this post was submitted on 30 Dec 2025
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How much of this is good income and how much is lower cost of living? Housing is by far my largest expense compared to everything else combined, and mostly because there isn't much you can legally live in that costs less.
Here's what happened in a nutshell.
Lyndon Johnson wanted to win the Vietnam War quickly. He decided that he could knock the North out with one massive blow. That turned into a prolonged fight. To pay for the War LBJ kept printing money. In 1968, 'peace' candidate Nixon wins and doubles down on LBJ's plan; he prints money and buys many more bombs. This heats up the economy and creates inflation. It's noticeable, but not terrible. Then the Oil Boycott hits. Panic.
Jimmy Carter comes in and hires Paul Volker. Volker's plan works, but only after Carter is out.
Reagan comes in and he keeps Volker, but Reagan cuts taxes for the upper classes and keeps spending money. Worse, he deregulates the banks and lets them make all kinds of crazy loans. That house of cards falls in 1987.
Bush Sr. gets elected and keeps Reaganomics going. Back before he became Vice President, Bush called Reagan's plan 'voodoo economics.'
Things got a little better under Clinton, but then 9/11/2001 gave Bush Jr. the excuse to keep taxes low and spend trillions on the failed 'War On Terror.'