. >> maybe i should have said rattner was in a '75 eastman kodak office.ng. but let's talk about how the parallels -- a lot of politicians alive today, working today, don't remember the combination of high inflation, high crime, a cold war. man, it was devastating on a lot of politicians. gerald ford lost, of course, in '76. jimmy carter lost in 1980. very turbulent times then. very turbulent times politically now. >> i'm like you, joe, i remember buying my first house with a 12% interest rate. it was a terrifying period. but i think that there's some significant differences that are worth noting. the first is that the federal reserve under jay powell finally seems to get it. the determination when inflation is at 7%, 8%, to stop it and bring it back before it gets in the double digits is really important. there's going to be some pain in the short run, but the thing that would be frightening and would remind me of the '70s is this kind of continuing, seemingly unstoppable wage push inflation. that's one difference. the second thing is that back in the '70