Also J. Epstein turned 18 - Video

Did not know there were so many Economy experts in 9gag

The fed.

Nixon , Regan, Bush, Trump ... Stop electing Republicans... They fuck shit up every single time

War happened. War made certain groups ultra rich. Monopolies were becoming more common. Ultra rich decided to outsource jobs. Monopolies meant that less local employers existed, so more and more jobs were affected and due lowered production costs those companies lost against thos

No. It's not the gold standard. That's just a red herring. If you look closely on the figures you would notice that the drastic change occured in 1980, not in 1971. It was the Reagan administration that threw out the Keynesian policy which dominated US economic since FDR and repl

Something...something...standard

The US citizens were cooked the day the Federal Reserve was founded. The government went from having to rely on people paying taxes and buying bonds to fund projects - that system basically gave the people veto power; protest the taxes, or don't buy the bonds, and the government

The reason? Easy, on August 15, 1971, Nixon announced the "Nixon Shock," closing the "gold window" and ending the U.S. obligation to exchange dollars for gold at a fixed rate of $35 per ounce, which effectively ended the Bretton Woods system. The Fed was no longer restricted to o

The US dropped Brenton Woods system entirely, then legalized LLC's, had over reliance of Middle Eastern Oil, moved industrial base to PRC, and more.

Sorry, who takes 7 years to save for a house??