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lucky in other words

2025-01-25
As we float in the trough following the first wave of inflation, bracing for the next, it seems an excellent time to review a few alternative inflation hedges. Today we’ll examine the benefits of owning firearms, farmland, and fixed-rate mortgages during inflationary periods. Let’s get started. Inflation Hedge No. 1: Firearms I’ve honed my “firearms as a hedge” pitch to perfection. I’ve found that it works fairly well on skeptical wives when one needs to justify certain purchases. But it’s also real. High-quality firearms tend to hold their value remarkably over time. As long as they are properly stored and maintained, firearms tend to keep pace with inflation. Source: The Armory Life The drool-inducing ad above, from 1965, offered surplus US M1 carbines for just $59.95. Today, similar weapons in great condition can cost upwards of $4,000. Despite this impressive example, firearms shouldn’t be classified as investments per se. Over time they will almost certainly be outperformed by quality stocks. But they shouldn’t lose much, if any value either. Plus, there are intangible benefits to owning firearms. First, shooting and collecting guns is an enjoyable hobby. They also provide excellent personal defense value and peace of mind. Firearms can be viewed as inflation-resistant assets with additional benefits. A sort of insurance policy that holds its value extremely well. The bottom line: if you ever truly need them, firearms will provide a world-beating ROI. Inflation Hedge No. 2: Farmland The National Council of Real Estate Investment Fiduciaries (NCREIF) publishes fascinating data on farmland investment returns. Here’s one chart from a recent report. Source: NCREIF The chart shows annual returns from 2000 through Q3 of 2023. They break down the returns into income and land appreciation. It’s a fascinating report, and I recommend taking a look if this area interests you. Annual returns on farmland can range from 3-20% annually. On average the income tends to be steady at around 4-5% a year. Still, real estate value appreciation is where you can make major returns during inflationary periods (as shown in the chart above by the dotted line). Of course, you could just buy a farm. But that is far from a passive investment. Fortunately, there are also several publicly traded farmland investments. One that looks interesting is Farmland Partners Inc. (NYSE: FPI) . It’s a REIT that owns farms and makes loans to farmers ( note: I don’t own FPI and haven’t done diligence on it – just using it as an example ). Inflation Hedge No. 3: Fixed-Rate Mortgages Everybody knows real estate makes a great inflation hedge. But one of the primary reasons why is the way in which mortgage loans are structured and treated for tax purposes (in the US at least). A fixed-rate mortgage is an excellent inflation hedge. Anyone with a low-interest loan on residential real estate is set to benefit massively when inflation rears its ugly head again. Needless to say, you need to be able to service the payments comfortably. Getting over-leveraged in the real estate market is a risky endeavor indeed. As we learned in 2007, prices do crash every so often. But responsible use of cheap debt in inflationary times is almost a cheat code. And when you add in the benefit of writing off interest expenses, it’s no wonder that mortgages are so popular. So if you’re thinking about paying off a house with a low-rate mortgage, there are probably better investment options (gold and silver, for example). Unfortunately, this really only applies to existing low-rate loans. In today’s environment, with high prices and 7%+ mortgage rates, the math doesn’t work so well going forward. However, if the Fed is forced to start buying mortgage bonds again in the future, we could see another opportunity to lock in cheap debt and refinance. That would be quite the opportunity if we get it. I’ll keep an eye out.Dell Technologies Inc. and HP Inc. reported quarterly financial results that suggest a long-awaited recovery of the personal computer market is stalling. The shares of each company dropped in extended trading. NSE Revenue generated by Dell’s PC business declined 1% to $12.1 billion in the fiscal third quarter, falling short of estimates. While sales in HP’s PC unit rose 2% to $9.59 billion in the similar three-month period, that too missed the average analyst estimate. “The PC refresh cycle is pushing into next year,” Dell Chief Financial Officer Yvonne McGill said Tuesday on a call with analysts after the results. HP Chief Executive Officer Enrique Lores said in an interview that the release of Microsoft Corp.’s new edition of Windows software hasn’t fueled PC sales from corporate clients as quickly as in previous releases. The market had seen