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How stupid can someone be?



 
 
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  #1  
Old May 18th 12, 05:26 PM posted to rec.photo.digital.slr-systems
Stefan Patric[_3_]
external usenet poster
 
Posts: 19
Default How stupid can someone be?

On Wed, 16 May 2012 15:17:28 +1000, Trevor wrote:

"Stefan Patric" wrote in message
...
And Clinton, who created the financial mess the world now finds
itself in.

Boy! Do you have a distorted view of history?


Not distorted at all.

The Clinton administration while not actually "creating" the world
recession is faulted with setting up the circumstances for it through
one of his "economic" programs. That program was to enable people who
couldn't really afford to buy a home, that is "lower income" workers,
to buy one through government credits, incentives and mortgage security
guarantees to lenders. Anyone with any common sense saw this as a bad
idea, but idealistic career politicians are not known for having common
sense. This started the "housing boom" in the US, and the rapid
appreciation of property values to the point where even those who had
no mortgages couldn't afford the property taxes on their free and clear
property. Property taxes are calculated on the market value of a home
and not its purchase price.


And has *nothing* to do with the amount charged since the "cents in the
dollar figure" is simply calculated on how much the government thinks
they need and can get away with. As house prices go up, the "cents in
the dollar" rate charged for taxes can, and should come down. Whether it
does or not is up to the greed of government OF THE DAY.


You need to brush up on how Property Taxes are calculated. Property
taxes are not the same as Personal Property taxes. Basically, in the US,
the formula is:

((Home's value * Assessment Rate) - Exemption Credit) * Property Tax Rate
= Property Tax

When the Market Value of a home increases, the tax increases. It can't
do otherwise unless the Assessment and Tax rates are LOWERED or the
Exemption INCREASED. All three of which require a time consuming
legislative process to change. And in some states in the US, a vote by
the people in a general election, too. Plus, the amount of change and
the maximum that can be charged are usually limited by law.




(Another bad government concept.) As the
housing market "busted" major investors who had gotten on the gravy
wagon for the big profits were jumping off, en masse, and in the
process brought down the US economy. And as the world economy is
joined at the hip with the US' . . .

So, yes, it was Clinton who "enabled" the fall. .



What a load of crap, it was the total lack of regulation of the banks
"sub prime" scams that mainly caused the global meltdown. In Australia
we had the same housing boom, which still exists, without our economy
collapsing, not yet anyway. And if it does it will only be because of
the global problems, mainly caused by US banking greed and it's total
lack of regulation, finally impacting our economy.


I'm not familiar with Australia's economy or its banking laws, so I can't
speak on that, but in the US, in hindsight analysis, it was determined
that a piece of legislation championed by then President Clinton was the
single pebble dropped into the sea that became the tidal wave which
devastated the US and, ultimately, the world's economies. This was
reported in newspapers, magazines, TV, etc., over and over (with extended
commentary) for weeks a few years ago at the height of the recession here.


As an aside: At what rate are housing prices currently appreciating in
Australia? In the US, during the boom, in the areas greatest affected,
home prices were increasing on average 25% to 33% per year. Middle class
homes were selling the same day they were listed (or the next), many for
cash, that is, no loan. I had a friend who bought a place (with a loan)
just as the boom was beginning and sold it about 4 years later, about a
year prior to the bust, for almost triple what he paid for it.


Stef
  #2  
Old May 19th 12, 06:19 AM posted to rec.photo.digital.slr-systems
Trevor[_2_]
external usenet poster
 
Posts: 874
Default How stupid can someone be?


"Stefan Patric" wrote in message
...
You need to brush up on how Property Taxes are calculated. Property
taxes are not the same as Personal Property taxes. Basically, in the US,
the formula is:

((Home's value * Assessment Rate) - Exemption Credit) * Property Tax Rate
= Property Tax

When the Market Value of a home increases, the tax increases. It can't
do otherwise unless the Assessment and Tax rates are LOWERED or the
Exemption INCREASED. All three of which require a time consuming
legislative process to change. And in some states in the US, a vote by
the people in a general election, too. Plus, the amount of change and
the maximum that can be charged are usually limited by law.



