It appears something big happened in 1971 that drove a big divergence in productivity & compensation (& therefore wealth inequality.) Anyone know of any big currency system changes that happened in '71?
If US wants to win trade war, gotta fix the USD system
via @jessefelder pic.twitter.com/dcxW4Obwfn
— Luke Gromen (@LukeGromen) February 25, 2019
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1971 was when the US went full fiat. “Full faith and credit of the US” paper or digits replaced Gold for balance of payments settlement. Treasury Secretary Connolly made his famous “it’s our currency but your problem” statement following Nixon’s declaration. A sad day indeed.
From colonial times until 1971 the inflation line is relatively level. In 1971 you can see the chart go vertical.
Further, as an excuse the government started blaming inflation on rising wages rather than the true cause, an increase in the “money” supply. Which when all is said and done is what immigration is about. It’s about suppressing wages and keeping people indebted. Cue “Under My Thumb” by the Rolling Stones.
My favorite example of disinformation was the Jerry Ford campaign to “Whip Inflation Now,” replete with “WIN” pins … Like what the hell was the public supposed to do to Whip Inflation?????????????????????????????????????????????????
What a shit-show that has been going on for decades??????
Shoobedoo, that was Carter. Gerry pardoned Nixon and had to hide his face in shame.
Surprised you didn’t mention Georgie’s plan to stave off a recession by encouraging folks to ‘go shopping’.
However, it was Reagan who took full advantage, and each successive POTUS progressively worse. Trump will be remembered as either a second George Washington, Benedict Arnold, or a dud.
Yep, almost a perfect correlation between that chart divergence and inflation taking off. Our fiat $$$ is killing us!
begins with G and ends with D
kissinger and nixon are traitors for their “opening” to the chi-comms
And 48 years later, Kissinger visits Trump immediately upon taking up residence in the seat at Pergamon, and Roger Stone, who was so ‘into’ Nixon that he had a tattoo of him put on his back, is now “in legal trouble” for supporting Trump !
annuit coeptis novus ordo seclorum- some people can’t see this deception if it slaps ’em in the face
Kissinger is the f*cking devil
How much did he give you for your soul, Shoobeedoo?
You misspelled the last word. Its not spelled d-e-v-i-l, it’s j-e-w. Please, get it right, words do have meaning, ok sarcasm off.(no, not really)
FRD began the process remember. HE stole all the gold from US citizens FIRST, then Nixon and company screwed over the rest of the world.
What else happened around that time? Oh, yeah, Japan. Japan began kicking US ass. Foreign competition came on line. The US had to become more competitive on cost and quality.
Hey Llpoh, want to know why we had to bring the Japs out of the stone age? This is what Japan was like in the 20’s, 30’s up til TPTB had the task of leveling much of that place so WE could give up our jobs to bring them up by their boot straps. I doubt any of the little zipperheads appreciate what boomers sacrificed, we (and our children and now grandchildren) are still giving up to the world to bring the pacific rim , and many other areas into the next era of human development. This was Japan before the war. We paid in federal$$$ and loss of personal income.
tell me bl,am i too smart or too dumb 4 this place?
the 1st 2-3 minutes i did everything i could to get the sound up b4 i finally remembered that they did not have talkies in 1919–
TRed- I always get downed for talking about Japan being backwards before WW2, It really was some stone age shit. The younger crowd believes that Japan has always been high tech and highly developed, not true.
Me thinks you are very smart. 🙂
BL – the single biggest thing that the US did to benefit Japan was to finance, almost entirely, its military. From just after WW2, until today, the US paid for Japan’s defence. Japan has spent around 1% of its GDP on defence over these 7 decades. If say it had spent even 3%, then its economy owuld have grown around 2% less per year EVERY year since 1945. If it had paid for its own defence, the Japanese economy would currently be under half its current size.
The US is massively stupid. It created its own economic competitors in both Europe and Japan, by helping rebuild its enemies, and then paying for their defence. It still goes on today. If I had been in charge, that would never have happened. Europe and Japan would still be crawling out of their bomb craters. All the shit the US is currently in would have been deferred for decades, perhaps even forever.
Stupid is as stupid does.
You must be part Brit….defence?
Oz spelling too.
:-)…
It’s about the Benjamins LLPOH. Mammon.
LL should know, he expatriated his, the ultimate irony.
So wait… 1971?
I was born into this shit???
22, OT, what gun range in the Manchester area do you recommend joining? Did a stint at Chester RGC a while back. What do you think of Kinnikum in Candia, since that is my home town? Can hear the soothing retorts up on my hill every so often. Wife is bugging me to go shooting and join a club. Guess I got a good one there!
Contact me on GB by searching Mk318. I’ll give you a free test drive at PFG. 600 acres and an easy drive. Maybe this Sunday? I’m off to bed. Sleepy.
Appreciate the offer. Gonna have to translate though. GB?
The biggest gun action site on the internet. Get an account and click “ask a question”.
Always be skeptical if a woman encourages you to do something fun. They will almost have some kind of nefarious motive. Do not say I did not warn you.
LL, I’ve been married to the woman for 33 years. Think I’m good.
Women are patient. She may be lulling you into a false sense of security. You have been warned!
Loopey- 🙂 33 years is very patient.