Loading ...I was only 14 years old. I don’t remember any hard times, so I googled it.
Part:
“a sharp economic decline that only lasted eight months. By the time recovery began in May 1958, most lost ground had been regained. As 1958 ended, the economy was heading towards new high levels of employment and production. ”
Comment:
If your going 90 MPH with a loaf under each arm, and slow down to 65 MPH and lost one loaf, it can feel like a down turn. Like China slowing from GDP of 10 to GDP of 7 :). Nobody’s wife worked after the war. During yes. But not after.
My older brother had first a Model A ford $5. Later on a 49 Ford Convertible, then a 50 Chevy convertible, then a 54 Ford convertible, and later on got married, and a 1959 Chevy convertible. My father bought a brand new 1960 Ford.
The cars were SOOOOO simple to fix. My brother once changed the clutch in 3 spd stick tranny on the 50 Chevy at the curb in the snow. Tune ups? Plugs points and condenser. Gap the points with a match book cover. The fuel pump was a little thing $10 on the outside of the engine.
The 50s and 60s were great. If some people were humble there must have been something wrong. Lazy? Handicapped? Twelve children? Wrong occupation? Minimum wage was adequate for two kids. My grandfather unskilled labor had 8 kids and wife not working.
After the Great depression the Gov’t (tax absorbers) got smart and did not allow people, to pay other people coolie wages. Call it a tax on business. After 1971? The gov’t (run by business) allowed coolie wages. (tax breaks)
Why are you looking for a fly in the soup ’50s and ’60s?? 🙂 Imports and globalization killed USA living standards after 1975. The only really good years were an accident between ’45 to ’75.