OK, over here they just make them up to suit the budget each year. Seems
your system sucks big time, so blame whoever made it law. Although ours is
no better when greedy governments can easily decide to increase rates by
multiples of the inflation rate every year, whether house prices go up OR
down :-(



I'm not familiar with Australia's economy or its banking laws, so I can't
speak on that, but in the US, in hindsight analysis, it was determined
that a piece of legislation championed by then President Clinton was the
single pebble dropped into the sea that became the tidal wave which
devastated the US and, ultimately, the world's economies. This was
reported in newspapers, magazines, TV, etc., over and over (with extended
commentary) for weeks a few years ago at the height of the recession here.



"Determined" by who? And what proof did they use to arrive at that
conclusion?
Don't believe everything you read in the right wing press! :-)


As an aside: At what rate are housing prices currently appreciating in
Australia?


They are actually fairly static, or falling slightly at the moment
(depending on location). The bubble has stopped growing, especially for land
prices, but hasn't burst like many other countries since there is still
demand, unemployment is low, and construction costs continue to increase,
meaning established dwellings haven't dropped too much except for those that
were *drastically* overpriced.


In the US, during the boom, in the areas greatest affected,
home prices were increasing on average 25% to 33% per year. Middle class
homes were selling the same day they were listed (or the next), many for
cash, that is, no loan. I had a friend who bought a place (with a loan)
just as the boom was beginning and sold it about 4 years later, about a
year prior to the bust, for almost triple what he paid for it.


Ours never went that high, but many doubled in that time, perhaps tripled
over about 10 or 12 years.

Trevor.


  #3  
Old May 19th 12, 07:46 PM posted to rec.photo.digital.slr-systems
PeterN
external usenet poster
 
Posts: 3,039
Default How stupid can someone be?

On 5/19/2012 1:19 AM, Trevor wrote:
"Stefan wrote in message
...
You need to brush up on how Property Taxes are calculated. Property
taxes are not the same as Personal Property taxes. Basically, in the US,
the formula is:

((Home's value * Assessment Rate) - Exemption Credit) * Property Tax Rate
= Property Tax

When the Market Value of a home increases, the tax increases. It can't
do otherwise unless the Assessment and Tax rates are LOWERED or the
Exemption INCREASED. All three of which require a time consuming
legislative process to change. And in some states in the US, a vote by
the people in a general election, too. Plus, the amount of change and
the maximum that can be charged are usually limited by law.



OK, over here they just make them up to suit the budget each year. Seems
your system sucks big time, so blame whoever made it law. Although ours is
no better when greedy governments can easily decide to increase rates by
multiples of the inflation rate every year, whether house prices go up OR
down :-(



I'm not familiar with Australia's economy or its banking laws, so I can't
speak on that, but in the US, in hindsight analysis, it was determined
that a piece of legislation championed by then President Clinton was the
single pebble dropped into the sea that became the tidal wave which
devastated the US and, ultimately, the world's economies. This was
reported in newspapers, magazines, TV, etc., over and over (with extended
commentary) for weeks a few years ago at the height of the recession here.



"Determined" by who? And what proof did they use to arrive at that
conclusion?
Don't believe everything you read in the right wing press! :-)


As an aside: At what rate are housing prices currently appreciating in
Australia?


They are actually fairly static, or falling slightly at the moment
(depending on location). The bubble has stopped growing, especially for land
prices, but hasn't burst like many other countries since there is still
demand, unemployment is low, and construction costs continue to increase,
meaning established dwellings haven't dropped too much except for those that
were *drastically* overpriced.


In the US, during the boom, in the areas greatest affected,
home prices were increasing on average 25% to 33% per year. Middle class
homes were selling the same day they were listed (or the next), many for
cash, that is, no loan. I had a friend who bought a place (with a loan)
just as the boom was beginning and sold it about 4 years later, about a
year prior to the bust, for almost triple what he paid for it.


Ours never went that high, but many doubled in that time, perhaps tripled
over about 10 or 12 years.

Trevor.

We have an easy to use system of appeals. No lawyer is needed. You may
appeal only the basic valuation of your property, or the mathmatics. In
the nY area the basic apeals are failry liberal.





--
Peter
  #4  
Old May 21st 12, 06:29 PM posted to rec.photo.digital.slr-systems
Stefan Patric[_3_]
external usenet poster
 
Posts: 19
Default How stupid can someone be?

