wage & price controls. The first director of this agency was none other than Donald Rumsfeld, and his Assistant Director for Operations was Dick Cheney. The council was established in October 1971 and abolished in April 1974.'

Now that is an odd and interesting piece of history I did not know.

Expand full comment
Rudy Havenstein's avatar

Insana's a goofball.

Expand full comment
Teddy21btc's avatar

I don't think I could get through the craziness without laughter. Thanks for continuing the financial funnies, post Twitter.

Expand full comment
Not An Idiot's avatar

Your comments about “the past 40 years” and “if you haven’t made money in the bond market since the 1980’s, you’re a moron” bring up a good point. These money managers who lived thru this time think the abnormal is normal (Fed put, but the dip). The coming turmoil is going to completely undo them, financially, mentally, spiritually.

Expand full comment
Rudy Havenstein's avatar

Like a realtor who started in 2012

Expand full comment