Quote:
Originally Posted by The Demon
We got off in 1971. The Gold standard works very well, even if we are low on gold deposits, we could use the Gold Cover Clause ratio. Growth with the gold standard is slow, but we don't have deficits.
|
My memory is weak on this but I believe that is also the time period that the government started getting all deficit spending happy. To quote Jeff Foxworthy
"OH A CHECK!?............I thought you wanted money"
If you will remember back to that time the US had the strongest middle class in the world, manufacturing, while suffering from quality issues, was extremely strong. No one said "Buy American" because we already were. The OPEC fucked us over, cheap but higher quality Japanese autos began their slow rise to dominance in the auto market and when the 80s hit Reaganomics hit with the philosophy that you could get fewer workers to do more work and cut down on your biggest expense (employees) and once that was in place Clinton signed NAFTA and BOOM, it was done, I believe that was the tipping point for the American economy. After those 2 events our hostory was already written
spaz