What were the ups and downs of the economy in the 1960s?

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The 1960's were mostly good times for American's in an economic sense.  Business profits reached record levels, small business start ups had never been greater and family incomes were increasing the entire decade.  The United States was leading the world in technology, exports and government spending.  The spending of the government in Vietnam and the Space race was sparking the economy but it did lead to longer term problems.  While family incomes were rising, the number of people living in poverty was rising also.  By the end of the 1960's trouble was looming.  Competition from foreign manufacturing like Japan and Germany would change the game, and inflation would be a problem.

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