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|User Info||Amazon Makes Money Exploiting Honest Merchants; entered at 2017-11-24 22:58:33|
Registered: 2012-12-05 Huntsville, AL
Well, that was in 1978, about 18-21 months after President Carter took office. My best sources show inflation that year at 9% and the Fed Fund Rate at 10%, so that was a particularly awful time in this country.|
There was then all kinds of hysteria going on all over the place. When I took that teaching job my idea was to spend an entire teaching career in one place, one set of schools, building a fine instrumental music program, and walk away after 35-40 years with a good retirement. To stay in a place one must have a place to stay, so I looked at a couple of new houses being sold in the $28-$30K range (3 BR, 2 BA, 2-car garage, 2/3 acre of land). I talked to the banker, and he said (basically), "Son, you only earn $10,500 a year. You can't afford a $30,000 house."
Four years later I was no longer a teacher.
Meh--No great loss, either personally or to the profession.