What event will future historians consider as the moment the American Empire's decline became terminal?
>>18532475When Saudi Arabia, Iran, Russia and India started trading oil in Yuan and Euro instead of the Petro-Dollar
>>18532475
Ahem.You are now aware that 1971 is the year Nixon finally took the gold standard off life support and effectively terminated Bretton Woods.That's it, explains chart. I have nothing more to add.
>>185324759/11 because it exposed how fragile the liberal system really was and how easily the freedoms that make America different can be taken away
>>18532483This doesn't explain anything
>>18532475What is this chart what is a productivity
>>18532598The dollar used to be backed by actual real life gold. Since Nixon it's backed by wishful thinking. That made the dollar less attractive as a global currency and it also allowed a lot of inflation (money losing its value over time) since the government can just print more whenever they want.The chart shows that productivity used to be linked with compensation. But since the end of the gold standard compensation stagnated while productivity kept improving. Someone benefits from the improved productivity, but it is not the workers.
>>18532680What is a Palestinian?
>>18532475When they started electing literal actor meat puppets to the highest office.
>>18532485The freedoms were taken away long before that at least back when they made it illegal to assemble your own brain chemistry.
>>18532598pure coincidence
>>18532686The gold standard only existed for governments since FDR anyway
>>18532686so the solution would be paying workers more.why is the gold standard necessary for that?
>>18532686Thats a non sequitur
>>18532910FDR more like IDF.
>>18532483>I have nothing more to add.It also coincided with other big changes like the civil rights movement and the start of open border migration with Mexico.
>>18532917Government can't be trusted to properly control the value of currency without tying it to a physical commodity.
>>18532910FDR literally went door to door stealing American citizen's gold by executive fiat to give to the federal reserve.What an enormous scumbag.
deboonked, the chart only looks at wages not wages + benefits as it shouldYou have all these unions and communists demanding welfare checks, paid vacations and dental plans not realizing market forces ultimately decides the value of their labor.
>>18532957>i-it's not so bad!!>still 30 percent gapalso>graph ends in 2012
>>18532957>heritage foundationlolyeah goy, take this compensation chocolate bar valued in three trillion shekels, don't ask why i only take my bonuses in cash
>>18532957>adjusted for inflationhmmmare 401k included in this "total compensation" in which case it would reflect the rising stock market, which is in large part really driven by inflation through the loans used by brokers to facilitate their customers buying on marginyeah, just checked they areso really those are enormous bundled investment portfolios, not individual conpensation>market forces ultimately decide the value of their laborThis is simply false.The value of their labor is mutually agreed upon when their employer takes them on.It used to be, decades ago, employers would give raises to keep up with inflation. Because they cared about retaining skilled employees, and actually paying a living wage.This is a lot more rare now.Impersonal "market forces" are your headcanon.
>>18532957>deboonked, the chart only looks at wages not wages + benefits as it shouldYes the skyrocketing cost of healthcare falsely inflates the compensation of workers. It's not as if the companies healthcare costs triple, Working Joe sees that in his paycheck.>everyone is getting long wonderful vacationsYou chose to be stupid.
>>18532686Except there wasn't such a huge differece between inflation before and after the end of the GS.https://www.macrotrends.net/2497/historical-inflation-rate-by-yearIt is true that there were deflationary years before that, but those always happened during or after recession. After the gold standard, recessions weren't as bad as before, so deflation was also weaker.
>>18532686Gold is literally useless.The Dollar is backed with F-22 fighter jets.
>>18532475Widespread entrance of women into the workforce. Increasing the labor pool decreases the compensation.
>>18533042Not just women, companies started to offshore like crazy around that time period.
>>18532957>deboonked>shows compensation losing groundlol lmfao why are lolberts this retarded ? It's even worse considering that it's *very* likely embellished by one of the most ideologically-motivated economic thinktank. >not realizing market forces ultimately decides the value of their labor.This is a very common phenomena in lolbert circles where they start thinking that the market is somehow this black-magic box that suddenly arranges everything.In reality, what determines wages is simply how much the shareholders determine is necessary to avoid adverse effects. If your union has no bargaining-power, then the wages stagnate or fall because the power imbalances between the workers and their boss grows wider. >inb4 workers can find another jobwoooo spooky labor-market rigidities woooohooo
>nobody disputing the premise that ameriKKKa is overYou love to see it
>>18532598Would the US trade deficit suffice, since you don't seem to understand the implications of a non backed reserve currency?
>>18532957What is the definition of "compensation"?Not money?... no? something of variable value?
>>18532483>>18532686Japan has a fiat currency but they don't suffer the same cost of living issues as us. Why?
>>18532475This is what the graph actually looks like btw.
>>18533591The real median purchasing power in Japan is embarrassing for a developed country and has fallen to levels comparable to Eastern Europe.
>>18532957That increase in compensation is solely because health insurance exploded in cost due to rampant patent abuse by pharmaceutical companies.
>>18532686>muh shiny rocks!Gold is worth more in industry than it is sitting in a warehouse. This is why the Gold Standard ended. This has been talked about to death already. Retards like you actually want to return to a currency backed by a commodity you're encouraged not to use and is in limited supply that doesn't scale with the size of the economy because you're obsessed with shiny fucking rocks like some mentally damaged autistic "human". Un fucking real people like you actually exist
>>18532475Short answer: Republicans
>>18532957>HeritageGood goy!
>>18532475>2 more weeks until it happens for real this timedo browns really believe that their countries would stop being shitholes if america collapsed?
>>18533624> index 2017 = 100
>>18533659>Gold is worthWhatever someone is willing to pay for it and that differs for every individual on the planet.
