Memories
- Donald R. McClarey
Donald R. McClarey
Cradle Catholic. Active in the pro-life movement since 1973. Father of three, one in Heaven, and happily married for 43 years. Small town lawyer and amateur historian. Former president of the board of directors of the local crisis pregnancy center for a decade.
He did that! What a guy.
Oh the misery the party of death deals out. They have rightly earned their moniker.
From the inception of the Federal Reserve to the present day, the most catastrophically bad board was presided over by one Eugene Meyer, founding patriarch of the family which owned The Washington Post from 1933 to 2014. Standing their passively while 40% of the banks in the United States go bust and the money supply implodes secures the crown for poor performance for several generations at least. Place and Show have to date been occupied by Arthur Burns and William Miller, who gave you the 1970s inflation (it began earlier under the accomplished William Martin, but it’s been known for decades that Lyndon Johnson bullied Martin into a loose monetary policy Martin did not want). Jerome Powell and his confederates have been working to take the 2d place away from Burns. It took the Martin and Burns boards nearly 8 years to generate a month-over-month increase in the price level exceeding 1% and Jerome Powell got the job done in four years.