Economic Changes Since 1971

What the heck happened in 1971? Productivity and hourly wages

always used to rise up together, but then in 1971, something strange

happened. Wages have stagnated while productivity continues to go

up. And it gets weirder. The price of a Campbell's Soup can

was 10 cents for the

longest time, but since 1971, the price has skyrocketed.

Before 1971, it took you around two years to save for a

house, but

now it takes seven. The top 1% of earners have continued to

see their

income grow since 1971, but the bottom 90% has not.

And people are getting married later, too.

In 1971, the average age to get married

was around 23, but

now it's closer to 30. And just look how the American diet has

changed

since 1971. Way less beef and potatoes and way more corn and

chicken. This one's crazy. Look at the global production of vegetable

oil since

1971. Obesity in young children was around 5% in

1971, but now it's over 20%. Even the number of prisoners

has skyrocketed since 1971. Since 1971, the US

national debt has gone completely vertical.

Same with healthcare costs, and oddly enough,

we've had a massive growth of

administrators while the amount of physicians has not gone up.

And look how many countries have had a banking crisis since 1971.

So what happened in 1971 to cause this?

In 1971, President Nixon ended the gold standard,

which meant

the US dollar was no longer backed by gold, and since then, things

have gotten a lot worse. So what do you think of all this?

And don't even get me started on shrinkflation.