> the way we were was that inflation was at more than 12%. Get Live News Updates Every Minute from vimarsana.com Curated from 23000 News Agencies.">
> the way we were was that inflation was at more than 12%. Get Live News Updates Every Minute from vimarsana.com Curated from 23000 News Agencies." property="og:description">
> the way we were was that inflation was at more than 12%. Get Live News Updates Every Minute from vimarsana.com Curated from 23000 News Agencies.">
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how do i know she was wrong? she said so to wolf blitzer. >> was it a mistake, madam secretary, to down play this inflation risk? did that contribute to the problems we're all seeing right now? >> well, look, i think i was wrong then about the path that inflation would take. >> the basic idea, people were being given money but there were not enough goods for various reasons, including factory shutdown abroad. and that made the prices of those goods go up, hence inflation. and we have been here before. take a trip with me back to the future. the year is 1974, the year that nixon resigned. the number one song was barbra streisand's "the way we were." ♪ ♪ like the corners of my mind ♪ >> the way we were was that inflation was at more than 12%.