a historic decline in recent years after a burst of demand for new laptops in the early months of the pandemic when students and corporate employees were stuck at home. While signs of a rebound began to materialize this year, shipments again dipped in the third quarter, industry analyst IDC said in October. PC makers had hoped that new machines touted as better for artificial intelligence workloads would spur demand. But “buyers have yet to see clear benefits or business value,” Mikako Kitagawa, an analyst at Gartner Inc., said in report last month. Dell shares fell about 10% in late trading after closing at $141.74 in New York. The stock had gained 85% this year through Tuesday’s close. HP shares declined about 8% after closing at $39.10. HP stock had increased 30% this year. Dell is best known for its computer business, but the Round Rock, Texas-based company has enjoyed a renaissance of investor interest due to its high-powered servers for artificial intelligence workloads. Earlier this month, Dell announced it was shipping servers with Nvidia Corp.’s new Blackwell semiconductors to cloud infrastructure provider CoreWeave. Sales in Dell’s infrastructure unit including servers rose 34% to $11.4 billion in the period ended November 1, the company said in a statement. That’s just ahead of the $11.3 billion anticipated by analysts. Total revenue increased 10% to $24.4 billion, missing the average analyst estimate of $24.6 billion, according to data compiled by Bloomberg. The company shipped $2.9 billion in AI-optimized servers in the quarter, executives said. The metric was a step down from the $3.1 billion reported in the preceding period. “AI is a robust opportunity for us with no signs of slowing down,” Dell Chief Operating Officer Jeff Clarke said in the statement. He touted orders of AI servers in the quarter hitting $3.6 billion and growth “across all customer types.” For the quarter ending in February, Dell gave a revenue outlook of about $24.5 billion. Analysts, on average, projected $25.4 billion. Adjusted earnings will be $2.40 a share to $2.60, compared with the average estimate of $2.66. HP’s outlook also failed to impress. Earnings, excluding some items, will be 70 cents to 76 cents a share in the period ending in January, the Palo Alto, California-based company said. Analysts, on average, projected 86 cents. “Weaker-than-expected Personal Systems sales and profit were the biggest drag on HP’s fiscal 4Q results, and its below-consensus 1Q EPS guidance suggests little improvement in PC demand in the seasonally stronger December quarter,” Woo Jin Ho, an analyst at Bloomberg Intelligence, said in a note after the results.lucky in other words

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Parts of west already flooded, situation expected to worsenEaster Sunday is four months away, falling on April 20 in 2025 but some supermarkets already have seasonal stock out on their shelves. Chocolate eggs and hot cross buns have already been spotted for sale in shops including Morrisons, Tesco and Asda. As reported by , Gary Evans, 66, from Margate, shared a picture of Creme Eggs on display at his local Morrisons on Boxing Day. I’m a very liberal person but seeing Morrisons selling eggs right after is where I draw the line 🥲 "I just think it's crazy that everything is so superficial and meaninglessly commercial... [there's] something quite frantic about it," he said. Meanwhile, Joseph Robinson, saw themed Kit-Kat and Kinder Surprise products at his local Morrisons in Stoke-on-Trent on Friday evening (December 27). He said: "It's funny as they've not even managed to shift the Christmas chocolates off the shelves yet and they're already stocking for Easter. "I wish that supermarkets weren't so blatantly consumerist-driven and would actually allow customers and staff a time to decompress during the Christmas period." On X (formerly known as Twitter) user @Jingle1991 shared an image of Malteser Bunnies in Sainsbury's on Christmas Eve and pointed out: "Easter chocolate already out. Jesus hasn’t even been born yet". Another added: "I’m a very liberal person but seeing Morrisons selling #Easter eggs right after #Christmas is where I draw the line". In an alternative view, marketing consultant Andrew Wallis, 54, admitted he was surprised to see Easter eggs in the Co-op in Kilgetty, Pembrokeshire. However, he added it also illustrates "forward-thinking" from big businesses. He explained: "It made me reflect on how big brands are always thinking ahead and planning early. "My message to retailers would be: while planning ahead is important, it's also essential to be mindful of consumer sentiment. "Some might feel it's too early for seasonal products like this but others might see it as a sign of forward-thinking. Striking the right balance is key to keeping customers happy."

