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Cake day: June 17th, 2025

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  • DagwoodIII@piefed.socialtoMemes@sopuli.xyzDeeply so
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    2 days ago

    Think of it this way.

    The 1950’s was the “Rock and Roll” era.

    The 1970’s was ‘Disco.’

    The 2000’s were ‘the 2000s’

    Bell bottoms and acid washed jeans lasted a few years, and I’ve been seeing guys with their pants below the butt for decades.










  • Historical context.

    Inflation started becoming a problem in the late 1960s. LBJ wanted to have a massive Vietnam War without raising taxes, so he printed money. Nixon ran as a ‘peace candidate’ and then tripled down on Johnson’s policies. For a while, running the steel mills 24/7 to make bombs was popular with the Unions and Wall Street, but when the Arab Oil boycott hit everything went off the rails.

    Jimmy Carter hire Paul Volker to run the Fed; Volker’s plan worked but Carter lost in 1980 and Reagan got the credit. Worse, Reagan let the banks print money to fund the ‘go-go’ 1980s.

    In 1968, middle class was one income supporting a family of four. In 1992, when Bush Sr. was done, ‘middle class’ was two incomes. During the same time, $1 million went from being a vast fortune to what a rich guy paid for a party.