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I don't think much in here will surprise you, but I think it might be worth drawing attention to the analogy at the end: Harry Truman
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As inflation has gone up, there's been a lot of focus on the 70s. But 1946 may be the interesting comparison. Inflation soared--higher than the 70s--as pent-up consumer demand was unleashed with the end of the war economy. Labor unrest swept the country.
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Harry Truman seemed totally in over his head. It didn't seem like he could do anything to get control of the situation. The GOP crushed the Democrats in the midterms, retaking control of Congress for the first time since the depression
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In the end, the unrest of 45-47 was a prelude to post-war prosperity. We think of the 50s as the epitome of 'normalcy.' Truman won reelection and retook congress in '48 IDK if that's how the story ends this time, ofc, but I think it's reminiscent of what Biden faces today
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And oddly enough, Biden's a bit of a Truman fan. His bust is in the oval office. He evoked 'buck stops here' during Afghanistan. Clyburn invoked Truman (who had a real civil rights record), not FDR, as the real Biden comparison. Maybe it will be.https://www.politico.com/newsletters/transition-playbook/2021/04/13/clyburn-doesnt-want-biden-to-be-like-fdr-492463 …
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Every American politician since Truman who finds himself under 50% in the polls has been a big Truman fan.
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