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My memory is that the entire decade felt as if every aspect of American society were falling apart. Plus, for Iran, the hugest World terrorist organization, you can thank Carter.Ĭarter’s parrots didn’t tell people driving 15 year old cars that can’t afford inflated gas to buy $60 EVs. After VN and Carter, the Army’s morale was lower than whale excrement. In light of the coming DEPRESSION, keep your money in your mattress may be a way to go. In five years your bank deposit dollar would be worth $0.70. For many years now the Fed has kept rigged-market interest rates at near-zero.Įrgo, if you have money in a bank today you have a negative real return of 7%. Now, they’re in Heaven.ĭespite very high interest rates, if you had money in one of the new bank insured deposit products, you earned a positive real return. I was under-30 and starting a career and family. Go here to read the comments from the original twitter thread.ĭr. May we have another Reagan to set things right again. Bad enough to live through that period in my twenties, but having to do it again in my sixties, seems to be unwarranted in one life. I was twenty-three in 1980 and there was a great feeling that the wheels were coming off the country, which directly led to Reagan’s landslide victory in the fall. Until the year of the three Popes in 1978, the ongoing disaster that was the aftermath of Vatican II raged unabated. Talk radio was local and tended to be nonpolitical. No big tech censorship, but the three networks marched in lockstep and were pro-Democrat. We didn’t have the same cultural craziness that we do today, but with abortion, feminism and homosexuality it was clear what was coming. In the midterm elections of 1978 the Republicans gained three seats in the Senate and fifteen in the House, and that was at a time when the Republican party was much weaker than it is now. The same sense of US impotence abroad with inflation raging at home. A bit, especially after the Soviet invasion of Afghanistan in December 1978.