Survival Along the Continental Divide by Jack Loeffler

Author:Jack Loeffler [Loeffler, Jack]
Language: eng
Format: epub
ISBN: 9780826344397
Barnesnoble:
Publisher: University of New Mexico Press
Published: 2008-06-16T00:00:00+00:00

I had sixteen or seventeen hundred dollars at the end of the war that my parents had in war bonds. I bought my first car in 1947 when I cashed in some of my war bonds. It was a little Ford. I think it cost twelve hundred dollars. That was my first big expenditure. I had to buy a car so my wife and I could go on our honeymoon. So the effects of the Depression—the way it developed personal values, the way it influenced your attitude toward money and how important it was to save—[were] built into the system. We’re now in 2006. People in this country don’t save anymore. They charge. They run their credit cards. The savings rate in 2005 dropped so low that you had to look at 1934–35, the depths of the Depression, for a savings rate that was comparable. Of course, there wasn’t much to save then. That shows how thrifty we had to be. Thrift was sort of built into the system. You didn’t buy anything you couldn’t afford.

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