The Motley Fool Discussion Boards
Investment Analysis Clubs / Macro Economic Trends and Risks
|Subject: Re: note on non-employment||Date: 9/7/2013 12:12 PM|
|Author: notehound||Number: 433353 of 512754|
From 1950 to 1970 about 60% of the US population had jobs. We don't remember those years as being bad economically... Before about 1970, a middle class family frequently lived on one paycheck.
I remember it well. My dad, who made a run-of-the-mill engineer's salary, was able to support 3 kids, a suburban house, a stay-at-home wife, a new car (we only had one), and still have money for a color TV and an occasional driving vacation. He did all that without credit - other than a 5.25% 15-year loan for the house.
By 1975, he no longer could afford the same "extras," my mom started to work part-time and we only got second-hand cars.
For a very small child (sheltered from the hippies, the civil unrest and assassinations), the 1960s were pretty fantastic. From what I've heard, the 1950s were wonderful years for young middle class children, as well.
The "Leave it to Beaver" middle class lifestyle was not completely mythical. With the exception of June Cleaver's pearls and high heels in the kitchen, life for a kid with a stay-at-home mom in the 1960s (and 50s) was not all that different from the Cleavers.
The 1970s did a real number on that idyllic situation, though, from my own recollection. Of course, I also went through puberty in the 1970s - that was turbulent in and of itself.
|Copyright 1996-2017 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|