In 1979 inflation was like 17% and the interest on a new car loan was 20%. Minimum wage was $2.25 an hour, or maybe a little higher.
Inflation was never 17% in 1979. The peak was about 11%.
Good old Jimma Carter. Malaise, his speciality.
I remember his 55 mph speed limit - and naturally, I had to have a 425 HP
l48 corvette and it was a REALLY slow speed. If I tried to go faster, there were always “Carter Enforcers” ready to block the lanes to ensure nobody could go faster.
The joke at the time was “the two things a Naval Officer must learn is Russian and Lifeboat Drill”.
>> In 1979 inflation was like 17% and the interest on a new car loan was 20%. Minimum wage was $2.25 an hour, or maybe a little higher.
I remember those years... as do a LOT of us here. We dealt with it. Back then it was considered important and ethical to pull your own weight.