On Sat, 19 May 2012 15:19:16 +1000, Trevor wrote:

"Stefan Patric" wrote in message
...
You need to brush up on how Property Taxes are calculated. Property
taxes are not the same as Personal Property taxes. Basically, in the
US, the formula is:

((Home's value * Assessment Rate) - Exemption Credit) * Property Tax
Rate = Property Tax

When the Market Value of a home increases, the tax increases. It can't
do otherwise unless the Assessment and Tax rates are LOWERED or the
Exemption INCREASED. All three of which require a time consuming
legislative process to change. And in some states in the US, a vote by
the people in a general election, too. Plus, the amount of change and
the maximum that can be charged are usually limited by law.



OK, over here they just make them up to suit the budget each year. Seems
your system sucks big time, so blame whoever made it law. Although ours
is no better when greedy governments can easily decide to increase rates
by multiples of the inflation rate every year, whether house prices go
up OR down :-(


Seems like your system is a lot worse than mine with bureaucrats setting
variables at will each year with little or no control. At least with
mine, variables and rates can't be changed easily or quickly, or without
legislative, and in some places the people's approval. However, the flaw
in the calculation is how the Home's Value is determined. One would
expect that replacement cost, that is, the cost of actually building that
home "today", is the best, but that method is costly. It requires actual
periodic appraisals. The most common method, however, and cheapest is
comparables or "comps." That is, your home's "value" is what other homes
similar to yours in your area have sold for that year. This method, as
it's not regulated, in a runaway market results in vastly inflated Home
Values, and thus vastly inflated tax bills even when the other variables
do not change. That's one of the things that busted the housing market
in the US.

I'm not familiar with Australia's economy or its banking laws, so I
can't speak on that, but in the US, in hindsight analysis, it was
determined that a piece of legislation championed by then President
Clinton was the single pebble dropped into the sea that became the
tidal wave which devastated the US and, ultimately, the world's
economies. This was reported in newspapers, magazines, TV, etc., over
and over (with extended commentary) for weeks a few years ago at the
height of the recession here.



"Determined" by who? And what proof did they use to arrive at that
conclusion?


Economists, financiers, financial analysts, think tanks, even government
investigators, etc. Certainly, not your average man on the street
opinions. As far as "proof," as in any financial/business investigation,
they started with the numbers, and followed the money.

Don't believe everything you read in the right wing press! :-)


The "press" here--TV, radio and print--is, by and large, very much left
leaning. Although, they deny it.;-) And even they reported it pretty
much as I stated. Had to or they would have lost credibility.

Stef
  #5  
Old May 21st 12, 07:07 PM posted to rec.photo.digital.slr-systems
Alan Browne
external usenet poster
 
Posts: 12,640
Default How stupid can someone be?

On 2012-05-21 13:29 , Stefan Patric wrote:
On Sat, 19 May 2012 15:19:16 +1000, Trevor wrote:

"Stefan Patric" wrote in message
...
You need to brush up on how Property Taxes are calculated. Property
taxes are not the same as Personal Property taxes. Basically, in the
US, the formula is:

((Home's value * Assessment Rate) - Exemption Credit) * Property Tax
Rate = Property Tax

When the Market Value of a home increases, the tax increases. It can't
do otherwise unless the Assessment and Tax rates are LOWERED or the
Exemption INCREASED. All three of which require a time consuming
legislative process to change. And in some states in the US, a vote by
the people in a general election, too. Plus, the amount of change and
the maximum that can be charged are usually limited by law.



OK, over here they just make them up to suit the budget each year. Seems
your system sucks big time, so blame whoever made it law. Although ours
is no better when greedy governments can easily decide to increase rates
by multiples of the inflation rate every year, whether house prices go
up OR down :-(


Seems like your system is a lot worse than mine with bureaucrats setting
variables at will each year with little or no control. At least with
mine, variables and rates can't be changed easily or quickly, or without
legislative, and in some places the people's approval. However, the flaw
in the calculation is how the Home's Value is determined. One would
expect that replacement cost, that is, the cost of actually building that
home "today", is the best, but that method is costly. It requires actual
periodic appraisals. The most common method, however, and cheapest is
comparables or "comps." That is, your home's "value" is what other homes
similar to yours in your area have sold for that year. This method, as
it's not regulated, in a runaway market results in vastly inflated Home
Values, and thus vastly inflated tax bills even when the other variables
do not change. That's one of the things that busted the housing market
in the US.

