4 ms·

What happened half a century ago?

by tus666 5y ago

glial 5y ago
Watergate and high inflation?
deleted 5y ago
[deleted]
AnimalMuppet 5y ago
Vietnam, plus economic stagnation, plus inflation. Plus a lot of social tension caused by Vietnam, changing mores, the economy no longer growing like it did post-WWII...
- vanusa 5y ago
  What AnimalMuppet said plus the slow-but-steady evisceration of the middle class through overseas outsourcing, the gig economy, predatory lending, and rising education + housing costs (start at various points in time since then). And the religious devotion that we are all expected to have to work, work, work (despite it buying us neither housing nor security nor peace of mind). Then throw in a failed imperial venture or two, with attendant suicide and drug addiction rates. Pandemic didn't help either.
jwond 5y ago
https://wtfhappenedin1971.com https://wtfhappenedin1971.com
- jayceedenton 5y ago
  Could someone please explain why this graph is not as problematic as it first appears: https://wtfhappenedin1971home.files.wordpress.com/2020/06/eifme9yu0ae8xnz.jpg https://wtfhappenedin1971home.files.wordpress.com/2020/06/ei... ?
  - sb057 5y ago
    1) Compressed X-axis makes it look visually worse than most graphs. 2) A combination of inflation and nominal GDP growth has resulted in the effects not being as bad as it otherwise would be. (Modern Monetary Theory essentially argues all three are intrinsically linked.) 3) It actually is fairly problematic. Rising debt (especially since 2009) has largely been possible because of the Fed's near-continuous lowering of interest rates. Faced with the prospect of those rates rising, it's questionable where the finances will come from. https://thehill.com/opinion/finance/591226-can-our-nation-afford-higher-interest-rates-with-the-current-national-debt https://thehill.com/opinion/finance/591226-can-our-nation-af...
  - dwater 5y ago
    It has a linear scale not a log scale, and it's also not relative to anything, such as GDP. Here's an alternative that shows debt relative to GDP: https://en.wikipedia.org/wiki/File:Public_debt_percent_of_GDP.pdf https://en.wikipedia.org/wiki/File:Public_debt_percent_of_GD...
    - jayceedenton 5y ago
      Great point. This indicates the real change happened in 1917.
jb1991 5y ago
The start of this “study”.
rgbrenner 5y ago
The survey question started in 1972.

What happened half a century ago?

by tus666 5y ago

What happened half a century ago?

glial 5y ago

Watergate and high inflation?

deleted 5y ago

[deleted]

AnimalMuppet 5y ago

Vietnam, plus economic stagnation, plus inflation. Plus a lot of social tension caused by Vietnam, changing mores, the economy no longer growing like it did post-WWII...

vanusa 5y ago
What AnimalMuppet said plus the slow-but-steady evisceration of the middle class through overseas outsourcing, the gig economy, predatory lending, and rising education + housing costs (start at various points in time since then). And the religious devotion that we are all expected to have to work, work, work (despite it buying us neither housing nor security nor peace of mind). Then throw in a failed imperial venture or two, with attendant suicide and drug addiction rates. Pandemic didn't help either.

jwond 5y ago

https://wtfhappenedin1971.com https://wtfhappenedin1971.com

jayceedenton 5y ago
Could someone please explain why this graph is not as problematic as it first appears: https://wtfhappenedin1971home.files.wordpress.com/2020/06/eifme9yu0ae8xnz.jpg https://wtfhappenedin1971home.files.wordpress.com/2020/06/ei... ?
- sb057 5y ago
  1) Compressed X-axis makes it look visually worse than most graphs. 2) A combination of inflation and nominal GDP growth has resulted in the effects not being as bad as it otherwise would be. (Modern Monetary Theory essentially argues all three are intrinsically linked.) 3) It actually is fairly problematic. Rising debt (especially since 2009) has largely been possible because of the Fed's near-continuous lowering of interest rates. Faced with the prospect of those rates rising, it's questionable where the finances will come from. https://thehill.com/opinion/finance/591226-can-our-nation-afford-higher-interest-rates-with-the-current-national-debt https://thehill.com/opinion/finance/591226-can-our-nation-af...
- dwater 5y ago
  It has a linear scale not a log scale, and it's also not relative to anything, such as GDP. Here's an alternative that shows debt relative to GDP: https://en.wikipedia.org/wiki/File:Public_debt_percent_of_GDP.pdf https://en.wikipedia.org/wiki/File:Public_debt_percent_of_GD...
  - jayceedenton 5y ago
    Great point. This indicates the real change happened in 1917.

jb1991 5y ago

The start of this “study”.

rgbrenner 5y ago

The survey question started in 1972.