375
The US has lost faith in the American dream. Is this the end of the country as we know it?
(www.theguardian.com)
this post was submitted on 10 Nov 2024
375 points (97.0% liked)
News
35703 readers
2863 users here now
Welcome to the News community!
Rules:
1. Be civil
Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.
2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.
Obvious biased sources will be removed at the mods’ discretion. Supporting links can be added in comments or posted separately but not to the post body. Sources may be checked for reliability using Wikipedia, MBFC, AdFontes, GroundNews, etc.
3. No bots, spam or self-promotion.
Only approved bots, which follow the guidelines for bots set by the instance, are allowed.
4. Post titles should be the same as the article used as source. Clickbait titles may be removed.
Posts which titles don’t match the source may be removed. If the site changed their headline, we may ask you to update the post title. Clickbait titles use hyperbolic language and do not accurately describe the article content. When necessary, post titles may be edited, clearly marked with [brackets], but may never be used to editorialize or comment on the content.
5. Only recent news is allowed.
Posts must be news from the most recent 30 days.
6. All posts must be news articles.
No opinion pieces, Listicles, editorials, videos, blogs, press releases, or celebrity gossip will be allowed. All posts will be judged on a case-by-case basis. Mods may use discretion to pre-approve videos or press releases from highly credible sources that provide unique, newsworthy content not available or possible in another format.
7. No duplicate posts.
If an article has already been posted, it will be removed. Different articles reporting on the same subject are permitted. If the post that matches your post is very old, we refer you to rule 5.
8. Misinformation is prohibited.
Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.
9. No link shorteners or news aggregators.
All posts must link to original article sources. You may include archival links in the post description. News aggregators such as Yahoo, Google, Hacker News, etc. should be avoided in favor of the original source link. Newswire services such as AP, Reuters, or AFP, are frequently republished and may be shared from other credible sources.
10. Don't copy entire article in your post body
For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.
founded 2 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Here's a very brief explanation of what happened.
In 1960 minimum wage was $1.00/hour and the price of the average US home was $11,000.00 A popular tour guide was called "Europe on $5.00 A Day" [over the years they did specific cities like Paris or Rome or London...]
In 1964 LBJ decides that he can win the War in Vietnam with a massive buildup and increased bombings. He prints paper money to pay for it, because he doesn't want to raise taxes. The plan is a miserable failure and protests force LBJ to step aside. In 1968 we elect 'peace candidate' Nixon [who sabotaged the Paris Peace Talks]
Nixon kept LBJ's plan and increased spending. He knew the War was unwinnable but thought he could kick the problem down the road and let the 1976 President deal with 'losing' the war.
By 1976 inflation was a major problem, not helped by the Arab Oil Boycott that tripled the price of gas overnight. All those cool loft buildings you see in places like Manhattan used to be small factories making things like purses, clothing, toys etc etc. The owners moved the businesses to the US south where there were fewer Unions.
Jimmy Carter hired a man named Paul Volker to deal with inflation. Carter got voted out before the Volker plan could kick in, so Reagan got the credit for Carter's ideas.
Reagan's own Veep, George HW Bush called the Reaganomics trickle down "voo doo economics" until Reagan offered him the #2 spot on his ticket.
In 1968, when Nixon started waging War with paper money, "middle class" was one Union job paying for a family of four with a nice savings account. In those days, $1 million was still considered a vast fortune. By 1992, when Bush Sr. was finished, middle class was two incomes to run the house and $1 million was what a rich guy paid for a party.
And you're leaving out so much (just like I will)... While all of this is going on, Nixon jumps in bed with Kaiser Permanente to convert all health-care into a for-profit enterprise. All of the unions are demonized and bastardized. Now you have the majority of the people in the US vulnerable and afraid where they can be completely controlled. Simultaneously, you blame everything that is happening on public education so that you have generation after generation of stupid people who are even easier to scare and manipulate and who will no longer believe the actual truth-tellers.
Like I said, very brief...
That almost sounds like you are blaming LBJ. Nixon was the one who caused the 1970 economic disaster that led to everything after. He ended the gold Standard and gave unfettered power to banks. Inflation was the goal as inflation directly benefitted real estate. The owner class became obscenely rich quickly, and it never stopped.
LBJ thought he could win Vietnam with a single bold stroke. Nixon knew the War was unwinnable, but once the US forces were bogged down he kept redoubling down. LBJ made a terrible mistake, but it was Nixon who really screwed things up.