Also in the seventies the US signed on to international IP adjudication which, in my own pet theory, had a much greater real impact to markets than just explicitly acknowledging the fiat nature of currency as had been implicitly implemented for DECADES at that time.
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Patent use and prosecution of those ârightsâ will have much more influence on the car industry (mfg in general) than convertibility. My opinion.
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I shoulda addedâŚâin particularâ, lol.
Oh, for sure. The rise of the middle class in places like Michigan are directly linked to the auto industry, who at the time were still making those massive gas guzzlers. But the oil crises were later in the decade. 1970 was peak oil production, if Iâm not mistaken and the Yom Kippur war was a couple years after that?
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Thatâs the basis of it yeah. They think ending the gold standard and allowing the government to print as much money as it wants had all kinds of unexpected ripple effects through not just the economy but society in general that show up in the charts. Worse than goldbugs though, these are cryptocurrency bros (which is why I said to ignore that part).
It did make me think though about the other stuff that happened within a couple of years of then; detente in the Cold War, Roe v. Wade and the E.R.A. and the increase of women in the workforce, the Pentagon Papers and pulling out of Vietnam, stagflation and the OPEC oil embargo, Fannie Mae and Freddie Mac and mortgage-backed securities, Sallie Mae for student loans, the first microprocessors, beginning of wage stagnation, war on drugs. Lots of stuff that changed the world and paved the way for Reaganomics and Thatcherism.
There was too much going on and there has been too much change to pin it all on going off the gold standard. It is interesting to think of that time as an inflection point for so many things though. Especially if you grew up later and that era in history class was basically just âThere was Vietnam and Watergate and then it was the 1980s.â Trying to find one root cause for a whole bunch of stuff and then spin out theories of how it couldâve caused all that stuff could naturally be fun. But actually looking into what all happened back then is more interesting, IMO. I didnât know how much had its roots right about then.
Totally unrelated, found out today that FICO and credit scores didnât even exist until 1989. Itâs that recent. I literally was playing Nintendo before credit scores existed. Thatâs a weird thought.
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Women were not allowed to get a credit card without a husbandâs signature until 1974. Makes sense that there would be concern about credit worthiness in the wake of that. /major eyeroll
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Yeah, shitâs not changed much.
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Some people like renting. It can also be argued that getting a mortgage just means switching landlords and taking on most of the landlord duties.
But it also shows how fucked up the credit rating system is, and how the system is designed to make sure you canât get out (bad credit? Spend more so you canât repair your credit).
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This is greatâŚ
Found on Neil Gaimanâs tumblr, which he got from Wil Wheaton, which came from the linkedâŚ
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The caption says that the poster was " a direct response to an anti-homeless poster campaign in Seattle a week earlier that used the headline: âSEE A TENT? REPORT ITâ
but the text contains two britishisms. âcheersâ, and âbogsâ.
Good sentiment though.
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And âwankerâ.
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Lest people think âwarâ is a hyperbole (I know, not around these parts), it literally does kill people.
Private industry is only more efficient if your sole measuring stick is $$ to shareholders. And sometimes not even then.
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My disdain of the South involves white redneck assholes, rich or poor.
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Is this the proper place to post this?
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I think so.
How 'bout the answer âan abrupt movement of the bowelsâ?
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I live in the south.
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I know, youâre a Peach! (truly you are) And I know for a fact youâre not one of those people that I mentioned.
Maybe itâs because I just got done reading âNarrative of the Life of Frederick Douglassâ.
But for the colonizers to blame the humans they brought over for the problems going on in the SouthâŚwow. Just wow.
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So many willing to write off those with no power while refusing to take action against those with.
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