this post was submitted on 16 Mar 2024
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United States | News & Politics
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Ah; 40 years old means she doesn’t remember the oil crisis in the 70s.
We’ve had over 20 years of low interest and low inflation and people have forgotten how things can be.
The cost of living is still outrageous compared to then even when you adjust for inflation. There also weren't the same mega corps running every facet of your life while providing the cheapest crap that will never last
That was the era of “made in Japan” — but you’re right; it was different mega corps running every facet of your life.
It was an era where a LOT of people were bankrupted and had to start again from nothing. The big difference was that doing so was possible at the time; this time around it means you’ll likely have no hope of ever owning property because there’s just enough time in one lifetime to get there, if that (for most people).
It is a completely different ball game in 2024 and you'd have to be blind to not see it. The power and influence companies have in 2024 dwarfs what any company had in the '70s. Especially with the adevnt of the Internet. So I'm sorry there's just no comparison here. It may have been tough for a lot of people, but like you said, they had a chance to rebuild. People barely even have a chance to get started these days.