Drudge Retort: The Other Side of the News
Monday, May 05, 2025

Looking at historic economic data can sometimes be a bit ... bleak ... Over the last 5 decades wages have been left behind by economic productivity, houses have gone from an essential good to a coveted investment, we are saving less money than ever before, prices for everyday goods have outpaced earnings,

The financial industry has become the largest sector in the economy, debt around the world has spiked to unsustainable levels, and inequality has broken new records ...

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"For the first time since the gilded age the top 0.1% in America controls more wealth than the bottom 90% COMBINED.

Elon Musk ALONE recently became the richest person in history, topping even the generous inflation adjusted estimates of John D Rockefeller in his prime ... although to be fair John D's prime lasted a lot longer than musks did ...

ANYWAY ... all of this data tells a concerning story of a world that is heading in a bad direction, a direction that we have seen end in catastrophe many times throughout history before.

But if you have keen eyes (or you just read the title of this video) you might have noticed that all of these alarming indicators all took a bad turn at around the same time ...

Soo what happened in 1971?"

;
It turns out that the early 80's were what directed and extended the monetary events of the early 70's.

#1 | Posted by Corky at 2025-05-05 07:40 PM | Reply

Soo what happened in 1971?"
;
It turns out that the early 80's were what directed and extended the monetary events of the early 70's.

Posted by Corky at 2025-05-05 07:40 PM | Reply

I was born

#2 | Posted by LauraMohr at 2025-05-05 07:41 PM | Reply

#2

I was in TX at the time! &*)

#3 | Posted by Corky at 2025-05-05 07:43 PM | Reply

1. The 80s directed the early 70s?

We got a time machine somewhere along the line and I missed it.

#4 | Posted by Dbt2 at 2025-05-05 07:49 PM | Reply

#4

My Wayback Editing machine is sometimes broken, but I stand by that awkward sentence, lol.

The monetary events concerning Nixon's actions on Gold in the early 70's were later directed, and their effects extended in the 80's, by Reagan's monetary actions based on those events.

#5 | Posted by Corky at 2025-05-05 08:00 PM | Reply

@#1 ... For the first time since the gilded age the top 0.1% in America controls more wealth than the bottom 90% COMBINED ...

Yeah, that seems to be the gist of the cited video.

But watching the first few minutes, I did not get the sense that the video's creator was coming to a conclusion for the question they asked, just rambling on and on ...

The graph of data shown as the video's ~cover page~ by youtube is interesting. I didn't see a source for the data of that chart, though.


#6 | Posted by LampLighter at 2025-05-05 08:02 PM | Reply

"The financial industry has become the largest sector in the economy, debt around the world has spiked to unsustainable levels, and inequality has broken new records"

Thanks, Capitalism!

#7 | Posted by snoofy at 2025-05-05 08:13 PM | Reply

#7 | Posted by snoofy

Capitalism enriched the world. It's bastard son Globalism was a race to the bottom.

#8 | Posted by HeliumRat at 2025-05-05 09:00 PM | Reply

#7 | Posted by snoofy
Capitalism enriched the world. It's bastard son Globalism was a race to the bottom.

#8 | Posted by HeliumRat

I don't think you know what Globalism is.

#9 | Posted by Sycophant at 2025-05-05 09:08 PM | Reply

- just rambling on and on ..

No, that's a Shrimpdick post.

The thread video, like most such info videos, has a Transcript link that open on the same page.

It's located under, 'More' below the video.

#10 | Posted by Corky at 2025-05-05 09:14 PM | Reply

@#10 ... It's located under, 'More' below the video. ...

I clicked on the Transcript link.

But nothing came up.

The video just started replaying.

I do watch many, many videos on youtube, but it's been a while since I have seen one behave as this one seems to behave.

Is there something about this video that the security software I have installed here seems to object to?

Possibly.

As I noted, I watch a lot of videos on youtube. Very few have had the result that I saw here.

imo, a garbage video.

