daughter to summarize various

I'm writing for my daughter to summarize various economic events. Others won't have to read it. And after listening to me, I found a habit of closing things like an American newspaper article without realizing it. It's not going to change because it's a habit. It's a reading that I learned...

Nixon's fault was that he tapped the Democratic Party's election headquarters for re-election, but economically, he placed Arthur Burns, his butler and servant, as the FED chairman and violated the Fed's independence. Nixon committed the mistake of making Burns release money for re-election in 72 years, let alone fiscal tightening, despite the severe inflation caused by the Vietnam War during the previous administration. Nixon was fortunate to be re-elected because of the short-term effects of the election, but in his second term, he disappeared, leaving only homework for the oil shock in 73 and water gate in 74 before fiscal tightening.

The core inflation index was created to address soaring prices during the Nixon era. Although the oil shock was a trick that people wanted to exclude oil prices from the index, it is ironic that the index has become an indicator that allows them to remain cool-headed. Jimmy Carter made the mistake of not replacing Burns. Burns was ousted as FED chairman in 1978, followed by Miller.

After that, the second oil shock caused by stagflation and the Iranian crisis added inflation to the United States. When Miller also opposed austerity, the famous Paul Volker appeared in 1979 and raised interest rates to 20% to calm inflation for now. However, before the 1980 presidential election, when Carter's request lowered the interest rate to 17%, inflation arose again and Reagan became president. Paul Volker's persistence set inflation for 81 years, and Reagan is still loved by the American people as a president who made America great despite the failure of Reaganomics, a neoliberal policy. Trump's MAGA revival of Reagan's slogan...

Carter's funeral was investigated by the son of Ford, his presidential rival and friend. The U.S. funeral investigation is always full of humor and wit, but sadness is in it. Thinking about the Carter era, I summarized the situation of Burns and Nixon, and even Paul Volker. When the AI era began, we coincidentally faced the worst president. He will also be impeached, but it would be no exaggeration to say that cancer cells are now growing in Korea's economy beyond suffering from bone disease. The exchange rate also exceeds 1,470 won, threatening 1,500 won. Inflation caused by this will be inevitable. We need to clean up and fix the confusion quickly. The current situation where time passes but no progress is really good.