Recession

Jimmy Carter's passing is in the news and it reminds people of the economy at the time he was president. In the 2008 recession caused by the mortgage crisis the news often reported this as the greatest recession since the great depression. Not even close. The recession of 1980 caused interest rates to rise to 21.5% and inflation was 13% will unemployment rose to 10%. In 2008 unemployment rose to 10% but inflation was less than 3% and interest rates peaked at 5%. Most people do not remember much about the stagflation, as it was called, of the late 1970's and early 80's. On an interesting side note, I lived in the south and there you can be called Jimmy or James but never Jim unless accompanied with another name such as Jim Bob