Frankly, neither do I but I'm a bit more circumspect when it comes to deciding whether the errata is intentional - (thus sinister) or the result of flawed analytical methodology, flawed data sampling, over-casual data compilation, all three.... OR - our economy is simply too complex and nuanced to lend itself to such statistical witchcraft based on our existing level of understanding - kinda like the "Butterfly Theory" in weather forecasting or "Global Warming" in Politics or Science or Hollywood Activism - take your pick.
OK I'm playing with "causes" just a bit but I will say the stated inflation rate in the closing year of the Carter Administration simply HAD to be lowballed at 13%.
On the other hand, instant Voelcker replaced Burns at FED, rates ran from low teens right on up to 20% (Prime, Discount, Repo, Reverse Repo, I won't split hairs over it 'cuz I'm shooting off my mouth strictly from memory - sorry - but the point will become clear in mere seconds.
.... we ALL survived, had a Hellova time financing all the luxury goods we wanted as newly-minted Gold Traders - so we waited till next month and paid cash. We were very lucky to be doing what we were - but as God is my witness, though the wails were loud and long - nobody seemed to have had their lives ruined as so many seem to fear now.
One caveat needs to be pointed out - and that is that nobody who was anybody (even me) had to contend with floating rate debt because nobody had as yet begun offering it at retail.
OK - soap-box closed with contrite apologies - but that's been eating at me for awhile now and I don't mind admitting I feel better already....
