Comments by "Xyz Same" (@xyzsame4081) on "Peak Prosperity" channel.

Not 1971 but 1973 with the global severe economic crises (oil price spikes) that was used by the oligararchs to finally hit back agains the New Deal. It was NOT the monetary system, it was undermining domestic production after a turbulent decade (the 1970s) and uniions. And decoupling wages from productivity growth. Wages stagnated if you look at inflation rates. Despite much higher inflation rates before - the purchasing power of hourly average wages doubled between 1947 and 1970 (almost - plus 97 %). While productivity rose by 112 %, so workers (incl. minimum wage workers) got the lion's share, but all but a lot of that. Between 1970 and 2013 (20 years longer !) it was wages adjusted for inflation plus 9 % (but rent and housing, education and healthcare much more expensive, which hits lower income folks much more) While productivity had risen by 69 %. Not nearly as much as before, but still some progress.
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