Nominally in terms of the difference between inflation, which was 17 or 18 percent, and interest rates which were 21 percent, a 3.5-point discrepancy. In point of fact, in the 1980's real interest rates, which is really what the gentleman is worried about because it is the difference between what our money depreciates at and what we have to pay it back at, were higher in the 1980's than they were in the 1970's.
Discussing economic conditions related to inflation and interest rates.
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