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WTF Happened In 1971?
Posted by: space-time
Date: June 01, 2021 08:11PM
[wtfhappenedin1971.com]
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Re: WTF Happened In 1971?
Posted by: Steve G.
Date: June 01, 2021 08:46PM
Things were going great in 1969. Did something bad happen around that time??





Edited 1 time(s). Last edit at 06/01/2021 08:46PM by Steve G..
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Re: WTF Happened In 1971?
Posted by: DeusxMac
Date: June 01, 2021 09:25PM
According to Forbes Magazine:

“Ever since President Richard M. Nixon announced… on August 15, 1971, that the U.S. would no longer officially trade dollars for gold, we have been enjoying a new era of human history.”

“… the only period in which humanity has not consistently based its currency in metal, specifically gold…”

Enjoying not being the mot juste. Out of the gate, we got the 1970s, what with their stagflation, a real stock market performance worse than that of the 1930s, and a crisis of confidence such had never bedeviled the American people before.”
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Re: WTF Happened In 1971?
Posted by: RAMd®d
Date: June 02, 2021 04:31AM
[www.apple.com]





Your boos mean nothing to me, I've seen what you cheer for.

We are a government of laws, not men.

Everybody matters or nobody matters.

When a good man is hurt,
all who would be called good
must suffer with him.

You and I have memories longer than the road that stretches out ahead.

There is no safety for honest men except
by believing all possible evil of evil men.

We don’t do focus groups. They just ensure that you don’t offend anyone, and produce bland inoffensive products. —Sir Jonathan Ive

An armed society is a polite society.
And hope is a lousy defense.

You make me pull, I'll put you down.

I *love* SIGs. It's Glocks I hate.
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Re: WTF Happened In 1971?
Posted by: pdq
Date: June 02, 2021 08:16AM
Sorry. Not buyin it.

Among other reasons, the page is full of graphs that ought to be plotted on a logarithmic scale, or shown by percentage change, but instead are done on a simple linear scale, with a arrow added at 1971.

From wikipedia:



When you plot things that have an expected annual percentage increase (or even a non-zero target, like inflation), you’ll get a logarithmic curve that bends ever upward. But if you look at the annual rate (or plot against a log scale) you get straight lines if there’s not significant change.

There was greater inflation during the 70’s, but also during the 40’s and the teens (when we were still on a hard gold standard, IIRC). But very little since Volker squeezed it out by jacking the fed rate (albeit at the cost of a severe, double-dip recession) beginning around 1980.
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Re: WTF Happened In 1971?
Posted by: anonymouse1
Date: June 02, 2021 11:09AM
Decline in unionization, development of rightwing think-tanks.

Many other causes.
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Re: WTF Happened In 1971?
Posted by: JoeH
Date: June 02, 2021 12:00PM
Quote
anonymouse1
Decline in unionization, development of rightwing think-tanks.

Many other causes.

OPEC oil embargoes - 2 in the '70s, large number of baby boomers entered the work force, post-Viet Nam war debt, and so on....
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Re: WTF Happened In 1971?
Posted by: Z
Date: June 03, 2021 09:39AM
Quote
Wikipedia sez
NPR aired its first broadcast on April 20, 1971, covering United States Senate hearings on the ongoing Vietnam War in Southeast Asia. The afternoon drive-time newscast All Things Considered premiered on May 3, 1971, first hosted by Robert Conley. NPR was primarily a production and distribution organization until 1977, when it merged with the Association of Public Radio Stations. Morning Edition premiered on November 5, 1979, first hosted by Bob Edwards.
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