posted on Mar, 6 2011 @ 09:48 PM
reply to post by Dance4Life
Nope, 40's, WWII, 1946 was the highest peak of debt to GDP.
50's did see a recession, but deflating debt.
post-war boom with manufacturing of white goods and emergence of an affluent middle class drove it back down?
After the war manufacturing dropped off a cliff, and hundreds of thousands were laid off. The real boom of building came with rebuilding Europe, as
well as being the largest manufacturing base in the World at the time.. if you needed machinery you bought US, but it didn't kick in till the mid
60's. The 50's are portraited as a time of affluence in the US, but it really wasn't.. our dollar was strong, so goods were cheap compared to wages,
but from 1950-1960 approx 3 years were spent in recession periods. We also had government spending on the Korean War, a war that we lost.
However you are right in that the economy was completely different, and because of it, jobs will fuel growth. Now however the move is toward more
production with fewer Humans needed, thus lowering the wage value of every Human in the work force.. essentially, we can see economic growth without
worrying about unemployment, but at the same time the actual bulk of our so called economy is "consumerism" in which we need poor people paid enough
to buy the garbage the corporations produce.
IMO, it's inadvisable to compare this recession with any in the past, and the compare the Federal reaction to it with previous cases or other nations
experiences.. because no one has any idea what's going to happen.
edit on 3/6/2011 by Rockpuck because: (no reason given)