I was unaware of just how rough the economy was during the mid to late 70's when I was in high school and just got my license,until I watched the shows on the History channel this past week about the major car manufacturers ,and they showed how production had fallen off dramatically,as Honda,Toyota,Subaru and other Japanese vehicles starting taking over sales...
They showed how many workers were laid off or became unemployed in the industry,and how they were caught unprepared for the transition to smaller vehicles,and the many failed attempts to produce a car to compete with the overseas companies--the Pinto,The Vega,Chevette,and Citation were all pretty much dismal failures...
They also showed the two oil embargo's and the impact they had on the economy--that much I remember--not being able to buy gas unless you had less than 1/4 tank,or had to buy it on odd or even days,going by your license plate number..(that was when I learned how to hook up a toggle switch to make my gas gauge read empty as desired!)...
Looking back,I guess my parents were lucky to be able to keep the house they had bought in 1971,and move to a bigger lot with a brand new house in 1977...but back then,4 acres of land with a brand new home "only" cost 55,000 dollars..
