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<blockquote data-quote="Caustic Burno" data-source="post: 486384" data-attributes="member: 694"><p>The simularties of the late seventies and today are scary, I guess I should say the late sixties as this was when easy money started for purchasing land. By the early 80's S&L's started failing.During the same time we were getting hit by the Arab oil embargo and runaway fuel prices. Who remembers the Savings and loans? Falling cattle prices. Lots of people were covering cost and expanding on easy credit and then it came time to pay the fiddler. Unemployment went through the roof the only difference in a recession and depression is in a depression you are out of work in a recession your neighbor is.</p></blockquote><p></p>
[QUOTE="Caustic Burno, post: 486384, member: 694"] The simularties of the late seventies and today are scary, I guess I should say the late sixties as this was when easy money started for purchasing land. By the early 80's S&L's started failing.During the same time we were getting hit by the Arab oil embargo and runaway fuel prices. Who remembers the Savings and loans? Falling cattle prices. Lots of people were covering cost and expanding on easy credit and then it came time to pay the fiddler. Unemployment went through the roof the only difference in a recession and depression is in a depression you are out of work in a recession your neighbor is. [/QUOTE]
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