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URL:  http://boards.fool.com/cncquotthere-was-a-reduction-of-poverty-in-the-30932630.aspx

Subject:  Re: More Shutdown Fallout Date:  10/20/2013  12:19 PM
Author:  telegraph Number:  18690 of 20014

CnC:"There was a reduction of poverty in the 50's and 60's."

The 1950s was fueled by the simnple FACT that the manufacturing base of the US wasn't destroyed in WW2 and we simply turned that to producing consumer goods, plus....

we had a great base of HARD WORKING people after WW2 - the 'greatest generation' who WORKED HARD and produced.

Of course, poverty plummeted as everyone pursued the American Dream and lived within their means. Almost no one 'lived on credit.

I grew up in the 50s and 60s. It was a great time.

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" The frantic build-up of military prowess provided employment on a grand scale, With the end of the cold war, the stimulus (military buld-up) slowed. "


The cold war didn't end till Reagan, right ? In the 1980s.

You forgot the oil shocks and depressions of 1966 and the 1970s...several of them!......

And the Korean War and the Vietnam War.

We had 40% stock market drops, high unemployment in the 70s....and the Cold War was still raging with the Soviets....

You need a history refresher