this post was submitted on 26 Aug 2025
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I'm far from an expert or even very knowledgeable about economics (never taken macro or micro economics), but hasn't that been the case for decades?
Yes. Since the late 90s. But we're reaching thr end now. It's taken this long for the chickens of Reaganomics to come home to roost. The fruits of "fiduciary responsibility" to bear out.
Don't some people think that it started even earlier than that, when we abandoned the gold standard? I always saw that as some kind of crank theory, but nowadays I'm not so sure. I haven't looked at that debate much in depth though.
I don't know. I've likewise dismissed gold standard discourse as boomer nonsense forever. Doesn't matter now. There isn't enough gold on earth to service our current debt. Forget about paying it off or building a functional economy. We've grown beyond it.
Buy with regards to supply side economics. It blew its whole load in the late 80s and 90s. By 2000 we were going downhill. Those old enough might remember the news of the day talking about us becoming a "service economy"
Good points, and I agree with all of it. I definitely remember all the talk about becoming a "service economy".