CRUDE OIL forum: Arab Oil Embargo 1973-1974

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Apr 23, 2011 3:36 PM CST
Name: Susie
Phoenix AZ
I remember these days so well. Everything seemed to be falling apart. I was trying to buy a house and the interest rates were going up so fast and so high (19%) it was really difficult to get the bank to respond to a loan application much less agree to a loan. I was successful and bought my first home in 1974. 13% interest. Toilet paper shortage, Kerr canning products shortages, gas shortages, beef shortages, sugar shortages. How in the world did we survive? I bought a meat grinder... good lamb was cheaper than beef. Remember one day driving past my gas station to work... when I passed the station at end of day gas was 20 cents a gallon more.
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"There are only two ways to live your life. One is as though nothing is a miracle. The other is as though everything is a miracle." --Albert Einstein
[Last edited Apr 23, 2011 3:38 PM CST]
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