the mindset was different during and after the war than it is today...
they had already tightened their belts, people were willing to chip in , buy bonds, scrap their metal to the government for free, and do what they could and there was a general feeling of patriotism and pride in their country as well as relief that 'the boys had come home'.
Keep in mind that back then companies did not have ceo's that made massively more than the workers. Companies also made products that were meant to last. People didn't go out and buy the newest model of phone each year, didn't upgrade computers and tv's. a house cost about twice an anual salary a modest car about half. a family of four could live on one income and women that had been in the workforce during the war went back to the home when the husbands returned. Jobs were not taken over by automation and some guy even pumped your gas and washed your windows when you pulled into the station. Jobs were not a huge problem with unemployment around 2%.
it was also a time of increased taxes and reduced government spending in order to keep the annual budget deficits small.
this is some of how they survived that.
All great points.
My dad tells me stories about how he purchased a new 2 bedroom home for 12k back in the fifties.......back when he only made 5k a year in salary.
I wonder how many people live in homes today, or could find a home today, where it is only two years net pay.
In California it is closer to ten years. Same goes for college (which was rare).....health care......and just about everything else in regards to cost of living. It is out of sight and with salaries no longer going up where is all this future economic prosperity supposed to come from? What happens if unemployment rate doesn't go down or actually increases again?
From inflation, government becoming our entire GDP, and more buying of our own debt. We are in unprecedented waters with a lot of this all occurring at the exact same time. Hence the need to not get crazy with our spending and to tread lightly. That's all I am getting at. I'm not saying the sky is falling but we have some things to be rather concerned with IMO.
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