Prewar we had done to europe what china has recently done to us.
Panic of 1901, a U.S. economic recession that started a fight for financial control of the Northern Pacific Railway
Panic of 1907, a U.S. economic recession with bank failures
In 1913 we formed the federal reserve.
The 19-teens. Visions of Big government danced in their heads. Fiat currency catastrophe begins.
The USA becomes a world creditor because of the wars.
Depression of 1920-21, a U.S. economic recession following the end of WW1
Roaring 20’s give us Electrification and the Automobile which are the primary drivers of the 20th century.
Wall Street Crash of 1929 and Great Depression (1929–1939) the worst depression of modern history
1930’s the Lost Decade of the Great Depression.
FDR’s failures at socialism, that end up without result.
WW1 and WW2 were financed by high taxation. Restores the economy.
Big government at home, becomes big government worldwide as the USA tries to ‘teach the world a lesson’. See the pattern yet?
We survived WW2 but the industrialized world was trashed, and the developing world was taking on communism (effectively slave labor).
1950’s were a quiet boom, the height of fashion, family, masculinity and mass migration into home ownership and the middle class.
By 1960 it was clear communism couldn’t function. This led to intellectual postmodernism (what we call political correctness – pseudoscience, pseudomathematics, sophistry and denialism)
By the mid 1960’s the world had recovered.
In 1964 we implement the immigration act designed to flood the country with underclass labor that would drive down the price of labor, and destroy the american experiment of a nation ‘of people of character’ (meaning a middle class nation state).
The 1960’s ended the feeling of certainty. Why? The counter culture and media, and the assault on our civilization. Everything goes wrong here. Everything.
By 1970 it was clear that unions had run up costs during a period of recovery that could not be paid.
Nixon’s was in the right doing it wrong. He’s gone. Vietnam ends. Cold war is at its height.
In 1973 we had the oil crisis that crashed our economy. By the mid 70’s only a minority of college educated graduates would find jobs. Gasoline went from .25 a gallon to over $1.00
Secondary banking crisis of 1973–1975 in the UK
Latin American debt crisis (late 1970s, early 1980s) known as “lost decade”
The automotive industry collapsed, as it tried to convert from making poor quality, heavy cars, to those that could operate
By 1976 we understood that Johnson’s Great society project to imitate the soviets had failed and all we had done was destroy black families, the black middle class, and great vast ghettos in urban areas that would bankrupt our cities.
In 77 we had star wars and” something changed” – the tech revolution was starting. (I built my first computer).
In 1979 we had the second oil crisis. We were tired of ‘losing’ more and more year after year.
The seventies ended the postwar economy and with it the socialists and communists’ dreams.
In 1980 we elected reagan. He and thatcher ended the postwar social fantasy that soviet or social democratic economics were possible.
in 1980 and 1982 we had two recessions.
In the 1980s we had the savings and loan crisis.
Reagan’s strategy was to bankrupt the soviets and the chinese. It worked. It worked at the cost of debt.
Black Monday in 1987
1992 Soviet Collapse results in 1990’s peace dividend, and the roaring 90’s. client server peaks. Internet era starts, cell phone era starts.
Dot-com bubble (2000-2002) (US) and… wow.
Uncertainty returns. The 1980-2000 period like the teens and twenties, and like the 50’s is a high period for america.
2007-2009 Financial Crisis
2010’s the Lost Decade of World Financial Exhaustion.
Late 20-teens america begins ending the postwar order and returning to the world balance of powers, now that technology and power have been equilibrated by the rest of the world ‘catching up’ and americans ‘falling behind’.
Do I need to give a lesson to you on the economics of of the late 19th – early 21st century?
America was artificially wealthy for (a) conquering a continent, (b) buying the rest from napoleon for cheap, (c) selling it off to ethnic europeans (largely germans) who were genetically middle class and land- constrained (c) using fiat currency to finance the immigration of through the 20’s, (d) inheriting the british empire and replacing london as the world currency, (e) using our resources to fund the world’s recovery (f) and the war against world communism (g) and the war against world islamism that has replaced it.
But the world has caught up and we have immigrated the underclasses our ancestors sought to avoid -because they create demand for parasitic redistribution, and authoritarian government, because they are not genetically middle class.
We no longer have 400 years of northern european institutional, technological, knowledge, cultural and genetic advantage.
Meanwhile the destruction of the family, the substitution of INTEREST for TAXATION, and the decline in reproduction has pushed US IQ levels from 115 victorian era to 97 and soon we will fall off the cliff to third world IQ levels.
We are entering a century where the american standard of living will decline in parallel with the US Military and the use of the dollar as a reserve currency.
The world is going to equilibrate but that means we will be relatively poorer.
Just as the vast underclass population we allowed into the country becomes a majority, generates demand for a centrally planned state, and we follow south america into collapse.
And that’s before I get started on automation, changes to the labor force, and the problem of organizing people if the voluntary organization of production (markets, money, productivity, incentives)
So when you look at that chart outlined in red, you don’t knw what the fk you’re talking about.
Drop a few tech companies out of the economy – heck, just apple – and look for productivity gains.
They aren’t there.
Source date (UTC): 2019-12-25 19:37:00 UTC