Quote:
Originally Posted by cfg83
GenKreton -
The 1973 oil embargo ushered in the Japanese econobox era, so I see this as more of the same. From my POV, the scary difference is that the USA was in much better economic shape to "weather the storm". For example, back then we were the largest creditor nation in the world. Today we're the largest debtor nation in the world
CarloSW2
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Back then we also had manufacturing inside the country. I have this nagging feeling the fact we can't produce a lot of essentials that we used to could bite us hard, too.