I'm not familiar with Australia's economy or its banking laws, so I
can't speak on that, but in the US, in hindsight analysis, it was
determined that a piece of legislation championed by then President
Clinton was the single pebble dropped into the sea that became the
tidal wave which devastated the US and, ultimately, the world's
economies. This was reported in newspapers, magazines, TV, etc., over
and over (with extended commentary) for weeks a few years ago at the
height of the recession here.



"Determined" by who? And what proof did they use to arrive at that
conclusion?


Economists, financiers, financial analysts, think tanks, even government
investigators, etc. Certainly, not your average man on the street
opinions. As far as "proof," as in any financial/business investigation,
they started with the numbers, and followed the money.

Don't believe everything you read in the right wing press! :-)


The "press" here--TV, radio and print--is, by and large, very much left
leaning. Although, they deny it.;-) And even they reported it pretty
much as I stated. Had to or they would have lost credibility.


BS. That was one element (highly supported by Republicans).

Time has a good list of "culprits" he

http://www.time.com/time/specials/pa...877351,00.html



--
"Civilization is the limitless multiplication of unnecessary necessities."
-Samuel Clemens.


  #6  
Old May 22nd 12, 05:03 AM posted to rec.photo.digital.slr-systems
Trevor[_2_]
external usenet poster
 
Posts: 874
Default How stupid can someone be?


"Stefan Patric" wrote in message
...
Seems like your system is a lot worse than mine with bureaucrats setting
variables at will each year with little or no control. At least with
mine, variables and rates can't be changed easily or quickly, or without
legislative, and in some places the people's approval. However, the flaw
in the calculation is how the Home's Value is determined. One would
expect that replacement cost, that is, the cost of actually building that
home "today", is the best, but that method is costly. It requires actual
periodic appraisals. The most common method, however, and cheapest is
comparables or "comps." That is, your home's "value" is what other homes
similar to yours in your area have sold for that year.


That is how our homes are valued too, but the "cents in the dollar rate"
then applied is simply derived by calculating how much money they want.


"Determined" by who? And what proof did they use to arrive at that
conclusion?


Economists, financiers, financial analysts, think tanks, even government
investigators, etc. Certainly, not your average man on the street
opinions. As far as "proof," as in any financial/business investigation,
they started with the numbers, and followed the money.


And they also start with an agenda, and select the data to suit.


Don't believe everything you read in the right wing press! :-)


The "press" here--TV, radio and print--is, by and large, very much left
leaning.



You haven't heard of FOX and our expat Rupert Murdoch then :-)


Although, they deny it.;-)


Dead right, Rupert would be caught dead being associated with the left,
unless he gets another $Billion or three! :-)

Trevor.


  #7  
Old May 23rd 12, 07:05 PM posted to rec.photo.digital.slr-systems
Stefan Patric[_3_]
external usenet poster
 
Posts: 19
Default How stupid can someone be?

On Tue, 22 May 2012 14:03:22 +1000, Trevor wrote:

[snip]

"Determined" by who? And what proof did they use to arrive at that
conclusion?


Economists, financiers, financial analysts, think tanks, even
government investigators, etc. Certainly, not your average man on the
street opinions. As far as "proof," as in any financial/business
investigation, they started with the numbers, and followed the money.


And they also start with an agenda, and select the data to suit.


If we're talking politicians and their respective parties, I agree.
That's why I take what they purport with a grain of salt.

What I do is take what is reported--facts, conclusions, opinions, etc.--
from many sources to arrive at a fairly unbiased, middle of the road
overview, then draw my own conclusions.


Don't believe everything you read in the right wing press! :-)


The "press" here--TV, radio and print--is, by and large, very much left
leaning.



You haven't heard of FOX and our expat Rupert Murdoch then :-)


Of course I have. I didn't say ALL the press are left leaning--some more
than others, just the majority. There are still plenty of sources for
news that hold balanced, neutral reporting in high esteem.

Stef
  #8  
Old May 23rd 12, 07:22 PM posted to rec.photo.digital.slr-systems
Stefan Patric[_3_]
external usenet poster
 
Posts: 19
Default How stupid can someone be?

