Comment on Beyond fucked up
maplesaga@lemmy.world 4 days agoI think it was when the gold standard ended, and poverty was rampant as all the debt unwound. Black unemployment was 30%.
Comment on Beyond fucked up
maplesaga@lemmy.world 4 days agoI think it was when the gold standard ended, and poverty was rampant as all the debt unwound. Black unemployment was 30%.
hector@lemmy.today 4 days ago
You do realize, well several things, the inflation rate wasn’t as understated then as now. The Unemployment rate wasn’t as understated as now, they only count people receiving unemployment benefits as unemployed, it’s a worthless number.
But by 1980 the Business Roundtable of 1971’s long game to unmake liberal democracy and the new deal and resulting gains of unions and the middle class was in full swing, they cooperated together on what they agreed on, which included reducing us to poverty, and making a police state, to get to where we are heading now, fascism.
The first thing that I mentioned, the inflation rate, meant that at that point, we had not gone through a half century of inflation registered at 2-3 percent when in fact it was 5-8 percent, under the old unchanged standard, changed in bad faith by said illiberal forces. So a minimum wage job could still support a family, but by the 80s that was noticeably becoming less true.
maplesaga@lemmy.world 3 days ago
I knew about them excluding shelter from the CPI in the late 80s, as Volcker raising rates was raising shelter inflation in a feed back loop, and this untethered the CPI from reality. I’d not heard about them goosing the unemployment numbers.
hector@lemmy.today 2 days ago
I wish I had more sources handy for this, I have this though.
harpers.org/archive/2008/05/numbers-racket/