Burton Abrams

It was probably a newscast that talked about the Nixon tapes. And I said, this is what I've been waiting for.

It was probably a newscast that talked about the Nixon tapes. And I said, this is what I've been waiting for.

It was probably a newscast that talked about the Nixon tapes. And I said, this is what I've been waiting for.

Well, everyone else was interested in Watergate. I was interested in monetary policy.

Well, everyone else was interested in Watergate. I was interested in monetary policy.

Well, everyone else was interested in Watergate. I was interested in monetary policy.

Arthur Burns had a reputation of being an extremely cautious monetary economist who had written a book called Prosperity Without Inflation.

Arthur Burns had a reputation of being an extremely cautious monetary economist who had written a book called Prosperity Without Inflation.

Arthur Burns had a reputation of being an extremely cautious monetary economist who had written a book called Prosperity Without Inflation.

And all of a sudden, we get the worst decade of inflation probably in U.S. history. And the question I had was, why did he do that? Why did he abandon his prosperity without inflation ideas? And did Nixon play a role in that?

And all of a sudden, we get the worst decade of inflation probably in U.S. history. And the question I had was, why did he do that? Why did he abandon his prosperity without inflation ideas? And did Nixon play a role in that?

And all of a sudden, we get the worst decade of inflation probably in U.S. history. And the question I had was, why did he do that? Why did he abandon his prosperity without inflation ideas? And did Nixon play a role in that?

So I almost immediately headed down to Washington, D.C. from Delaware. Like immediately? Yes.

So I almost immediately headed down to Washington, D.C. from Delaware. Like immediately? Yes.

So I almost immediately headed down to Washington, D.C. from Delaware. Like immediately? Yes.

The economy needs to be rolling. Yeah, you had it.

The economy needs to be rolling. Yeah, you had it.

The economy needs to be rolling. Yeah, you had it.

You have to have white hair, spectacles, and a pipe. Apparently, Burns would use the pipe to emphasize statements that he was making. Oh, how does that work? When he was asked a question, he would take time to restuff the pipe, make it more dramatic before he spoke. So that's a good trick.

You have to have white hair, spectacles, and a pipe. Apparently, Burns would use the pipe to emphasize statements that he was making. Oh, how does that work? When he was asked a question, he would take time to restuff the pipe, make it more dramatic before he spoke. So that's a good trick.