The Motley Fool Discussion Boards

Previous Page

Retirement Discussions / Retired Fools

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 20035

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.