CRUDE OIL forum: Arab Oil Embargo 1973-1974After 13 years online, Cubits.org is scheduled to be shut down. Please make sure you have the contact information for all your friends, and that you download whatever content you want from this site.
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|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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[Last edited Apr 23, 2011 3:38 PM CST]
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