AP Business SummaryBrief at 5:58 p.m. ESTWatch: Trailer for MrBeast’s Squid Game-inspired game showBBC Radio 5 Live’s Leon Osman and Ian Dennis discuss Arsenal’s performance in their 5-1 win over Sporting in the Champions League. READ MORE: 'Where we belong' - Saka stars as Arsenal thrash Sporting

Jimmy Carter had the longest post-presidency of anyone to hold the office, and one of the most active. Here is a look back at his life. 1924 — Jimmy Carter was born on Oct. 1 to Earl and Lillian Carter in the small town of Plains, Georgia. 1928 — Earl Carter bought a 350-acre farm 3 miles from Plains in the tiny community of Archery. The Carter family lived in a house on the farm without running water or electricity. 1941 — He graduated from Plains High School and enrolled at Georgia Southwestern College in Americus. 1942 — He transferred to Georgia Institute of Technology in Atlanta. 1943 — Carter’s boyhood dream of being in the Navy becomes a reality as he is appointed to the U.S. Naval Academy in Annapolis, Maryland. 1946 — He received his naval commission and on July 7 married Rosalynn Smith of Plains. They moved to Norfolk, Virginia. 1946-1952 — Carter’s three sons are born, Jack in 1947, Chip in 1950 and Jeff in 1952. 1962-66 — Carter is elected to the Georgia State Senate and serves two terms. 1953 — Carter’s father died and he cut his naval career short to save the family farm. Due to a limited income, Jimmy, Rosalynn and their three sons moved into Public Housing Apartment 9A in Plains. 1966 — He ran for governor, but lost. 1967 — Jimmy and Rosalynn Carter’s fourth child, Amy, is born. 1971 — He ran for governor again and won the election, becoming Georgia’s 76th governor on Jan. 12. 1974 — Carter announced his candidacy for president. 1976 — Carter was elected 39th president on Nov. 2, narrowly defeating incumbent Gerald Ford. 1978 — U.S. and the Peoples’ Republic of China establish full diplomatic relations. President Carter negotiates and mediates an accord between Egypt and Israel at Camp David. 1979 — The Department of Education is formed. Iranian radicals overrun the U.S. Embassy and seize American hostages. The Strategic Arms Limitations Treaty is signed. 1980 — On March 21, Carter announces that the U.S. will boycott the Olympic Games scheduled in Moscow. A rescue attempt to get American hostages out of Iran is unsuccessful. Carter was defeated in his bid for a second term as president by Ronald Reagan in November. 1981 — President Carter continues to negotiate the release of the American hostages in Iran. Minutes before his term as president is over, the hostages are released. 1982 — Carter became a distinguished professor at Emory University in Atlanta, and founded The Carter Center. The nonpartisan and nonprofit center addresses national and international issues of public policy. 1984 — Jimmy and Rosalynn Carter volunteer one week a year for Habitat for Humanity, a nonprofit organization that helps needy people in the United States and in other countries renovate and build homes, until 2020. He also taught Sunday school in the Maranatha Baptist Church of Plains from the mid-’80s until 2020. 2002 — Awarded the Nobel Peace Prize. 2015 — Carter announced in August he had been diagnosed with melanoma that spread to his brain. 2016 — He said in March that he no longer needed cancer treatment. 2024 — Carter dies at 100 years old. Sources: Cartercenter.org, Plains Historical Preservation Trust, The Associated Press; The Brookings Institution; U.S. Navy; WhiteHouse.gov, GallupWestinghouse and CORE POWER partner for floating nuclear power plants

45 years ago, a Virginia Beach woman was killed. Her family is still waiting for answers.The deceased was identified as Blessed Asukwo, officials said. An autopsy done Friday revealed he drowned, and his death was ruled an accident, according to the coroner's office. His body was discovered Thursday morning after more than 14 hours of searching, officials have said. Police and fire officials were first called out around 5:47 p.m. Wednesday and a water search was initiated. The driver was not immediately located. Officials from the Indiana Department of Natural Resources returned to the scene the next morning and located the body using sonar technology. The circumstances that caused the car to become submerged in the waterway are unknown. Anyone with information regarding this incident is encouraged to contact the Dyer Police Department at 219-865-1163.

