Ah! The good old days! During the sixties the U.S.A. was a paradise. The U.S. dollar had major acquisitive power and it was backed by gold. We had a manufacturing base with good paying jobs. You could buy a brand new car for $3,200 and a ranch style house for $20,000. We had a respected and beloved president. And then, the bottom fell off the U.S.A. The beloved president was assassinated by a triple conspiracy of CIA, Mafia and ultra right wing Cubans from Miami. The next president got us deeply involved in a civil war in Vietnam. He did not raise taxes to finance the quagmire that he got us into in Southeast Asia. The next president was even worse. He withdrew the gold backing of the dollar. It became a fiat currency, just like Monopoly funny money.
The war in Vietnam was lost, and from that point on everything went downhill.
Here are some interesting statistics comparing the 1960’s and the first decade of the 21st Century, provided by a respected Mutual Funds family:
Single Family Home: 1968, $20,100; 2006, $221,900.
Loaf of Bread: 1968, 25 Cents; 2006, $2.39.
Gallon of Gasoline: 1968, 34 Cents; 2007, $2.79.
Movie Ticket: 1968, $1.31; 2006, $6.55.
Gallon of Milk: 1968, 99 Cents; 2007, $2.55
College Costs: 1968, $1,245; 2006, $12,796
The good paying jobs were sent to Mexico and China so that greedy capitalists could make even more “worthless” dollars.
Thank you, Donkeys and Elephants, for having destroyed a once prosperous country!