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<blockquote data-quote="Caustic Burno" data-source="post: 638027" data-attributes="member: 694"><p>This recession isn't near as bad as the one in the late 70's early 80's yet.</p><p>We had double the unemployment rate as well as double digit inflation.</p><p>There were mass migrations of famlies to the areas that had promise of a job, Houston grew in leaps and bounds from people up north. The oil boom hadn't went belly up yet.</p><p>The big difference is you had a generation that still operated on cash and not plastic, for the last 20 years Americans have been on credit spending spree/ along with the government forcing loans to unqualified borrowers.</p><p>We have had a generation of Americans dancing and partying and now it is time to pay the fiddler.</p></blockquote><p></p>
[QUOTE="Caustic Burno, post: 638027, member: 694"] This recession isn't near as bad as the one in the late 70's early 80's yet. We had double the unemployment rate as well as double digit inflation. There were mass migrations of famlies to the areas that had promise of a job, Houston grew in leaps and bounds from people up north. The oil boom hadn't went belly up yet. The big difference is you had a generation that still operated on cash and not plastic, for the last 20 years Americans have been on credit spending spree/ along with the government forcing loans to unqualified borrowers. We have had a generation of Americans dancing and partying and now it is time to pay the fiddler. [/QUOTE]
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