"Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone." John Maynard Keynes

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[–]ctvzbuxr 5 insightful - 4 fun5 insightful - 3 fun6 insightful - 4 fun -  (7 children)

And this is the man that has influenced our so called capitalist economic system more than any other. Absolute insanity.

[–]JasonCarswell 2 insightful - 4 fun2 insightful - 3 fun3 insightful - 4 fun -  (5 children)

Much of the USA (not all) flourished much better under the Keynesian economics applied with the New Deal.

The 1970s started the 30-40 year change of all that.

[–]danuker 6 insightful - 2 fun6 insightful - 1 fun7 insightful - 2 fun -  (4 children)

Nope. It's just the numbers that were embellished.

[–]JasonCarswell 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (3 children)

Ha, probably. But those charts are very cleverly selected/cropped. From the 1970s the middle class has been gradually getting worse. That chart only starts at 1964.

The golden years I was talking about was from the New Deal and WWII to the mid 1970s.

I didn't read this article, nor am I familiar with the source. I just picked the first image search for the familiar graph I was seeking. It doesn't go back to the 1940s but it clearly illustrates what is commonly well known in Figure 1. https://www.cbpp.org/research/poverty-and-inequality/a-guide-to-statistics-on-historical-trends-in-income-inequality The rest of the article is an entirely different issue/discussion. Of note, even this example is not really what I was after, because there's a HUUUUUGE difference between the wealth of the top 5% and the top 0.1% and that would have been a far more extreme - PLUS - on the bottom end they only illustrate the bottom 20%. But at least they have a median in there, for whatever that's worth.

[–]danuker 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 2 fun -  (1 child)

very cleverly

I'm sorry if it looks that way, but I can't find older data either. Even the Fed's archival site only shows data from 1979 (or I can't find it). Real wages seem stagnating since then.

[–]JasonCarswell 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

I appreciate your efforts to look. I don't know your sources enough to trust or distrust them, nor know enough about general or specific economic or catallactics to really discuss or debate them.

This topic is generally waaaay out of my area of expertise - but after half a dozen years of delving deep into the deep state and everything related, including touching on economics, politics, history, etc. despite not being an expert with so much exposure I feel certain that the mid 70s was the beginning of the intentional gradual collapse of the USA.

Also worth noting: Yale's Skull & Crossbones were imbedded in China and funded and raised up Mao who killed 100 million Chinese citizens. (Stalin only killed 40 million. Hitler less.) And of course in the 70s Nixon mended fences with China.

I'm more interested in the overall contextualization of things. It's a broader understanding, almost a feeling. I know feels aren't facts, but these days folks can prove almost anything with citations.

I may not be correct. But I offer up my perspective to be considered.

[–]danuker 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

Also, BLS data only goes to 1975.