{"id":61615,"date":"2022-01-24T07:04:09","date_gmt":"2022-01-24T12:04:09","guid":{"rendered":"https:\/\/olduvai.ca\/?p=61615"},"modified":"2022-01-24T07:04:09","modified_gmt":"2022-01-24T12:04:09","slug":"the-greatest-crackup-the-worlds-ever-known","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=61615","title":{"rendered":"The Greatest Crackup the World\u2019s Ever Known"},"content":{"rendered":"

The Greatest Crackup the World\u2019s Ever Known<\/a><\/h3>\n
\n

\"\"<\/a>By now, anyone with half an inkling of curiosity about why prices and values don\u2019t add up has traced the divide back to the money itself.\u00a0 It\u2019s not hard to see.<\/p>\n

Asset prices, like houses and the major stock market indexes, have lost all visible connection with the underlying economy.\u00a0 However, wage growth has stagnated; over the last 40 years low level wages have only increased by\u00a0$0.32 per hour<\/a>\u00a0in real inflation adjusted terms.\u00a0 Stocks and residential real estate, at the same time, have gone to the moon.<\/p>\n

Even with the NASDAQ\u2019s 11.2 percent decline from its all-time closing high set on November 19, the index is still up over 110 percent from its March 2020 low.\u00a0 What will it take for the NASDAQ to crash back to earth?<\/p>\n

Something else that has gone to the moon is government debt.\u00a0 In 1980, the national debt was $908 billion.\u00a0 Today it\u2019s over $29.8 trillion.\u00a0 That\u2019s an increase of over 3,181 percent.\u00a0 Over this time, however, gross domestic product (GDP) has only increased 632 percent \u2013 from $2.86 trillion to $20.94 trillion.<\/span><\/p>\n

Of course, these are merely the facts and figures.\u00a0 The effects to countless Americans are hard to measure.\u00a0 But, by and large, the last 40 years have been a great disappointment for the American worker \u2013 and an absolute boon for the political elites.<\/p>\n

In addition to asset prices and government debt, social discontent has also gone to the moon.\u00a0 Here in the LA Basin, for example, some of America\u2019s most resourceful fellows have taken to emulating the corruption found in Washington and on Wall Street.\u00a0 They\u2019re\u00a0looting stores<\/a>\u00a0and\u00a0plundering freight trains<\/a>\u00a0as a matter of business.\u00a0 Daring professions like these flourish when hard work and playing by the rules no longer pays.<\/p>\n

What\u2019s really going on\u2026<\/p>\n

Spineless Money<\/strong><\/p>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The Greatest Crackup the World\u2019s Ever Known By now, anyone with half an inkling of curiosity about why prices and values don\u2019t add up has traced the divide back to the money itself.\u00a0 It\u2019s not hard to see. Asset prices, like houses and the major stock market indexes, have lost all visible connection with the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[1099,12043,309,11763,13351],"class_list":["post-61615","post","type-post","status-publish","format-standard","hentry","category-economics","tag-currency-devaluation","tag-economic-prism","tag-fiat-currency","tag-mn-gordon","tag-price-inflation"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/61615","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=61615"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/61615\/revisions"}],"predecessor-version":[{"id":61616,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/61615\/revisions\/61616"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=61615"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=61615"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=61615"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}