On Mon, 21 May 2012 14:07:35 -0400, Alan Browne wrote:

On 2012-05-21 13:29 , Stefan Patric wrote:
On Sat, 19 May 2012 15:19:16 +1000, Trevor wrote:

"Stefan Patric" wrote in message
...
You need to brush up on how Property Taxes are calculated. Property
taxes are not the same as Personal Property taxes. Basically, in the
US, the formula is:

((Home's value * Assessment Rate) - Exemption Credit) * Property Tax
Rate = Property Tax

When the Market Value of a home increases, the tax increases. It
can't do otherwise unless the Assessment and Tax rates are LOWERED or
the Exemption INCREASED. All three of which require a time consuming
legislative process to change. And in some states in the US, a vote
by the people in a general election, too. Plus, the amount of change
and the maximum that can be charged are usually limited by law.


OK, over here they just make them up to suit the budget each year.
Seems your system sucks big time, so blame whoever made it law.
Although ours is no better when greedy governments can easily decide
to increase rates by multiples of the inflation rate every year,
whether house prices go up OR down :-(


Seems like your system is a lot worse than mine with bureaucrats
setting variables at will each year with little or no control. At
least with mine, variables and rates can't be changed easily or
quickly, or without legislative, and in some places the people's
approval. However, the flaw in the calculation is how the Home's Value
is determined. One would expect that replacement cost, that is, the
cost of actually building that home "today", is the best, but that
method is costly. It requires actual periodic appraisals. The most
common method, however, and cheapest is comparables or "comps." That
is, your home's "value" is what other homes similar to yours in your
area have sold for that year. This method, as it's not regulated, in a
runaway market results in vastly inflated Home Values, and thus vastly
inflated tax bills even when the other variables do not change. That's
one of the things that busted the housing market in the US.

I'm not familiar with Australia's economy or its banking laws, so I
can't speak on that, but in the US, in hindsight analysis, it was
determined that a piece of legislation championed by then President
Clinton was the single pebble dropped into the sea that became the
tidal wave which devastated the US and, ultimately, the world's
economies. This was reported in newspapers, magazines, TV, etc.,
over and over (with extended commentary) for weeks a few years ago at
the height of the recession here.


"Determined" by who? And what proof did they use to arrive at that
conclusion?


Economists, financiers, financial analysts, think tanks, even
government investigators, etc. Certainly, not your average man on the
street opinions. As far as "proof," as in any financial/business
investigation, they started with the numbers, and followed the money.

Don't believe everything you read in the right wing press! :-)


The "press" here--TV, radio and print--is, by and large, very much left
leaning. Although, they deny it.;-) And even they reported it pretty
much as I stated. Had to or they would have lost credibility.


BS. That was one element (highly supported by Republicans).


Doesn't mean it wasn't true.

Time has a good list of "culprits" he

http://www.time.com/time/specials/packages/

completelist/0,29569,1877351,00.html

In anything as large and as complex as a nation's (or the world's)
economy can there be ONE simple cause or person to blame for its
failure. However, there can be a catalyst that everything reacts to
setting up that failure. Read the "Bill Clinton" entry in link. In the
last recession (in the US) of the late '70s and early '80s, that catalyst
was the Arab Oil Embargo by the UAE. One little thing, and the dominoes
tumbled.

Stef
  #9  
Old May 23rd 12, 07:53 PM posted to rec.photo.digital.slr-systems
Savageduck[_3_]
external usenet poster
 
Posts: 16,487
Default How stupid can someone be?

On 2012-05-23 11:05:17 -0700, Stefan Patric said:

On Tue, 22 May 2012 14:03:22 +1000, Trevor wrote:


Le Snip



You haven't heard of FOX and our expat Rupert Murdoch then :-)


Of course I have. I didn't say ALL the press are left leaning--some more
than others, just the majority. There are still plenty of sources for
news that hold balanced, neutral reporting in high esteem.

Stef


That almost made me spew my beverage over most of my immediate work area.

You include Murdoch, his pit bull Roger Ailes, and FoxNews as a news
source that holds balanced and neutral reporting in high esteem?

Biased to the right yes. Balanced and neutral? They are as balanced and
neutral as any left leaning news source. You would be hard pressed to
demonstrate a balanced opinion anywhere in FoxNews reporting.
Just because they use the term in their slogan, does not make it so.

--
Regards,

Savageduck

  #10  
Old May 23rd 12, 09:51 PM posted to rec.photo.digital.slr-systems
Alan Browne
external usenet poster
 
Posts: 12,640
Default How stupid can someone be?

