I read an interesting article by Lance Roberts entitled Personal Incomes and the Decline of The American Saver. He argues that something fundamentally changed around 1980. (google it to read it)
Independently, I think there were two (for me fundamental but as yet) unexplained changes in the late 1930s and the early 1980s that had huge ramifications. I think 1981-1982 started us on the path to world bankrupcy that we are on now.
I remember going through 1981 as my mortgage rate ended up at 15% pa and thinking I would lose my house. It changed fundamentally my way of looking at government and finances. I have often thought that something basic changed in society then but have been at a loss for what it might be.
My own ideas and thoughts are around the rise of Television, the rise of advocacy through advertising, start of credit cards, demographics, and the like.
Does anyone have any ideas what was the biggest driver of change during 1981-1982? ( I think that if we could understand the cause, we might be able to get at the solution. I worry for my grand-daughter who will be 2 in June.)
Independently, I think there were two (for me fundamental but as yet) unexplained changes in the late 1930s and the early 1980s that had huge ramifications. I think 1981-1982 started us on the path to world bankrupcy that we are on now.
I remember going through 1981 as my mortgage rate ended up at 15% pa and thinking I would lose my house. It changed fundamentally my way of looking at government and finances. I have often thought that something basic changed in society then but have been at a loss for what it might be.
My own ideas and thoughts are around the rise of Television, the rise of advocacy through advertising, start of credit cards, demographics, and the like.
Does anyone have any ideas what was the biggest driver of change during 1981-1982? ( I think that if we could understand the cause, we might be able to get at the solution. I worry for my grand-daughter who will be 2 in June.)
