« 6TH POPE Home | Email msg. | Reply to msg. | Post new | Board info. Previous | Home | Next

Re: World Superpowers Threw Their Cards on the Table This Week

By: Zimbler0 in 6TH POPE | Recommend this post (0)
Sat, 25 Feb 23 9:23 PM | 30 view(s)
Boardmark this board | 6th Edition Pope Board
Msg. 40484 of 58533
(This msg. is a reply to 40465 by Fiz)

Jump:
Jump to board:
Jump to msg. #

Fiz > The US went financially bankrupt in 1971, Zim, or close enough that only a deal with the devil stopped catastrophic and immediate public collapse. Do you remember when Nixon closed the gold window to the rest of the world? Its significance was mostly downplayed in the nightly news, but THAT WAS A FORMAL DECLARATION TO THE GOVERNMENTS AND BANKERS OF THE WORLD THAT THE US WAS INSOLVENT.


Was it? Or was it a realization that for the U.S. to maintain a 'gold standard' with the three horses of the apocalypse (Inflation, deficit spending, and the rest of the world NOT playing the same game) would have surely crushed America if we didn't withdraw form the 'gold standard'?

There is a lot of truth in what you typed . . .

But do realize that America did not have the 'material shortages' and rationing seen during WWII. America's grocery stores still had plenty of food all through and after Vietnam.

What was the real cause of the high inflation of the late 1970's and early 1980's? A trifecta of massive deficit spending programs.

Kennedy's 'Man on the Moon'. On the one hand I like the space program, but spending ourselves into bankruptcy to achieve the goal? On the other hand the space program had a LOT of spinoffs and improvements in technology leading to improvements in our standard of living and more cost effective ways of doing things. (Among them smaller computers for space craft led to the personal computer of today.)

Johnsons Vietnam War. Wars always improve technologies and enhances productivity. The Civil War brought U.S. a massively increased railway system and a telegraph system. WWI begat truck making factories to mechanize America. WWII radar for doppler weather radars. Vietnam and those nightingale air ambulances. The lists go on and on. Was War to get those improvements worth it? Dunno but I have no problem letting other people make up their own minds.

And Johnsons 'War on Poverty'. Massive welfare spending which amounted to pouring money down the toilet.

>>>
Welfare vs. Defense, By the Numbers

http://www.nationalreview.com/corner/welfare-vs-defense-numbers-kevin-d-williamson/

October 9, 2015
A few more thoughts on the view from 1957. Relative to the size of the U.S. economy (which is to say, as a share of GDP) we have cut military spending to barely a third of what it was in 1957, from 9.8 percent of GDP then to 3.3 percent of GDP now. Even though we were spending three times as much on national defense in 1957—and even though we had lower taxes (17.2 percent of GDP then vs. 17.7 percent of GDP today) we ran a budget surplus. It’s usually described as a “modest” surplus, but at 3.4 percent of GDP, the budget surplus of 1957 was proportionally larger than military spending is in 2015.

So, where’d the money go?

Feel free to consult the historical data yourself, but the short answer is: welfare spending.

....Skip Some....

Recap: In GDP terms, we spend about a third on the military today compared to what we spent in the late 1950s. We spend almost exactly the same on interest on the debt. We spend 20 percent less on energy, transportation, the environment, and natural resources. And we spend almost four times as much on welfare. Again, that is in GDP terms, and our economy is a heck of a lot bigger than it was in 1957. As a share of all federal spending, welfare has gone from 23 percent of spending to 73 percent of federal spending. In constant-dollar terms, we spend 17.5 times as much. In nominal-dollar terms, we spend 150 times as much.
>>>

Zim.




Avatar

Mad Poet Strikes Again.


- - - - -
View Replies (1) »



» You can also:
- - - - -
The above is a reply to the following message:
Re: World Superpowers Threw Their Cards on the Table This Week
By: Fiz
in 6TH POPE
Sat, 25 Feb 23 5:29 AM
Msg. 40465 of 58533

Zim: "My personal feeling (and I admit that might be wrong) is that Russia's (USSR actually) losses in Afghanistan contributed to the implosion of the USSR."

