I’d argue that no matter how pretty the Reagan recovery looked on paper

Posted on August 31, 2026 at 12:29:00 PM by ny1995 (edited August 31, 2026 at 12:30:01 PM)

We actually never recovered. That the divergence of poor and rich in this country sped up in the late 70s with the pending pandemic complies crisis, and the recovery is much more real for those above a certain threshold than for those below it
Obviously , life is better for even the poor in this economy than 45 years ago, but the trajectory reversed

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In 1982 unemployment was over 10% and a 30 year mortgage was 16%. The Dow traded at 4x earnings. - By Alpo August 31, 2026 at 12:24:21 PM
- 1979-82 saw worse conditions but solutions were easier. We've been digging the same economic ditch for 25 years. - By ftb August 31, 2026 at 01:05:37 PM
- Well, at least Carter and Reagan weren't fascists trying to break up NATO, etc. Nfm - By Cutter August 31, 2026 at 12:51:48 PM
  - Man, fuck Ronald Reagan.* - By Ev August 31, 2026 at 01:41:24 PM
  - Reagan was AOC on Immigration**** - By Cincywolve August 31, 2026 at 01:01:35 PM
    - Today's Republican Party is unrecognizable from its 1980s variant nfm - By Cutter August 31, 2026 at 01:08:42 PM
      - Different in some ways, but not unrecognizable. Upward wealth redistribution, dismantling/privatization of social programs and education, misogyny, anti-black racism, homophobia, religious extremism, and enthusiasm for mass killing of brown people abroad have been pretty consistent.* - By Ev August 31, 2026 at 01:28:22 PM
- Bought an old renovated farmhouse 3 blocks from Lake Michigan at 15% on a 30 yr - By tem August 31, 2026 at 12:48:55 PM
  - ...and you got to see The Police with me that Summer in Charlevoix * - By Spirit August 31, 2026 at 12:52:03 PM
    - My parents were at that show as well, seemed pretty legendary* - By Daytripper August 31, 2026 at 12:56:04 PM
      - had I known they were going, i could have gotten them better seats* - By tem August 31, 2026 at 01:52:48 PM
- It was bleak. I was laid off and out of work for about 6 weeks...the A&P near me was going out of business so I stocked up on discounted groceries... - By ajs August 31, 2026 at 12:39:59 PM
- Was the age of the median homebuyer 42 years old? Was the age of the median homebuyer over 60 years old? (nm) - By suede August 31, 2026 at 12:33:20 PM
  - Buying a house at double digit rates when a home cost 3 x median household income is much better than buying a house vs 6.5% at 5x median household income. * - By crumbs August 31, 2026 at 12:38:18 PM
- Shit is getting worse every day* - By Poster P August 31, 2026 at 12:31:35 PM
- And Volker broke inflation. * - By crumbs August 31, 2026 at 12:31:12 PM
- We were in the process of buying a home in Mission Viego circa 1978. When the mortgage rate hit 17% we could not qualify anymore. Two years later, we moved to Arizona for more affordable housing. * - By you-of-m August 31, 2026 at 12:30:51 PM
- I’d argue that no matter how pretty the Reagan recovery looked on paper - By ny1995 August 31, 2026 at 12:29:00 PM
  - The Oil Shock of 1973 is where median income stagnated. - By GritsGoBlue August 31, 2026 at 12:36:45 PM
    - Yep. Income inequality and loss of industry is at Reagan's feet. Voodoo economics til this day. The pain of trickle down.* - By bluejohn August 31, 2026 at 01:27:37 PM
      - Loss of industry started in the 70's. By the 80's cities like Youngstown and Gary were already fucked.* - By Alpo August 31, 2026 at 01:45:42 PM
    - Mid 70s, okay. It basically what I was thinking. - By ny1995 August 31, 2026 at 01:16:27 PM
- Couldn't find a Summer job in Ann Arbor so I worked on Mackinac Island that year (m) - By Spirit August 31, 2026 at 12:28:03 PM
  - Median home prices in Seattle burbs $75k*** - By Cincywolve August 31, 2026 at 12:30:46 PM
    - and starting salaries out of college were probably under 15k for most* - By Rich August 31, 2026 at 02:25:32 PM
    - A $60,000 30-year mortgage at 16% was $807. In today's dollars that is about $2,800/month.* - By Alpo August 31, 2026 at 12:59:22 PM
      - Were folks in the 1980s not allowed to refinance their homes? (nm) - By suede August 31, 2026 at 01:04:29 PM
        
        Of course! The 40 year secular bull in rates is what drove real estate prices higher over the ensuing decades. - By Alpo August 31, 2026 at 01:08:49 PM
        
        …you see the problem this created, right? (nm) - By suede August 31, 2026 at 01:13:48 PM
        
        Of course.* - By Alpo August 31, 2026 at 01:19:39 PM
    - Gas was $1.30 per gallon in 1982. That's $4.50 in 2026 dollars * - By Spirit August 31, 2026 at 12:54:29 PM
- apple cup week, lock in broski* - By Daytripper August 31, 2026 at 12:27:55 PM

The Victors

I’d argue that no matter how pretty the Reagan recovery looked on paper