[Kolokotronis]

“It was just supposed to be all roses and lilies!”

The recession of the late ‘70s/early ‘80s was really something. I remember 22% interest rates on loans, inflation and no money around. We actually had a barter exchange set up where I could trade legal work for wood or gasoline or plumbing/electrical work. Thursdays I’d often go up and down the main street of our town seeing if my clients could pay a little something on their bill! I had left my job as an associate in a law firm and had opened my own practice. We had a new baby by 1980 but I think we were too dumb to be scared. In any event, most everyone we knew were in the same boat. She Who Must Be Obeyed calls those times our “Water stew and chicken liver days.” We survived and so will today’s young folks.

[screaminsunshine]

Those liberal art PC degrees aren’t going very far are they? We are infested with illegal alien labor And worthless college grads with social sci. degrees.

[fieldmarshaldj]

Then again, might be “Lord of the Flies.”

[PeterPrinciple]

We actually had a barter exchange set up where I could trade legal work for wood or gasoline or plumbing/electrical work.

---

That was about the time that the government began requiring 1099’s reported to them on the value of the exchange. All them laws are still on the books..................

[Mamzelle]

re: The recession of the late ‘70s/early ‘80s was really something. I remember 22% interest rates on loans, inflation and no money around. We actually had a barter exchange set up where I could trade legal work for wood or gasoline or plumbing/electrical work. Thursdays I’d often go up and down the main street of our town seeing if my clients could pay a little something on their bill! I had left my job as an associate in a law firm and had opened my own practice. We had a new baby by 1980 but I think we were too dumb to be scared. In any event, most everyone we knew were in the same boat. She Who Must Be Obeyed calls those times our “Water stew and chicken liver days.” We survived and so will today’s young folks.)))

I remember the early eighties...owned a house with 14% interest rates, then DH lost his contract and we had to move. House on the market over a year... Took a ten percent loss on the house which felt like a catastrophe, had to dip into savings at closing. That was also a high-tax time...

My this recession be no worse than that one. But I'm afraid it'll be much worse.