OG Maco, the Atlanta rapper best known for his 2014 viral hit "U Guessed It," tragically passed away at the age of 32 in a Los Angeles hospital. As reported by TMZ Hip Hop, Maco had been hospitalized since December 12 after sustaining a gunshot wound to the head. Although doctors tried to maintain his stability and remove toxins from his body, his condition worsened and he died as a result of his injuries. ET Year-end Special Reads Two sectors that rose on India's business horizon in 2024 2025 outlook: Is it time for cautious optimism or rekindling animal spirits? 2024: Govt moves ahead with simultaneous polls plan; India holds largest democratic exercise The family members that travelling from other countries to be by his side are very moved because of the death. Earlier false reports of his death had surfaced on social media, but Maco was still fighting for his life until his passing. Following a neighbor's 911 call reporting gunshots, the hospitalisation of rapper ensued. Authorities later recovered a firearm near the scene. Also Read : Musk and Ramaswamy Spark Fierce Debate Over Skilled Immigration, Clash with MAGA Base on U.S. Labor and Tech Industry Needs OG Maco’s rise to fame began with "U Guessed It," a song that not only became a viral sensation but also solidified his place in hip-hop. He went on to become part of QC Records and pushed creative boundaries, then made a Freshman Class list in XXL Magazine (2015) along side Vince Staples and K Camp. His career faced significant challenges due to health issues, including a battle with a rare flesh-eating disease that impacted his journey. However, for the sake of these overcome obstacles, OG Maco continued to be an inspiration and a stand of resilience in the music industry. 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OG Maco was an Atlanta-based rapper, known for his 2014 viral hit "U Guessed It." He gained fame for his energetic style and influence in the hip-hop world. When did OG Maco die? OG Maco passed away on December 26, 2023, in a Los Angeles hospital, surrounded by his family. (You can now subscribe to our Economic Times WhatsApp channel )ATLANTA (AP) — Jimmy Carter, the peanut farmer who won the presidency in the wake of the Watergate scandal and Vietnam War, endured humbling defeat after one tumultuous term and then redefined life after the White House as a global humanitarian, has died. He was 100 years old. The longest-lived American president died on Sunday, more than a year after entering hospice care , at his home in the small town of Plains, Georgia, where he and his wife, Rosalynn, who died at 96 in November 2023 , spent most of their lives, The Carter Center said. “Our founder, former U.S. President Jimmy Carter, passed away this afternoon in Plains, Georgia,” the center said in posting about his death on the social media platform X. It added in a statement that he died peacefully, surrounded by his family. Businessman, Navy officer, evangelist, politician, negotiator, author, woodworker, citizen of the world — Carter forged a path that still challenges political assumptions and stands out among the 45 men who reached the nation’s highest office. The 39th president leveraged his ambition with a keen intellect, deep religious faith and prodigious work ethic, conducting diplomatic missions into his 80s and building houses for the poor well into his 90s. “My faith demands — this is not optional — my faith demands that I do whatever I can, wherever I am, whenever I can, for as long as I can, with whatever I have to try to make a difference,” Carter once said. A moderate Democrat, Carter entered the 1976 presidential race as a little-known Georgia governor with a broad smile, outspoken Baptist mores and technocratic plans reflecting his education as an engineer. His no-frills campaign depended on public financing, and his promise not to deceive the American people resonated after Richard Nixon’s disgrace and U.S. defeat in southeast Asia. “If I ever lie to you, if I ever make a misleading statement, don’t vote for me. I would not deserve to be your president,” Carter repeated before narrowly beating Republican incumbent Gerald Ford, who had lost popularity pardoning Nixon. Carter governed amid Cold War pressures, turbulent oil markets and social upheaval over racism, women’s rights and America’s global role. His most acclaimed achievement in office was a Mideast peace deal that he brokered by keeping Egyptian President Anwar Sadat and Israeli Prime Minister Menachem Begin at the bargaining table for 13 days in 1978. That Camp David experience inspired the post-presidential center where Carter would establish so much of his legacy. Yet Carter’s electoral coalition splintered under double-digit inflation, gasoline lines and the 444-day hostage crisis in Iran. His bleakest hour came when eight Americans died in a failed hostage rescue