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WTF happened in 1971? (Answer: US went off the gold standard and allowed unlimited money-printing)
invite response
2021 Sep 20, 10:21am 12,115 views 73 comments
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63
richwicks
2023 Jul 18, 11:22am
richwicks
2023 Jul 18, 11:22am
AmericanKulak says
Taiwan is NOT about to be taken over, at least not by force.
Taiwan has to DEFINITELY be cautious about reintegration with the mainland, but they are going to do it.
Patrick says
Are companies realizing that they can no longer count on cheap labor from China after experiencing supply chain collapse during the plandemic?
I wonder if they know Taiwan is about to be taken over.
Taiwan is NOT about to be taken over, at least not by force.
Taiwan has to DEFINITELY be cautious about reintegration with the mainland, but they are going to do it.
64
richwicks
2023 Jul 18, 11:25am
richwicks
2023 Jul 18, 11:25am
Misc says
I haven't seen a good US government investment since GM, and I'm not even certain that was a good investment. Probably the last one was the loan to Lee Iacocca to save Chrysler. Iococca paid it back. He also saved IBM in the early 1990s. There's few businessmen I admire, most of them are just government cocksockers, Iacocca wasn't one of them.
In the future we will see if these government sponsored facilities are worthwhile or just a waste of taxpayer dollars (gifts to the politically connected).
I haven't seen a good US government investment since GM, and I'm not even certain that was a good investment. Probably the last one was the loan to Lee Iacocca to save Chrysler. Iococca paid it back. He also saved IBM in the early 1990s. There's few businessmen I admire, most of them are just government cocksockers, Iacocca wasn't one of them.
68
Patrick
2025 Mar 5, 1:46pm
Patrick
2025 Mar 5, 1:46pm
Ah: "the US went off the gold standard in 1971"
https://remnantchronicles.substack.com/p/fixing-the-fertility-crisis-in-one
https://remnantchronicles.substack.com/p/fixing-the-fertility-crisis-in-one
69
HeadSet
2025 Mar 5, 2:45pm
HeadSet
2025 Mar 5, 2:45pm
Patrick says
True but keep in mind that 1950s house was commonly a small 3-bedroom 1 bath with maybe a carport.
True but keep in mind that 1950s house was commonly a small 3-bedroom 1 bath with maybe a carport.
72
Patrick
2025 Mar 30, 7:50pm
Patrick
2025 Mar 30, 7:50pm
And it's only half true. The other half was outsourcing to China:
Insource low-wage labor from Mexico, and outsource manufacturing to Chinese low-wage labor.
It's all about screwing US workers so that business owners have higher profits.
Insource low-wage labor from Mexico, and outsource manufacturing to Chinese low-wage labor.
It's all about screwing US workers so that business owners have higher profits.
73
stereotomy
2025 Mar 31, 12:35pm
stereotomy
2025 Mar 31, 12:35pm
Ross Perot called it - the "Giant sucking sound" of American Industry and jobs happened. It's almost too late to correct it, and it will be very tough for those who don't own substantial assets.
It nevertheless must be done. There will be wailing and gnashing of teeth, but this time, instead of the South complaining, it'll be the 0.1 percenters. Good luck finding a large enough rent-a-riot Pantifa army to fight your war.
It nevertheless must be done. There will be wailing and gnashing of teeth, but this time, instead of the South complaining, it'll be the 0.1 percenters. Good luck finding a large enough rent-a-riot Pantifa army to fight your war.
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https://wtfhappenedin1971.com/
And many more excellent graphs there.
What happened in 1971 was that the Democratic party made a deal to betray working people and unions, and instead divide the public by race, sex, and gayness for the benefit of the oligarchy.
It was the year that Democrats starting working for Wall Street, and thus you see wages stagnate or fall while returns to capital (owners of stock) kept going up.
In 1972 Nixon went to China to work on the deal whereby all US manufacturing would be moved over there because they have such low wages, no worker rights, and no pollution controls. Very profitable for capital! Very bad for US workers.