Also keep in mind that after WWII, the entire world's economy was in shambles-EXCEPT for the United States.
We survived that global conflict largely intact with an immense production capacity and an overabundance of skilled workers to run it. During the 1950's and '60's, all our competitors were busy rebuilding their shattered economies, infrastructures and societies while we cranked out the goods unimpeded. We call those times "The Good Old Days".
For a few decades had the entire world's markets to ourselves. As countries like Germany and Japan slowly regained their footing, competition increased and our economy slowed.
NOW we compete with global players that undercut wages and manipulate currencies to their advantage. Its hard to keep a job when your direct competitor is willing to work for a tenth your wage and content to live in a onsite dorm while doing it!
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Today's Featured Article - Uncle Cecil's Super A Lives Again - by Mike Purcell. A week or so out of most of my childhood summers was often spent with my Uncle Cecil and Aunt Sissie in the small East Texas town of Maydelle on their 80 acre farm. Some of my fondest memories of these visits are those of learning to drive a tractor at the helm of Uncle Cecil’s 1948 Farmall Super A. Uncle Cecil was the second owner of this wonderful little tractor, but it was almost as though he had adopted an infant. The original owner was a man from Minnesota who bought her from a local dea
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