[Mr. Douglas]

It probably seemed that way in 1970 too.

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It’s very different this time. That’s the point of the first paragraph and supporting paragraphs.

And keep in mind that our country is in a bit more debt than it was back then. I compare it thusly:

1960’s: we have 50% equity in our house and six months income saved up and dad loses his job.
Today: We are underwater on our house and all the credit cards are maxed out, we have no savings, and dad loses his job.

On the surface they seem the same, but they will play out very differently.

[rbg81]

I remember things being pretty rough in the 1960s/70s too. For a while my Dad was really worried about getting laid off. It never happened, but the tension in the house was palpable. One top of that it turned out my Mom’s credit card tab was a lot more than Dad thought. Lots of fighting. We actually put our house up for sale at one point. Kind of a dark period from my childhood.