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Author: telegraph Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 19414  
Subject: Re: How much does it cost to live in retirement? Date: 12/18/2011 10:34 PM
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". I also seem to remember that things were pretty prosperous in the 50's and 60's when top tax rates were far in excess of what they are now."


You don't remember well at all. I guess it must be senioritis?

The stock market did terrrible in the 60s. We had some severe recessions. The decade started with a recession and ended with a recession!


from wiki


"The Recession of 1960–1961 was a recession in the United States. According to the National Bureau of Economic Research the recession lasted for 10 months, beginning in April 1960 and ending in February 1961.

During this recession, the Gross Domestic Product of the United States fell 1.6 percent. Though the recession ended in November 1960, the unemployment rate did not peak for several months. In May 1961, the rate reached its height for the cycle of 7.1 percent.[3]"

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1970 Recession
This recession was relatively mild, lasting 11 months. GDP was down for two quarters:Q1 -.7%, Q2 .7%, Q3 3.6%, Q4 -4.2%. Unemployment peaked at 6.1% in December 1970.

Worse, Lyndon Johnson got us into the Vietnam War....in part to protect the business interests there..and to protect 'Christianity' from those godless Russkie types. The Catholic church was up to its neck in getting Johnson to keep escalating US involvement. We killed 55,000 US servicemen there....and wounded another couple hundred thousand.

Right the middle and end of the 60s. NO fun then.

Oh..and then johnson created the modern welfare state with loads of Great Society BS...that is destroying the country now.


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t
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