zlacker

>>gmays+(OP)
The chart is just another "wtf happened in 1971" moment.

https://wtfhappenedin1971.com/

What happened in 1971? The Nixon Shock, which is when the dollar stopped being convertible to gold after it became evident that the US did not have the gold it claimed to have.

>>29athr+U7
Sorry but it's a lot less conspirational than that. The early 70s is when the long post-war economic boom ended, and corporate profits globally began to contract for an extended period of time, long wave decline. Along with it came a longer term trend of declining take-home earning rights, a huge decline in unionization, waves of inflation followed by severe recessions, etc.

The gold standard stuff is hilariously reductionist.

>>cmrdpo+Ya
The Nixon Shock is the end of the Bretton Woods system (the post-war economic system) which is how "the post-war economic boom ended".

So that paragraph reads like "You are wrong because [essentially the same thing you said phrased differently]".

>>29athr+Nj
Nonsense, the boom didn't end because of the end of the gold standard, it was in decline long before that.

Sounds like cryptobros politics.

>>cmrdpo+wO
The real question here is: what causes what?

The US was living beyond its means throughout the entire time, subsidized by the other members of that system. The end of the Bretton Woods system affirmed that.

How it ended? by Nixon preventing a bank run on the system because he didn't have the equivalent gold for all the currency he issued.

The US was clever enough to use its economic advantage to invest in its military to a point in which that move could be tolerated by the rest of the countries.

Any further replies from you will be read out loud in chicken voice.

>>29athr+rd1
It's ok, I'm already reading your comments out loud in a mock Lyndon LaRouche voice, and it's hilarious.

>>cmrdpo+Ul1
Just so that you know, I did read that out loud in chicken voice.