Can you tell me what it was like in the 1970's recession?

Kenny4315

Looking forward to a good old fashioned riot !!!!

Coming to a postal code near you.

Lifeisbutadream

SingleSue wrote: »

I remember the 70's as austere years but then my dad had had an accident and couldn't work for a few years...I know he found it hard to get employment again when he could work.

I remember the jumble sales as my parents could not afford to clothe us from the shops, something which has had a major effect on me as an adult as I now get panic attacks in busy areas - I started to think I was epileptic as it would always start with a burning smell (that I noticed anyway), then I would collapse...now I notice the heart rate increasing, the feeling of rising panic and then the funny smells so I can react and stop the collapsing. Don't worry, I have had it checked out to make sure it was nothing nasty!

I also remember the power cuts and how it appeared to us children as a normal part of the day - I have always kept a box of candles as an adult as a result of this.

I remember the miners strikes but as I was still a youngster, didn't really take a lot of notice.

The early 80's for us didn't seem to be too bad although now thinking about it, it must have impacted on my parents income as they could not afford to take us away on holiday and we stayed at my nans house in Rye for a holiday...it certainly didn't impact on me as I got my first part time job in '81 and felt like I was rolling in it!

The last recession was initially not felt by us, I had a good job on good money although I was made redundant twice but had no trouble securing further employment, usually at a higher salary. At first, we couldn't see what the problem was and why everyone was running around like headless panic chickens, I was in secure employment finally, my salary was excellent, no debts and some savings..we had a good life (I keep seeing similar people this time around - hence my warnings to some) but it did have a big impact on our house price and we ended up being one of the casualties after a series of unfortunate events as I found myself pregnant, something which was not supposed to be able to happen (I was told it was a million to one chance), my company was rather backward thinking when it came to mothers and I couldn't return to work after my rather short maternity leave (it was paltry back then). I ended up working two jobs, hubby took on cleaning at work but nothing could cover what I had been earning but we were surviving and paying the mortgage...until I got the triple whammy of going into kidney failure, developing pneumonia whilst also suffering severe post natel depression. I had to stop working (or the doctor said he would put me in the mental hospital as a danger to myself) and we lost the house.

Our mistake was having the mortgage based on my salary, hubbies salary was the minor one (he earnt way way less than I did) and although it could have been afforded on his plus part time earnings from myself, when I could no longer work, the whole house of cards came tumbling down.

So to others out there, if the main earner...just be cautious, the worse can happen. We thought we were being sensible basing on just the one salary multiple.

Thanks for sharing that Sue - im sorry to hear about that... however it has not helped my already soaring, stress related blood pressure!:o

Broken_hearted

SingleSue wrote: »

I remember the 70's as austere years but then my dad had had an accident and couldn't work for a few years...I know he found it hard to get employment again when he could work.

I remember the jumble sales as my parents could not afford to clothe us from the shops, something which has had a major effect on me as an adult as I now get panic attacks in busy areas - I started to think I was epileptic as it would always start with a burning smell (that I noticed anyway), then I would collapse...now I notice the heart rate increasing, the feeling of rising panic and then the funny smells so I can react and stop the collapsing. Don't worry, I have had it checked out to make sure it was nothing nasty!

I also remember the power cuts and how it appeared to us children as a normal part of the day - I have always kept a box of candles as an adult as a result of this.

I remember the miners strikes but as I was still a youngster, didn't really take a lot of notice.

The early 80's for us didn't seem to be too bad although now thinking about it, it must have impacted on my parents income as they could not afford to take us away on holiday and we stayed at my nans house in Rye for a holiday...it certainly didn't impact on me as I got my first part time job in '81 and felt like I was rolling in it!

The last recession was initially not felt by us, I had a good job on good money although I was made redundant twice but had no trouble securing further employment, usually at a higher salary. At first, we couldn't see what the problem was and why everyone was running around like headless panic chickens, I was in secure employment finally, my salary was excellent, no debts and some savings..we had a good life (I keep seeing similar people this time around - hence my warnings to some) but it did have a big impact on our house price and we ended up being one of the casualties after a series of unfortunate events as I found myself pregnant, something which was not supposed to be able to happen (I was told it was a million to one chance), my company was rather backward thinking when it came to mothers and I couldn't return to work after my rather short maternity leave (it was paltry back then). I ended up working two jobs, hubby took on cleaning at work but nothing could cover what I had been earning but we were surviving and paying the mortgage...until I got the triple whammy of going into kidney failure, developing pneumonia whilst also suffering severe post natel depression. I had to stop working (or the doctor said he would put me in the mental hospital as a danger to myself) and we lost the house.

Our mistake was having the mortgage based on my salary, hubbies salary was the minor one (he earnt way way less than I did) and although it could have been afforded on his plus part time earnings from myself, when I could no longer work, the whole house of cards came tumbling down.

So to others out there, if the main earner...just be cautious, the worse can happen. We thought we were being sensible basing on just the one salary multiple.

Thats going to peoples downfall this time around, they estimated the payments they could afford to highly. A lot of people now barely break even on two wages let alone one.

izzwizz_2

Dad worked for Fords and was constantly laid off when Dagenham went on strike. No pay when he was laid off and we struggled. I can remember hiding behind the sofa when the milkman came for his money.
Power cuts were common. Mum made most of our clothes (she used to sew labels into them so the other kids at school wouldn't tease us). Bread shortages (shelves would empty on the slightest rumour). Lived on mince.

SingleSue

Broken_hearted wrote: »

Thats going to peoples downfall this time around, they estimated the payments they could afford to highly. A lot of people now barely break even on two wages let alone one.

Too true....we didn't push ourselves at all with the mortgage as it only took not quite a third of my monthly salary and we still had hubbies money on top of that plus the very often available overtime I could work and frequently did, which made the mortgage payment to not even a quarter of my monthly pay.

We just didn't counter in the possibility of a miracle happening and us having children - hence why the mortgage was based on my salary, we weren't supposed to be able to have the little tykes.

lil'H

thank you everyone for sharing all your stories. I remember my dad being made redundent in the 80's recession, though he found work again before it really affected us. Amazing to hear just how bad things got in the 70s for some people.

iltisman

I was in the civil service in the seventies the recession was something that affected other people who had made poor career choices.

amcluesent

>Amazing to hear just how bad things got in the 70s for some people.<

It's widely believed that around 1973 the Army top-brass were discussing whether a coup d'etat might be necessary as civil order collapsed under the useless government of the day.

Arguably, Britain under the Generals would have been better than 'Sunny' Jim Callaghan et al.

leveller2911

iltisman wrote: »

I was in the civil service in the seventies the recession was something that affected other people who had made poor career choices.

Not sure how to read that, are you saying we should have been a nation of "civil servants"??...

So if the seventies recession "hit you hard" it was because of poor career choice??.There were so many things that added to the 70,s recession, war,common market etc....or am I reading it wrong??:rotfl:

geoffky

PasturesNew wrote: »

Assuming 0% interest on it ... 50 years.


you should be using 240% just like Tassotti charges his customers in his loan shark bisiness....