Something not talked about enough is how the year 1971 broke the US economy forever
Here are 20 fascinating charts to show you what I mean
1. Productivity has skyrocketed while salaries have not moved at nearly the same pace.
2. Wealth inequality has significantly worsened.
Income gains across the economy is now mostly consolidated amongst the top 5%
Income gains across the economy is now mostly consolidated amongst the top 5%
3. Wages as a portion of the economy has steadily declined since then
4. Wealth has become overly concentrated to the top 1%
5. Progress has stalled massively for under-represented communities
6. Dual income families have been on the rise
7. Inflation has skyrocketed, as displayed by the price of 1 can of Campbell's soup
8. Cumulative inflation has gone through the roof.
Not to mention, this chart doesn't even take into account all the money printing since 2020
Not to mention, this chart doesn't even take into account all the money printing since 2020
9. Home prices have gone up more than ever before, despite stagnant incomes
10. Millennials and Gen Z have had to put a pause on most of their life plans in order to afford a home
11. Adjusting prices for inflation only really became common after 1971
12. More currencies have collapsed in modern age today than ever before in history
13. Every currency around the world has de-valued vs gold.
Faster than every before.
Faster than every before.
14. Government debt has gone through the roof.
Governments now borrow more than ever before to finance their country
Governments now borrow more than ever before to finance their country
15. The U.S. mostly stopped operating at a surplus after 1971
16. P/E (price to equity) ratios have moved up
17. Hours of work required to buy the S&P has similarly moved up, making income inequality even worse
18. Family savings rate in the U.S. have collapsed ever since
19. Trade has become off-balance
20. The economy has become the deciding factor for our presidential elections
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