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| A Presidential decision. Earl Butz told me, he was dead set against it but the folks were in a state of panic by inflation & had Nixon's ear, plus there was a huge outcry from livestock groups; an grain exporter executive had just joined the Ford whitehouse & also advised against the Ford embargo..except the sales of ag products to the USSR were not popular within the Defense group & trading deals with the USSR were not commonly popular & the inflation worriers were part of it; I met John Connally & his son at O'Hare about two hours after the Carter Embargo was announced & he indicated Washington power players were absolutely furious at Carter. I think, dependent upon who is in the White House, the people of influence at this moment are 'free traders." Most Presidents lack a working knowledge of agriculture with the exception of Carter & hopefully Bush. | |
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Embargo comment.
