The economic boom the US experienced in the 1950s and 1960s was the result of:
Pro-worker economic policies enacted during the great depression that were kept in place through WWII and remained in place until they started getting killed off in the 1970s and were fully killed off in the 1980s by Reagan.
The top tax bracket being set at 90%.
The US being one of the only countries that didn’t have its infrastructure absolutely trashed during WWII.
Even if the US went back to pro-worker, anti-oligarch policies, we’re unlikely to see another golden age unless there’s another world war that doesn’t damage the US. When people talk about their grandfather supporting 4 kids as a plumber, that was wonderful, but it was never the norm.
That one didn’t really matter that much to regular Americans. Less than a third of Americans owned stock back then, and that crash didn’t have an obvious cause from actual economic fundamentals. And the Fed managed to contain the liquidity crisis, as your linked Wikipedia page describes, so that the broader economy was largely unaffected.
Recessions matter. Stock market crashes only matter when they are caused by, or are the cause of, an actual recession in the real world.
It’s not like this is a millennial thing:
And you can keep going back. Also, the plural of crisis is crises.
Masks off.
This country has always been pretty awful.
We just had a short golden age where we taxed the fuck out of rich people and were simultaneously benefitting from the spoils of a World War.
I wish I could upvote this more than once.
The economic boom the US experienced in the 1950s and 1960s was the result of:
Even if the US went back to pro-worker, anti-oligarch policies, we’re unlikely to see another golden age unless there’s another world war that doesn’t damage the US. When people talk about their grandfather supporting 4 kids as a plumber, that was wonderful, but it was never the norm.
Let’s see: !lemmysilver
!lemmysilver
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That one didn’t really matter that much to regular Americans. Less than a third of Americans owned stock back then, and that crash didn’t have an obvious cause from actual economic fundamentals. And the Fed managed to contain the liquidity crisis, as your linked Wikipedia page describes, so that the broader economy was largely unaffected.
Recessions matter. Stock market crashes only matter when they are caused by, or are the cause of, an actual recession in the real world.
Gen X here, and yeah… “first time?” meme.
It’s almost like the term for a series of crises is “history” or maybe “life”. TBF, wanting to feel special is normal.