in April 1980, helping to ensure his landslide defeat to Republican Ronald Reagan. Carter acknowledged in his 2020 “White House Diary” that he could be “micromanaging” and “excessively autocratic,” complicating dealings with Congress and the federal bureaucracy. He also turned a cold shoulder to Washington’s news media and lobbyists, not fully appreciating their influence on his political fortunes. “It didn’t take us long to realize that the underestimation existed, but by that time we were not able to repair the mistake,” Carter told historians in 1982, suggesting that he had “an inherent incompatibility” with Washington insiders. Carter insisted his overall approach was sound and that he achieved his primary objectives — to “protect our nation’s security and interests peacefully” and “enhance human rights here and abroad” — even if he fell spectacularly short of a second term. Ignominious defeat, though, allowed for renewal. The Carters founded The Carter Center in 1982 as a first-of-its-kind base of operations, asserting themselves as international peacemakers and champions of democracy, public health and human rights. “I was not interested in just building a museum or storing my White House records and memorabilia,” Carter wrote in a memoir published after his 90th birthday. “I wanted a place where we could work.” That work included easing nuclear tensions in North and South Korea, helping to avert a U.S. invasion of Haiti and negotiating cease-fires in Bosnia and Sudan. By 2022, The Carter Center had declared at least 113 elections in Latin America, Asia and Africa to be free or fraudulent. Recently, the center began monitoring U.S. elections as well. Carter’s stubborn self-assuredness and even self-righteousness proved effective once he was unencumbered by the Washington order, sometimes to the point of frustrating his successors . He went “where others are not treading,” he said, to places like Ethiopia, Liberia and North Korea, where he secured the release of an American who had wandered across the border in 2010. “I can say what I like. I can meet whom I want. I can take on projects that please me and reject the ones that don’t,” Carter said. He announced an arms-reduction-for-aid deal with North Korea without clearing the details with Bill Clinton’s White House. He openly criticized President George W. Bush for the 2003 invasion of Iraq. He also criticized America’s approach to Israel with his 2006 book “Palestine: Peace Not Apartheid.” And he repeatedly countered U.S. administrations by insisting North Korea should be included in international affairs, a position that most aligned Carter with Republican President Donald Trump. Among the center’s many public health initiatives, Carter vowed to eradicate the guinea worm parasite during his lifetime, and nearly achieved it: Cases dropped from millions in the 1980s to nearly a handful. With hardhats and hammers, the Carters also built homes with Habitat for Humanity. The Nobel committee’s 2002 Peace Prize cites his “untiring effort to find peaceful solutions to international conflicts, to advance democracy and human rights, and to promote economic and social development.” Carter should have won it alongside Sadat and Begin in 1978, the chairman added. Carter accepted the recognition saying there was more work to be done. “The world is now, in many ways, a more dangerous place,” he said. “The greater ease of travel and communication has not been matched by equal understanding and mutual respect.” Carter’s globetrotting took him to remote villages where he met little “Jimmy Carters,” so named by admiring parents. But he spent most of his days in the same one-story Plains house — expanded and guarded by Secret Service agents — where they lived before he became governor. He regularly taught Sunday School lessons at Maranatha Baptist Church until his mobility declined and the coronavirus pandemic raged. Those sessions drew visitors from around the world to the small sanctuary where Carter will receive his final send-off after a state funeral at Washington’s National Cathedral. The common assessment that he was a better ex-president than president rankled Carter and his allies. His prolific post-presidency gave him a brand above politics, particularly for Americans too young to witness him in office. But Carter also lived long enough to see biographers and historians reassess his White House years more generously. His record includes the deregulation of key industries, reduction of U.S. dependence on foreign oil, cautious management of the national debt and notable legislation on the environment, education and mental health. He focused on human rights in foreign policy, pressuring dictators to release thousands of political prisoners . He acknowledged America’s historical imperialism, pardoned Vietnam War draft evaders and relinquished control of the Panama