Saved by sari and
How This All Happened
Pent-up demand for stuff, and our newfound ability to make stuff, created the jobs that put returning GIs back to work. And they were good jobs, too. Mix that with consumer credit, and America’s capacity for spending exploded.
Morgan Housel • The Psychology of Money: Timeless lessons on wealth, greed, and happiness
What was so unique about the 1950s was the ability for people to find financial balance in a way that before and since has felt elusive. World War II left its mark on America economically and socially. Between 1942 and 1945, virtually all wages were set by the National War Labor Board, which favored flatter pay—a smaller gap between low-income and
... See moreMorgan Housel • Same as Ever: A Guide to What Never Changes
2. So we did something about it: Low interest rates and the intentional birth of the American consumer.