The Motley Fool Discussion Boards

Previous Page

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 479952

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.