Canal. He normalized relations with China. “I am not nominating Jimmy Carter for a place on Mount Rushmore,” Stuart Eizenstat, Carter’s domestic policy director, wrote in a 2018 book. “He was not a great president” but also not the “hapless and weak” caricature voters rejected in 1980, Eizenstat said. Rather, Carter was “good and productive” and “delivered results, many of which were realized only after he left office.” Madeleine Albright, a national security staffer for Carter and Clinton’s secretary of state, wrote in Eizenstat’s forward that Carter was “consequential and successful” and expressed hope that “perceptions will continue to evolve” about his presidency. “Our country was lucky to have him as our leader,” said Albright, who died in 2022. Jonathan Alter, who penned a comprehensive Carter biography published in 2020, said in an interview that Carter should be remembered for “an epic American life” spanning from a humble start in a home with no electricity or indoor plumbing through decades on the world stage across two centuries. “He will likely go down as one of the most misunderstood and underestimated figures in American history,” Alter told The Associated Press. James Earl Carter Jr. was born Oct. 1, 1924, in Plains and spent his early years in nearby Archery. His family was a minority in the mostly Black community, decades before the civil rights movement played out at the dawn of Carter’s political career. Carter, who campaigned as a moderate on race relations but governed more progressively, talked often of the influence of his Black caregivers and playmates but also noted his advantages: His land-owning father sat atop Archery’s tenant-farming system and owned a main street grocery. His mother, Lillian , would become a staple of his political campaigns. Seeking to broaden his world beyond Plains and its population of fewer than 1,000 — then and now — Carter won an appointment to the U.S. Naval Academy, graduating in 1946. That same year he married Rosalynn Smith, another Plains native, a decision he considered more important than any he made as head of state. She shared his desire to see the world, sacrificing college to support his Navy career. Carter climbed in rank to lieutenant, but then his father was diagnosed with cancer, so the submarine officer set aside his ambitions of admiralty and moved the family back to Plains. His decision angered Rosalynn, even as she dived into the peanut business alongside her husband. Carter again failed to talk with his wife before his first run for office — he later called it “inconceivable” not to have consulted her on such major life decisions — but this time, she was on board. “My wife is much more political,” Carter told the AP in 2021. He won a state Senate seat in 1962 but wasn’t long for the General Assembly and its back-slapping, deal-cutting ways. He ran for governor in 1966 — losing to arch-segregationist Lester Maddox — and then immediately focused on the next campaign. Carter had spoken out against church segregation as a Baptist deacon and opposed racist “Dixiecrats” as a state senator. Yet as a local school board leader in the 1950s he had not pushed to end school segregation even after the Supreme Court’s Brown v. Board of Education decision, despite his private support for integration. And in 1970, Carter ran for governor again as the more conservative Democrat against Carl Sanders, a wealthy businessman Carter mocked as “Cufflinks Carl.” Sanders never forgave him for anonymous, race-baiting flyers, which Carter disavowed. Ultimately, Carter won his races by attracting both Black voters and culturally conservative whites. Once in office, he was more direct. “I say to you quite frankly that the time for racial discrimination is over,” he declared in his 1971 inaugural address, setting a new standard for Southern governors that landed him on the cover of Time magazine. His statehouse initiatives included environmental protection, boosting rural education and overhauling antiquated executive branch structures. He proclaimed Martin Luther King Jr. Day in the slain civil rights leader’s home state. And he decided, as he received presidential candidates in 1972, that they were no more talented than he was. In 1974, he ran Democrats’ national campaign arm. Then he declared his own candidacy for 1976. An Atlanta newspaper responded with the headline: “Jimmy Who?” The Carters and a “Peanut Brigade” of family members and Georgia supporters camped out in Iowa and New Hampshire, establishing both states as presidential proving grounds. His first Senate endorsement: a young first-termer from Delaware named Joe Biden. Yet it was Carter’s ability to navigate America’s complex racial and rural politics that cemented the nomination. He swept the Deep South that November, the last Democrat to do so, as many white Southerners shifted to Republicans in response to