The global economy was in very rough shape in 1980. Caught in the spiral of the Great Inflation, there was practically nowhere to hide from ripping upheaval – beyond just the economic problems. Despite trying seemingly everything for an entire decade, nothing Economists came up with would rebalance the system. They kept saying they only needed time for their schemes to work. By the summer of ’80 no one outside the ideology was left to believe them. Even Congress in rare bipartisan fashion denounced “demand side” Economics for leading the country into chaos. The US economy finally broke. After sustained waves of ... (full story)