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Investment Analysis Clubs / Macro Economic Trends and Risks
|Subject: Re: note on non-employment||Date: 9/7/2013 8:27 PM|
|Author: tim443||Number: 433375 of 506114|
The end of the war brought a recession and lots of unemployed vets, as well as horrendous inflation.
I don't really recall the recession, I probably wouldn't have recognized it at the time, perhaps because we skipped that war there were no "unemployed vets" either. I do however recall the "horrendous inflation" all too well.
Military people in Canada received cost of living increases annually but within months the inflation ate up the gains and more. I was stationed in Greenwood NS (Annapolis Valley) at the time a rather rustic and low cost area with small farming. I was already a homeowner (bought in 1971 at age 23) and with fixed five year payments was fine. People stationed in cities such as Calgary, Edmonton, Victoria and a few other high cost places suffered as rents surged.
In Calgary a story hit the newspapers that several military junior NCOs applied for and received welfare because the military salary was insufficient to live on. RCMP officers refused postings to Victoria and Vancouver because they could not afford to live there. The military senior brass and treasury was finally ordered by our PM (Trudeau) to make a special payment of $500 to all military people below a certain annual pay... including me. }};-D
Within a couple of years high cost areas had living allowances implemented for people "forced" to live there including the RCMP as well as the military.
Any <"Reality is merely an illusion, albeit a very persistent one."> mouse
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