Posted by Mark - IN. on March 10, 2017 at 16:46:11 from (24.14.60.6):
In Reply to: hard times posted by kccca on March 10, 2017 at 12:20:31:
Actually, those hard times began in the late '70's where the A.R.M (Adjustable Rate Mortgage) originated as a gimmick to try and get people to purchase homes to help spur the economy. Adjustable rates that ballooned at least a point every year so that within a couple of years, those that did...could no longer afford their forever rising mortgage payments. Oil embargo, long fuel lines. Telling everyone to turn down their thermostats and put on sweaters. Things like that.
I think a huge difference between the times of the Great Depression, the late '70's and early '80's and now, is that how do people feel financial strife IF the government extends unemployment to say...five years? True, one brings home less $$$ in unemployment relief and food stamps, but when it comes in regularly, its much easier to pallet than standing in soup lines, literally. Think of it like putting a lobster into a pot of cold water and turning up the burner. The lobster doesn't notice being slow cooked. $20 TRILLION deficit later with an ever dwindling group of those taxpayers flipping the bill...eventually lobster is served up very well cooked. Time to change that.
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