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April 8, 2025,
Virtually every generation has to come to terms with it, since it doesn’t just affect the economy, it shakes it like a 10.0 magnitude earthquake.
In the 1970’s, it was the oil crisis.
The 1970s energy crisis occurred when the Western world, particularly the United States, Canada, Western Europe, Australia, and New Zealand, faced substantial petroleum shortages as well as elevated prices.
We were there in the 1970’s and this issue was massively impacting, right down to the average man.
The two worst crises of this period were the 1973 oil crisis and the 1979 energy crisis, when, the Yom Kippur War and the Iranian Revolution triggered interruptions in Middle Eastern oil exports.
The crisis began to escalate as petroleum production in the United States and some other parts of the world peaked in the late 1960s and early 1970s.
The oil crises prompted the first shift towards energy-saving technologies. It also prompted unheard of long gas lines.
The surging price of a college education sounded alarm bells for parents across the country and it began in earnest in the early 1980s. Some of us can remember going to a community college at little cost and then transferring to a state college at a modestly higher rate.
Things have really changed.
Financial issues facing students in the United States include the rising cost of tuition, as well as the other necessities, such as room and board, textbook and course work costs, personal expenses, and transportation.
It all ads up.
After adjusting for inflation, average published tuition at public 4-year, in-state and private non-profit universities had increased by 178% and 98%, respectively, from the 1990–91 school year to 2017–18.
Net Price, which is tuition minus aid received, had also grown, but to a much smaller degree, as most universities have increased their “discount rate” by offering more in student aid.
Still, after adjusting for inflation, average net price at public and private universities has increased by 77% and 17%, respectively, over the same time frame.
Forty-two percent of parents revealed that paying their children’s student loans or funding their tuition made saving money very difficult, according to a survey conducted in 2023.
Paying for college can hurt retirement outcomes for parents of college students. In a Barron’s article titled “How Your Kids Can Ruin Your Retirement — and How to Make Sure They Don’t”, Reshma Kapadia offers advice to parents on how they can ensure that higher education for their children does not result in diminished retirement quality.
Quite a challenge.
Another huge generational challenge is the cost of housing.
So much is about practicality and, to a great degree, emotion.
Housing as shelter is one of the “basic needs” of humans, offering protection against the elements. It also provides a place of privacy away from the public eye where daily activities can take place.
Homeowners often have personal attachment to a house, making it a home. In many ways, it defines who they are as a person. A home’s location, style and access to schools, parks, and other amenities can align a household to a greater community to reinforce cultural or religious bonds.
Social status too.
Housing is also important to developers, builders, lenders, realtors, investors, architects, and other specialized professions and trades. These groups view housing as a business venture for financial gain.
In terms of housing, this might place things in perspective as we use California as a barometer.
According to the team at Newsweek, “average house prices have also risen in California. According to CAR, the statewide median home price now stands at $829,060, reflecting a 1.2 percent drop from January but a 2.8 percent year-over-year increase. Zillow puts the average California home value at $784,840, up 3.0 percent over the past year.”
Can the average person afford that?
Can the average person afford tariffs?
A tariff is a duty tax typically imposed by the government of a country.
In an ideal world, besides being a source of revenue, import duties can also be a form of regulation of foreign trade and policy that burden foreign products to encourage or safeguard domestic industry.
Protective tariffs are among the most widely used instruments of protectionism, along with import quotas and export quotas and other non-tariff barriers to trade.
Sounds complicated.
There appears to be near unanimous consensus among economists that tariffs are self-defeating and have a negative effect on economic growth and economic welfare, while free trade and the reduction of trade barriers has a positive effect on economic growth.
The theory is that the best products should win over an inferior one that just happens to be a nationalistic one.
The economic burden of tariffs falls on the importer, the exporter, and the consumer.
Often intended to protect specific industries, tariffs can end up backfiring and harming the industries they were intended to protect through rising input costs and retaliatory tariffs.
Look at what is happening to the stock market.
As reported by the global news leader CNN, on April 6, 2025, “US stock futures plunged Sunday evening after two sessions of sell-offs that wiped away over $5.4 trillion in market value. Stocks were set to open sharply lower Monday, putting the S&P 500 on the precipice of a bear market — a decline of 20% from its peak.”
That is terrifying.
We know some who have all of their money invested in the stock market.
The heavily watched news and information source CNBC added, “The Dow posted back-to-back losses of more than 1,500 points for the first time ever, including a 2,231-point shellacking on Friday. The Nasdaq Composite entered a bear market Friday — down 22% from its record — after losses on Thursday and Friday of nearly 6% apiece.”
Shocking.
Each decade, each generation appears to find itself in some form of an economic crisis.
The biggest question one asks is, how do we survive it.
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OPENING PHOTO Pexels.com-Andrea-Piacquadio-photo-credit, Femcompetitor.com, grapplingstars.com, fciwomenswrestling.com, fcielitecompetitor.com, fciwomenswrestling2,com
https://en.wikipedia.org/wiki/1970s_energy_crisis
https://en.wikipedia.org/wiki/Higher_education_financing_issues_in_the_United_States
https://en.wikipedia.org/wiki/Housing_in_the_United_States
https://www.newsweek.com/california-housing-market-report-2025-february-2047160
https://en.wikipedia.org/wiki/Tariff
https://www.cnn.com/2025/04/06/business/stocks-futures-sunday-tariffs/index.html
https://www.cnbc.com/2025/04/06/stock-market-today-live-updates.html
https://www.fciwomenswrestling2.com
