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Thread: Are We Doomed To Repeat The Mistakes Of The 1970s?

  1. #1
    Registered Member enigma57's Avatar
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    Are We Doomed To Repeat The Mistakes Of The 1970s?

    We are considering a major remodel of our present home. Or possibly building a new home. Price of lumber is up roughly 300% since same time a year ago.

    So what gives? Why are prices so high? And when will prices come down?

    Is it a simple case of supply and demand? Will prices normalize once supply increases to meet demand?


    https://fortune.com/2021/05/05/lumbe...e-to-buy-wood/

    Or is there more to the story?



    Reminds me of the 2nd Arab embargo and contrived gasoline shortage back in the 1970s. America would not become energy independent until President Trump's term in office. So we were dependent on imported oil. And the Arabs (through OPEC) weaponized oil by manipulating both production and supply. Carter was president. Like Biden, he was a weak president and our nation's enemies took full advantage of that.

    Long lines at the pump. Limited amount you coud buy. One day, odd licence plate numbers. Next day, even license plate numbers. Gas prices 600% over normal. 55 MPH speed limit out on the highway......



    And whilst that insanity was going on...... I was between construction jobs for a while. Had a wife and 3 young sons to feed and had to keep a roof over their heads. So I went down to the docks. When the longshoremen had more work than they could handle, you could work on the docks using your social security card. This time though...... I was told they couldn't unload ships because there were ships backed up out the channel and into the Gulf of Mexico. Seems the tankers could not unload their oil because the oil storage tanks at the refineries that line the Houston Ship Channel were all full.

    The situation was so dire that oil companies were having guys go door to door in the Houston area and offer to buy old 55 gallon drums so long as they hadn't been cut up to make barbeque pits.

    When I turned on the TV that evening, Marvin Zindler was flying in a helicopter over the refineries that line the Houston Ship Channel doing an expose'. In those days, the oil storage tanks had floating tops and yes...... You could see that every one of them was full just like the longshoremen had told me.

    And all the while, folks continued to sitting in long lines at gas stations to pay inflated prices for limited amounts of gas so they could go to work the following day. It was surreal. And the only 'gas shortage' was at the pumps. But that was how it was around the time I went back into the service in 1975......

    Now here we are 46 years later...... And deja vu...... Seems as if the Biden regime are driving what had been a thriving economy into a state of 'managed decline'...... Only its not 'managed' at all...... Its in free fall.

    That said...... I cannot help but wonder if we are having similar contrived 'shortages' again, as well. Guess it wouldn't hurt to revisit what went down in the 1970s and see if we can learn the lessons necessary to avoid making the same mistakes all over again......

    https://www.minneapolisfed.org/artic...economy-197475

    https://www.marketplace.org/2018/09/...70s-inflation/

    Your thoughts?

    Harry
    Last edited by enigma57; 06-03-2021 at 03:11 AM.
    'G-d Bless The U.S.A.'...... Lee Greenwood......

    http://www.youtube.com/watch?v=U_5aoptI5j0

    Staff Sergeant Roy Benavidez......

    https://www.youtube.com/watch?v=i3nncd4sxaM&t=466s

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    Registered Member Old Buzzard's Avatar
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    2 words: Market manipulation.

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    Registered Member busterwivell's Avatar
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    Everything is in short supply and skyrocketing in price. Anybody else miss Trump yet?

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    It is times like this I am glad I have no children.

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    Registered Member enigma57's Avatar
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    I reckon its a matter of perception, Mark. Cup half full or cup half empty sort of thing. Our kids and grandkids and great-grandson are blessings, every one. And we are so proud of them. For they have their heads screwed on straight and will be helping to straighten out the mess that the hate America crowd seem hell bent on making of things.