On 2012-05-23 14:22 , Stefan Patric wrote:
On Mon, 21 May 2012 14:07:35 -0400, Alan Browne wrote:

On 2012-05-21 13:29 , Stefan Patric wrote:
On Sat, 19 May 2012 15:19:16 +1000, Trevor wrote:

"Stefan Patric" wrote in message
...
You need to brush up on how Property Taxes are calculated. Property
taxes are not the same as Personal Property taxes. Basically, in the
US, the formula is:

((Home's value * Assessment Rate) - Exemption Credit) * Property Tax
Rate = Property Tax

When the Market Value of a home increases, the tax increases. It
can't do otherwise unless the Assessment and Tax rates are LOWERED or
the Exemption INCREASED. All three of which require a time consuming
legislative process to change. And in some states in the US, a vote
by the people in a general election, too. Plus, the amount of change
and the maximum that can be charged are usually limited by law.


OK, over here they just make them up to suit the budget each year.
Seems your system sucks big time, so blame whoever made it law.
Although ours is no better when greedy governments can easily decide
to increase rates by multiples of the inflation rate every year,
whether house prices go up OR down :-(

Seems like your system is a lot worse than mine with bureaucrats
setting variables at will each year with little or no control. At
least with mine, variables and rates can't be changed easily or
quickly, or without legislative, and in some places the people's
approval. However, the flaw in the calculation is how the Home's Value
is determined. One would expect that replacement cost, that is, the
cost of actually building that home "today", is the best, but that
method is costly. It requires actual periodic appraisals. The most
common method, however, and cheapest is comparables or "comps." That
is, your home's "value" is what other homes similar to yours in your
area have sold for that year. This method, as it's not regulated, in a
runaway market results in vastly inflated Home Values, and thus vastly
inflated tax bills even when the other variables do not change. That's
one of the things that busted the housing market in the US.

I'm not familiar with Australia's economy or its banking laws, so I
can't speak on that, but in the US, in hindsight analysis, it was
determined that a piece of legislation championed by then President
Clinton was the single pebble dropped into the sea that became the
tidal wave which devastated the US and, ultimately, the world's
economies. This was reported in newspapers, magazines, TV, etc.,
over and over (with extended commentary) for weeks a few years ago at
the height of the recession here.


"Determined" by who? And what proof did they use to arrive at that
conclusion?

Economists, financiers, financial analysts, think tanks, even
government investigators, etc. Certainly, not your average man on the
street opinions. As far as "proof," as in any financial/business
investigation, they started with the numbers, and followed the money.

Don't believe everything you read in the right wing press! :-)

The "press" here--TV, radio and print--is, by and large, very much left
leaning. Although, they deny it.;-) And even they reported it pretty
much as I stated. Had to or they would have lost credibility.


BS. That was one element (highly supported by Republicans).


Doesn't mean it wasn't true.


Doesn't mean a lot of things didn't contribute. What is inane about
this thread (where it's ended up) is the polarized (and uninformed)
finger pointing - why I posted the Time list below. (In another post,
originally - but the truth is inconvenient).


Time has a good list of "culprits" he

http://www.time.com/time/specials/packages/

completelist/0,29569,1877351,00.html

In anything as large and as complex as a nation's (or the world's)
economy can there be ONE simple cause or person to blame for its
failure. However, there can be a catalyst that everything reacts to
setting up that failure. Read the "Bill Clinton" entry in link. In the
last recession (in the US) of the late '70s and early '80s, that catalyst
was the Arab Oil Embargo by the UAE. One little thing, and the dominoes
tumbled.


By your logic the fall of Adam and Eve is the catalyst.

It is collective.

But what is worse is the negligence of Bush (Jr.) & Reps in not stopping
the runaway mortgage morass which was obvious as early as 2003
(Greenspan did not help - his statements were 'enabling' when he should
have used the "irrational exuberance" line again), and in starting a
massive $2 - $3T war _without_ raising taxes (as that was politically
un-viable - Bush Jr's greatest fear was losing a 2nd term and remembered
his father losing his 2nd term as a result of raising taxes).

And referring to the Oil Embargo that you mention - what did US
politicians do with respect to energy policy once things settled down?
Nothing.

Instead the CAFE rules were allowed to stagnate with the result that
technology advances resulted in increasing horsepower (and vehicle size
and weight) rather than reducing consumption for a given horsepower.

In the US Wall Street, big-oil, coal, agriculture and the auto industry
have huge sway over policy to the detriment the greater good.

--
"Civilization is the limitless multiplication of unnecessary necessities."
-Samuel Clemens.
 




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