What happened around this time period that cause the debt to increase in rapid successions?

What happened around this time period that cause the debt to increase in rapid successions?

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en.wikipedia.org/wiki/Laffer_curve
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The end of Bretton Woods system

Pilled. Research the war.

Capitalism

Lots of things. One of the biggest factors was LBJ's "great society" scheme taking off. It created the welfare state as we know it while drastically increasing the severity of poverty in the country, and all the while draining the government of more and more money every year.

First post correct post.

Fiat stopped being obligated to be back by gold

Nixon ditched the gold standard. Debt is part and parcel of a healthy economy.

Your picture is retarded. Tarps and derivatives will help

These

Nixon completely abandoned the gold standard and ended the Bretton Wood System in favor of backing the USD by oil, which is why the purchasing power of the dollar dramatically shrunk after 1970
Also the welfare state was created which meant the govt had to pay for pensions, social security and welfare.

If you want to go further back than look at the Federal Reserve Act of 1913 to see why weren't in our current predicament

Hootie and the Blowf- I mean Nixon and the jews.
>I will defend the Dollar (USD depegged from Gold)

Reagan + capitalism

it was actually carters economic policy it did give us an economic boom. nixon's mozing to fiat currency saved us from the brutality the soviets faced after the oil glut faded and also stopped massive fuck inflation problems dead in their tracks

Wasn't it because of the oil crisis? And the economy didn't really tank, but it did poorly? Am I wrong?

neoliberalism

...

Burger manufacturing started being sold off to the lowest bidding Third World slave state and the bloated Anglosphere began exhibiting slovenly offshoots of its post WW2 bon vivant lifestyles...

bull market launch. birth of of the wall street bankster

Nixon killed the gold standard

absolutely this post.

>on 15 August 1971, Nixon issued Executive Order 11615 pursuant to the Economic Stabilization Act of 1970, unilaterally imposing 90-day wage and price controls, a 10% import surcharge, and most importantly "closed the gold window", making the dollar inconvertible to gold directly, except on the open market. Unusually, this decision was made without consulting members of the international monetary system or even his own State Department, and was soon dubbed the Nixon Shock.

>On 15 August 1971, the United States unilaterally terminated convertibility of the US dollar to gold, effectively bringing the Bretton Woods system to an end and rendering the dollar a fiat currency
Not only was the USD declared fiat, but most of the gold in US reserves was sold off to pay debts from wars.
One thing is for sure, if you were a jew in 1971 who owned gold or bought it as it was sold off, you got rich FAST

I like how it levels out during clinton but spikes with bush jr. We'll see how trump affects the graph, probably another super spike.

sexual revolution

women put a price on their pussy and no one can afford it

well that coincides with the first real economic warfare between the US and Europe

the whole gas price hike and beginning of the petro dollar plays an integral role in that

>abolish gold standard
>establish welfare state
>cold war

That chart is retarded it says 10 quadrillion in 2007

>women put a price on their pussy and no one can afford it
there were pricy whores in the 20s

Reaganomics is what happened.

"Ketchup is a vegetable"

>Tarps and derivatives will help

>(trillions of dollars)
>10,000 in 2007
>10,000 trillion dollars
>10 quadrillion dollars
:thinking:

derivatives will help?
d/dx (4x^2ln(x/2)+tan^2(x/2)) = 8*log(x/2)*x+4*x+sec(x/2)^2*tan(x/2)

Nixon took america off the gold standard detaching the american dollar from any value other than implied.

Prior to that printing money was a very big deal because it had to be tied to the price of gold, also were bound by treaty to stick to it with the bretton woods agreement, which we violated.

So now when you realize that americans made the same money in 1977 as they do thday, adjusted for inflation (all the printing of money theyve done since then) but our productivity has grown exponentially as has the cost of life...and you wonder why being an adult is shit and wonder how your parents managed to live a good life and raise a large family with no government programs and just dad working...and now two salaries barely cuts it and you struggle....thank the bankers.

/traps/ are the ultimate, omni-panacea nepenthe pill, faggot... irrespective of the subject matter in question

The graph is written wrong. It means that in the year 10000, the debt will be about 2007 trillion dollars

The 20ies brought Hitler to power, wait a sec ...

Peak Conventional Oil in America

Rise of the petrodollar.

You might not like it, but this is what Peak American Oil looks like.

the only answer in this thread.

Credit cards being the norm.

Real answer: the 70's was a period notorious for it's inflation and economic stagnation, that the increase of debt near the end of it was from the government simply prodding up services without the matching tax revenue to break even, and as apart of a stimulus. The reason why it has increased ever since is because of Reagan's trickle-down economics, which could be argued was necessary back in the early 80's given the circumstances, but has otherwise always wantonly raised the deficit by hoping that tax revenues would outgrow spending in the future by cutting taxes now.

H.W. Bush called Reagan's policy voodoo economics, David Stockman who was appointed by Reagan for the Office of Management and Budget said that no one at the agency under Reagan knew what any of the numbers about their proposals meant, and Alan Greenspan--who once championed Reagan's fiscal policies--stated in the wake of the 2007-8 financial collapse that trickle-down economics is a sham that has failed.

Trickle-down economics isn't a real thing.

>What happened around this time period that cause the debt to increase in rapid successions?

America left the gold standard, a system that attempted to keep runaway spending to a minimum.

Zimbabwe dollar coming. Just not sure exactly when, though.

That, my friend, was the invention of the laffer curve, aka voodoo economics.

>What happened around this time period that cause the debt to increase in rapid successions?

Not just the loss of the gold standard--

America embraced DIVERSITY and turd world immigration !!!!!!

en.wikipedia.org/wiki/Laffer_curve

Logarithms help.

Hillary was Nixon with a vagina.

The jews got their Israel.