redblueamerica.com

When Paul Volcker stepped up to the plate in the late '70s, he had guts. Oil prices were high then, too. So was gold. And the dollar was in deep trouble. Inflation ran as high as 13.5%. Volker, as the new chief of the Fed, roped in the money supply and cranked up interest rates, blowing a decade of monetary mismanagement out America's tailpipe.