Loading ...There is only one big difference between 1970 and today. In 1970 ALL, each and every one of our consumer products were made here at home made. I got very pessimistic for the USA in general after 1975.
I saw the no money no prosperity future for the USA very clearly, when close friends and relatives gleefully started digesting imported products. One couple I know bought TWO 1976 Fiat Spiders. I told them, “what the HELL are you doing?” “You are doing just what they WANT you to do.” The rat bait was artificially cheap prices. The USA now has “bad spots” or “body rot” in various places.
Bottom line. All the troubles of today are because our country imported ten times more than we exported, and gradually we went broke. Literally a stealth self inflicted economic decline of the whole nation.
When we made everything here? Before 1970? There were zero problems. There was plenty of work and over time for everybody. After 1971? They dropped the dollar Gold peg. Dopey/Dollar dropped, oil and gasoline went way up, gas lines, then mathematically cheaper imports brought in to keep inflation numbers lower. (the excuse)
What a bunch of anti American banker traitors running the system. Before the de-peg the foreign countries took half our gold supply at $34 when it was worth $140. After 1971 they gave away our consumer product industries.
If you own any kind of retail store, or car lot, and get greedy, (after 1970) and you have a buying disease, and consistently buy more than you sell, eventually you end up with a lot of inventory, and no money. (2008) Called a trade deficit.
And so far the Yuan and Dollar peg in still intact. These bozos can’t help the US recover with that peg.