Notice when the graph really heads north...right around 1972. What else happened right around then? Well, silver was removed as backing from the U.S. Dollar, and it became a total fiat currency. This allowed the government to print unlimited amounts of money to cover their spending. The influential then hired lobbyists to convince politicians to spend on special interests and bailouts. Voila! Crony capitalism destroys the middle class.
Sunday, August 22, 2010
Plutocracy Reborn
Notice when the graph really heads north...right around 1972. What else happened right around then? Well, silver was removed as backing from the U.S. Dollar, and it became a total fiat currency. This allowed the government to print unlimited amounts of money to cover their spending. The influential then hired lobbyists to convince politicians to spend on special interests and bailouts. Voila! Crony capitalism destroys the middle class.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment