THE ECONOMIC DOWNTURN CONTINUES. JOHN MILES HAS SEEN IT ALL BEFORE. Yes, we've got it bad with the credit crunch, but oldies like me remember late 1973 when the UK stock market lost no less than 70% of its value. It was a familiar story: collapsing property prices, trouble in the Middle East (the Yom Kippur war), and a four-fold increase in oil prices imposed by OPEC. Inflation was running at more than 8% yet petrol was just a few cents a liter! A temporary 50mph speed limit was introduced to save fuel, but the moves for a total ban on motor racing were shelved when it was pointed out that the whole UK race season only used about the same amount of fuel as a jumbo jet flying one way across the Atlantic. Motor racing was saved but for me it was time get a regular job.
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