Changes

The rapid change in interest rates sowed the seeds of the Savings and Loan crisis (See [[Madison Guaranty Savings]]). Investments in fixed income were becoming less valuable. Holders of both bonds, and pensions being paid to retired people had their life savings wiped out. The stagnant growth of the economy (causing unemployment), in combination with a high rate of inflation, has often been called stagflation, an unprecedented situation in American economics. By 1979, public opinion polls had Carter's popularity lower than [[Richard Nixon]]'s during Watergate.  Carter instructed the Federal Reserve printing presses to go pedal-to-the-metal, worsening inflationary effects, in a failed effort to stage a short-lived election year recovery and delaying a double-dip [[recession]] until after Inauguration Day, 1981.

The rapid change in interest rates sowed the seeds of the Savings and Loan crisis (See [[Madison Guaranty Savings]]). Investments in fixed income were becoming less valuable. Holders of both bonds, and pensions being paid to retired people had their life savings wiped out. The stagnant growth of the economy (causing unemployment), in combination with a high rate of inflation, has often been called stagflation, an unprecedented situation in American economics. By 1979, public opinion polls had Carter's popularity lower than [[Richard Nixon]]'s during Watergate.  Carter instructed the Federal Reserve printing presses to go pedal-to-the-metal, worsening inflationary effects, in a failed effort to stage a short-lived election year recovery and delaying a double-dip [[recession]] until after Inauguration Day, 1981.

=== Energy Crisis ===

=== Energy Crisis ===