civil rights initiatives. A self-declared “born-again Christian,” Carter drew snickers by referring to Scripture in a Playboy magazine interview, saying he “had looked on many women with lust. I’ve committed adultery in my heart many times.” The remarks gave Ford a new foothold and television comedians pounced — including NBC’s new “Saturday Night Live” show. But voters weary of cynicism in politics found it endearing. Carter chose Minnesota Sen. Walter “Fritz” Mondale as his running mate on a “Grits and Fritz” ticket. In office, he elevated the vice presidency and the first lady’s office. Mondale’s governing partnership was a model for influential successors Al Gore, Dick Cheney and Biden. Rosalynn Carter was one of the most involved presidential spouses in history, welcomed into Cabinet meetings and huddles with lawmakers and top aides. The Carters presided with uncommon informality: He used his nickname “Jimmy” even when taking the oath of office, carried his own luggage and tried to silence the Marine Band’s “Hail to the Chief.” They bought their clothes off the rack. Carter wore a cardigan for a White House address, urging Americans to conserve energy by turning down their thermostats. Amy, the youngest of four children, attended District of Columbia public school. Washington’s social and media elite scorned their style. But the larger concern was that “he hated politics,” according to Eizenstat, leaving him nowhere to turn politically once economic turmoil and foreign policy challenges took their toll. Carter partially deregulated the airline, railroad and trucking industries and established the departments of Education and Energy, and the Federal Emergency Management Agency. He designated millions of acres of Alaska as national parks or wildlife refuges. He appointed a then-record number of women and nonwhite people to federal posts. He never had a Supreme Court nomination, but he elevated civil rights attorney Ruth Bader Ginsburg to the nation’s second highest court, positioning her for a promotion in 1993. He appointed Paul Volker, the Federal Reserve chairman whose policies would help the economy boom in the 1980s — after Carter left office. He built on Nixon’s opening with China, and though he tolerated autocrats in Asia, pushed Latin America from dictatorships to democracy. But he couldn’t immediately tame inflation or the related energy crisis. And then came Iran. After he admitted the exiled Shah of Iran to the U.S. for medical treatment, the American Embassy in Tehran was overrun in 1979 by followers of the Ayatollah Ruhollah Khomeini. Negotiations to free the hostages broke down repeatedly ahead of the failed rescue attempt. The same year, Carter signed SALT II, the new strategic arms treaty with Leonid Brezhnev of the Soviet Union, only to pull it back, impose trade sanctions and order a U.S. boycott of the Moscow Olympics after the Soviets invaded Afghanistan. Hoping to instill optimism, he delivered what the media dubbed his “malaise” speech, although he didn’t use that word. He declared the nation was suffering “a crisis of confidence.” By then, many Americans had lost confidence in the president, not themselves. Carter campaigned sparingly for reelection because of the hostage crisis, instead sending Rosalynn as Sen. Edward M. Kennedy challenged him for the Democratic nomination. Carter famously said he’d “kick his ass,” but was hobbled by Kennedy as Reagan rallied a broad coalition with “make America great again” appeals and asking voters whether they were “better off than you were four years ago.” Reagan further capitalized on Carter’s lecturing tone, eviscerating him in their lone fall debate with the quip: “There you go again.” Carter lost all but six states and Republicans rolled to a new Senate majority. Carter successfully negotiated the hostages’ freedom after the election, but in one final, bitter turn of events, Tehran waited until hours after Carter left office to let them walk free. At 56, Carter returned to Georgia with “no idea what I would do with the rest of my life.” Four decades after launching The Carter Center, he still talked of unfinished business. “I thought when we got into politics we would have resolved everything,” Carter told the AP in 2021. “But it’s turned out to be much more long-lasting and insidious than I had thought it was. I think in general, the world itself is much more divided than in previous years.” Still, he affirmed what he said when he underwent treatment for a cancer diagnosis in his 10th decade of life. “I’m perfectly at ease with whatever comes,” he said in 2015 . “I’ve had a wonderful life. I’ve had thousands of friends, I’ve had an exciting, adventurous and gratifying existence.” ----- By Bill Barrow for the Associated Press Associated Press journalist Alex Sanz contributed to this report.

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