[OAC_Sparky]

I'm not trying to be a "the sky is falling" doomsday guy, I'm only pointing out historical trends. In the early '70s we were in a recession, a lot of our parents (yes, even I was too young) had to deal with it.

http://en.wikipedia.org/wiki/List_of_recessions

Look at the comparisons:
(note: this is off the top of my head. don't b!tch if I'm off by a year or so. I was like 6 in 1972)

1977: Canadian dollar high against the USD.
2007: Canadian dollar high against the USD.

1973: Yom Kippur War (US-backed Israel vs Egypt/Syrian led Arab coalition).
2007: Middle East War in Iraq.

1973: All-time oil price spike (Energy crisis because US backed Israel above.)
2007: All-time high oil price spike. (In part due to Middle East instability)

1973: US government swimming in debt due to the Vietnam War and the YK war.
2007: US government swimming in debt due to spending on the Iraq War(s)

1973: Huge rise in inflation, fueled by (1) foreign debt (2) rising oil prices (3) relative drop in US currency vs world market.
2007: Upward pressure on US inflation due to (1) foreign debt (2) rising oil prices (3) relative drop in US currency vs world market.

1973 and 1977: Very steep rise in interest rates 2-3x what the current rates were.
2008:......?



Hey, I'm not saying don't live your life, I'm saying "Be Prepared". Sooner or later, Aka's grandpa will be right. :blink: