I'm only 49, but try to imagine the national mood and investor sentiment with:
- a military draft
- an unpopular war in progress
- price controls
- lines at the gas station... until the gas runs out
- desperate hope and subsidies for alternative energy
- double-digit inflation
- out-of-control pollution
- a "lost decade" of investment returns (thank goodness for dividends)
- gold bugs everywhere
- auto manufacturers and cities going bankrupt
Oh, I see, no wonder people are beginning to make the comparison.
But I think the mood was a lot bleaker back then. I can't imagine what 1970s Pittsburgh would have been like [-]2000s Detroit[/-] without a good football team.