I think you are VERY right. In the Russian metros, I encountered a lot of amputees and other derelicts from the Afghan wars. The emotional gap between the ex-soldiers and the civilians felt like an open wound still weeping. We saw some of that in some of our Vietnam veterans, but in the early 2000's Russia didn't have enough wealth to provide any sort of social safety net any more. Or maybe the civilians simply felt too much of the wound themselves and didn't want to be reminded.

Zim: "Another, and bigger factor in the implosion was the Arms Race Reagan pushed the Soviets into."
I suspect so.

Zim: "As for Vietnam - America was NOT impoverished by it. I don't believe we were 'vastly demoralized' and I suspect it more likely that the rest of the world didn't care...But the American economy was BIG enough and robust enough we could afford it."

Here I think you are VERY much mistaken. Evidence? A mountain of evidence. I point you to http://wtfhappenedin1971.com/

The US went financially bankrupt in 1971, Zim, or close enough that only a deal with the devil stopped catastrophic and immediate public collapse. Do you remember when Nixon closed the gold window to the rest of the world? Its significance was mostly downplayed in the nightly news, but THAT WAS A FORMAL DECLARATION TO THE GOVERNMENTS AND BANKERS OF THE WORLD THAT THE US WAS INSOLVENT.

You need to study up on Bretton Woods, Zim, if you want to understand the news behind the news. Reading The Creature From Jekyll Island, as De suggests, would fast track you. Remember the "one worker family" of the 1950s and 1960s? Where did it go? Did you swallow the propaganda about how "women were liberated" from having to stay at home and now WANTED to work? The truth is, that before 1971 one salary was more than enough to provide the good life...and afterward it wasn't. Now even both parents working usually isn't enough to buy a house and send the kids to college. And retirement pensions so most people could retire comfortably by age 65? Where did THOSE go? There were no credit cards in the 1960s; so almost nobody was deeply in debt. Smoke and mirrors. Poof! All gone!

Here is the one-minute version of what went down to FORCE Nixon to "close the international gold window": Effectively all the world's gold had been entrusted to the US for "safe keeping" during and after WW2. The Gold belonged to THEM, not to us -- you need to understand that. Although US citizens were not allowed to turn in dollars for gold, the governments of the world were allowed to do that. They were PROMISED the USD was "good as gold". They were promised they could get their gold back on demand any time they presented US dollars and made the request.

But the US had not only spent its own gold, it had also spent most of the gold it was supposed to be keeping safe for many governments. It had STOLEN the wealth of the world, Zim, in order to fund its "forever wars", its various welfare programs, its living beyond its means, and ...doubtless...a lot of simply criminal theft.

Anyway, THAT is what happened in 1971: the US went into a sort of "Chapter 11" and had to make deals with the Saudis and many other parties in order to keep the dirty secret quiet and not panic the sheeple. The recessions, 20%+ inflation, and "energy crises" which followed were pretty awful -- and would have been much worse all around the world if not for the backroom deals.

That's the 1 minute version, Zim. The graphs on that website show how all the wealth had to be STOLEN from average US citizens from that point on to today, and beyond, to pay the interest on the credit cards the US had to use in 1971. We never recovered. We never will. We used to be the world's greatest Creditor nation. Now we are the world's biggest DEBTOR nation -- the biggest in all human history. And the devils WILL be paid, Zim...if they have to eat your grandchildren alive, harvest their organs, or worse. The devils will be repaid.

Maybe you thought you lived in "Land of the Free and Home of the Brave", like I did? That we fought endless wars "for Democracy" because we are "the good guys"?

Nothing is quite what we thought. I'm wondering what we still don't know; what shoe or shoes have yet to drop?


« 6TH POPE Home | Email msg. | Reply to msg. | Post new | Board info. Previous | Home | Next