    Best regards,

    Harry
    'G-d Bless The U.S.A.'...... Lee Greenwood......

    http://www.youtube.com/watch?v=U_5aoptI5j0

    Staff Sergeant Roy Benavidez......

    https://www.youtube.com/watch?v=i3nncd4sxaM&t=466s

  6. #6
    Registered Member enigma57's Avatar
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    Quote Originally Posted by Old Buzzard View Post
    2 words: Market manipulation.
    Quote Originally Posted by busterwivell View Post
    Everything is in short supply and skyrocketing in price. Anybody else miss Trump yet?

    'G-d Bless The U.S.A.'...... Lee Greenwood......

    http://www.youtube.com/watch?v=U_5aoptI5j0

    Staff Sergeant Roy Benavidez......

    https://www.youtube.com/watch?v=i3nncd4sxaM&t=466s

  7. #7
    Registered Member Old Buzzard's Avatar
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    The false narrative of "short supply" could be easily explained.
    When paid NOT to work, many will take advantage of that situation.
    A recent discussion with a well known car part supply manager, went like this.
    ME: Why all the long lead/no stock issues? I need a Walbro pump.
    His reply: We have 27 cargo containers sitting in the LA dock system, and still on ships.
    No "movers" to do the job.
    As long as the moron in the WH can, he will manipulate the situation.
    When the time is right, he and his band of thieves/liars, will claim a huge jump in "new jobs" created...
    Watch for it. It'll happen just before the midterms.

  8. #8
    Registered Member enigma57's Avatar
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    Agreed. In between construction jobs in the '70s before I went back into the service, I alternated between working on the docks to climbing trees & clearing rights-of-way for the electric co. to driving trucks. Whatever put food on the table.

    So I understand that whether products are moved via ship or via rail initially...... They all move to their intermediate or final destinations by truck. Without truckers hauling goods, nothing would make it to local wholesale or retail outlets and the shelves would be bare.

    And yes, as you say...... I am sure Biden will take undeserved credit for an 'upturn in the economy' just before the midterm elections. And the partisan media will herald the 'event' as though the man walked on water. Whether or not there is such an 'event' at all.

    And I'll add that considering the fact that Biden is doing all the wrong things to make such a thing happen...... If it does happen, it will be in spite of anything Biden may do rather than because of anything he may do.

    Best regards,

    Harry

    P.S. >>> Sorry! Saw this just now and couldn't resist. Seems rather apropos.....

    Sunday February 14, 2021Industry Trends


    Last edited by enigma57; 06-05-2021 at 02:35 AM. Reason: add Dilbert cartoon
    'G-d Bless The U.S.A.'...... Lee Greenwood......

    http://www.youtube.com/watch?v=U_5aoptI5j0

    Staff Sergeant Roy Benavidez......

    https://www.youtube.com/watch?v=i3nncd4sxaM&t=466s

  9. #9
    Registered Member Old Buzzard's Avatar
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    Angry More nonsense...

    A restaurant owner in NY, was on a talk show, and commented on the inflation issues we are seeing.
    He claimed some of his food supply costs had doubled since the false flag covid bs.
    Locally, it's showing in the businesses I frequent.
    Chicken tenders, the size of your thumb, for 3 of us @ lunch, is now over $30! [2 drink water, I have ice tea]. And, that doesn't include the tip.
    Yesterday, a SMALL chef salad/tea, $10+ the tip.
    The restaurant owner just put up a sign, "All menu prices are raised $1.00". [This is the 3rd raise in 6 mo].
    One can be sure, that if Trump hadn't been screwed, this free money/no work crap, would NOT have happened.
    Injector inspector
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    USAF 60-64.
    The guys that brought you the Cuban missile crisis in living color!

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    This week the administration released their 10 year economic projections. GDP growth of 1.9% yearly over that time. Talk about trying for a self-fulfilling prophecy. They are trying to make that happen and are making no bones about even wanting to do better.

    When was the last time inflation was rampant? When Jimmy Carter was president. When was the last time we had multi-year GDP growth of 2% or less? When Obama was president. Biden's bunch is trying to be worse than either.

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