Quote:
Originally Posted by tony404
People also forget for years the US built what it consumed and the prices weren't crazy and the country was strong.
|
Times were better ...
Other than the 6 year long panic of 1873 and the failure of the largest US bank at the time.
Other than the Panic of 1893, the failure of some of the railroads a run on the gold supply.
Other than the
Panic of 07 and the rescue of the banking system engineered by
JP Morgan.
Other than the 3 year long recession after world War I that came with sky high inflation
Other than
the Great Depression. 10 Years of misery. No further details needed.
Other than the recessions of 53 and 57 which also came with high inflation.
Other than the nasty, brutish recession of 73-75 which caused a severe bear market accompanied by a quadrupling of oil prices and leading to inflation of over 10%.
Other than the worst recession since the Great Depression that started the 1980s. Both Unemployment and inflation over 10%.
Other than the Savings & Loan disaster that lead to the closing of 1000 financial institutions that started the 1990s.
Sure, things have always been great. NOW they are falling apart.