this post was submitted on 13 Jun 2025
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I feel like 9/11 was the inflection point. The great recession was just another symptom of the problem. Banks can't get overwhelmed by underwater mortgages if people aren't underwater in the first place.
https://wtfhappenedin1971.com/
Going by the presented graphs, something happened in 1960.
I don't know the root cause but that's about when the events of Confessions of an Economic Hitman started.