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Stayin’ Alive in the New ’70s
People who believe that history repeats itself are asking themselves: Is this a rerun of the ’30s…or a replay of the ’70s. Is it a deflationary recession we’re rehearsing? Or an inflationary recession? How is this story going to turn out?
We look around. We don’t see any breadlines…and people aren’t dressed nearly as well as they were in the ’30s. But now people get their free food through plastic “Independence” cards…proving that they are 100% dependent on the taxpayer for their daily bread. And as for dress…what do we know? If people like wearing flip-flops, pedal pushers, and shirts with…
27Jun2008 | Daily Reckoning | Comments Off | Continued
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