3 years ago in #hive-122315 by ura-soul
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Ah yes, another user @littleboy recently sent me a link to:
https://wtfhappenedin1971.com/
Some really incredible graphs from that period forward, makes you wonder...
Interesting, thanks. Assuming that this wasn't all caused by the popularity of flared trousers somehow, maybe Nixon's move to decouple the US Dollar from Gold has a relevance: https://history.state.gov/milestones/1969-1976/nixon-shock
There could be a correlation to bell bottoms, haha, I hadn't thought of that. Maybe someone should do a deep dive on that. But yeah, the decoupling from the gold standard certainly has had lasting effects on the economy. It's depressing to see wages have remained flat since the 70s, while the wealthy have seen their net worth increase dramatically.