Well your profile on adam4adam says 49, so I'm guessing so where in your 60's, so you are old enough to know it was a RESESSION, that was caused by a destabilization of the global oil market do to political unrest of the middle east and south America partially because of Nixon intervention, and his tax cutting. For the wealthy and large corporations while still engaged in the Vietnam War he had escalated to southeast Asia, putting the US further in debt and unable to handle a global down turn. This was followed by Reagan who sold out the Americans being held hostage in Iran, but cutting a deal that they would jot be released till after he was sworn in, the raised taxes his first 3 years in office on the middle class, cutting social safety programs, and funding to education, exploding the national debt and causing the greatest foreclosure crisses in America leading to the rise in corporate farming where today less that 10% of farmers are family farms, an explosion of higher education student loans and the those born after 1975 to be the first generation to earn less then their parents. So instead of demeaning someone by calling them Young, you should learn your facts, or sit down, and read a book.