If you divided all the stocks issued in the US stock markets by issue number
and put them in a basket, chose one randomly,
there is an 87% chance that that specific stock belongs to someone in the top 10% of wealth in the country.
There’s either millions or billions of stocks in existence, but this is still true.
Reminds me of this site (which offers no answers):
https://wtfhappenedin1971.com/
that took a turn:
Fascinating, thank you. And the answer seems to be "no more gold standard" and apparently that was Nixon's decision?
It is nixon and reagan economics, the gold standard doesn't have much to do with it.
Might have something to do with it
Also the US hit peak conventional oil around 1971.
https://en.wikipedia.org/wiki/Peak_oil
Damn