And, as a suggestion, maybe you should look at upgrading your security software?



#11 | Posted by LampLighter at 2025-05-05 09:32 PM | Reply

The Transcript window opens fine in the upper rhand corner for me. I use several security programs, having been in the IT business all my adult life.

None of them are set to stop an internal yt vid popup from werking.

But hey, try this one if you like... it's about how Trump is succeeding with Make America Russia Again, by a Russian; it's about how the libs in Russia are now coping with Vlad's Z movement, not fighting it.

The same as here, almost.

www.youtube.com

#12 | Posted by Corky at 2025-05-05 09:58 PM | Reply

August 15, 1971 - President Richard Nixon announces that the United States will no longer convert dollars to gold at a fixed value, effectively ending the Bretton Woods system. He also imposes a 90-day freeze on wages, prices and rents.

en.wikipedia.org

#13 | Posted by ClownShack at 2025-05-05 10:04 PM | Reply | Newsworthy 1

The US stopped using the Gold Standard

#14 | Posted by silentwalker at 2025-05-05 10:13 PM | Reply

Gold is making a comeback because Trump is sabotaging the full faith and credit of the United States Government.

#15 | Posted by snoofy at 2025-05-05 10:15 PM | Reply

Ray is excited!

#16 | Posted by ClownShack at 2025-05-05 10:17 PM | Reply

I wonder if they buried Ray's Gold with him? I'm sure they buried that Bible he authored with him, lol. Maybe we should get some shovels and..... naw. Wouldn't be prudent.

#17 | Posted by Corky at 2025-05-05 10:35 PM | Reply

Maybe Trump will give Ray the last laugh. Wouldn't that be the drizzling Shhht???

#18 | Posted by LauraMohr at 2025-05-05 10:43 PM | Reply

@#13 ... August 15, 1971 - President Richard Nixon announces that the United States will no longer convert dollars to gold at a fixed value, effectively ending the Bretton Woods system. He also imposes a 90-day freeze on wages, prices and rents. ...

Finally, a comment that does not make me watch some droning video.

So, 1971 was the end of the gold standard?

Interesting.


#19 | Posted by LampLighter at 2025-05-05 11:18 PM | Reply

@#15 ... Gold is making a comeback because Trump is sabotaging the full faith and credit of the United States Government. ...

Yeah, it recently hit an all-time high, somewhere around $3,400 an ounce.

It has backed off that and Pres Trump as put his tail between his legs and retreated on his tariffs positions, though.

Interesting, also, Sec Bessent seemed to find the need to say at this week's Milken Conference that the US still remains the center of global investment.

Milken Crowd Warms Up to Tariffs While Condemning All the Chaos
www.livemint.com

... At times, the conference offered a split screen of confidence and concern.

On one side, Bessent emphasized that the US is in a strong negotiating position, remains the "premier destination" for international capital and will become an even more appealing environment for "investors like you."

But many Wall Street leaders painted a vivid picture of C-suite uncertainty. ...




#20 | Posted by LampLighter at 2025-05-05 11:27 PM | Reply

@#20

And, fwiw ...

Global Conference 2025
milkeninstitute.org

... The Milken Institute Global Conference brings together the world's brightest minds to address the most urgent challenges and unlock the most promising opportunities of our time. This premier event connects individuals with the capital and influence to drive change with experts and innovators transforming health, finance, business, technology, philanthropy, industry, and society.

In today's complex world, we face escalating geopolitical tensions, an intensifying climate crisis, economic inequality, public health challenges, and the rapid advancement of artificial intelligence. These forces are reshaping industries, governance, and the global workforce. The 28th annual Global Conference will unite our diverse, forward-thinking community to tackle these critical issues and explore solutions that pave the way for a more sustainable, equitable, and resilient future.

Join us to reflect on recent disruptions and innovations, and translate insights into meaningful actions to create healthy, prosperous lives for all. ...


#21 | Posted by LampLighter at 2025-05-05 11:30 PM | Reply

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