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Cake day: June 17th, 2025

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  • Historical context.

    Inflation started becoming a problem in the late 1960s. LBJ wanted to have a massive Vietnam War without raising taxes, so he printed money. Nixon ran as a ‘peace candidate’ and then tripled down on Johnson’s policies. For a while, running the steel mills 24/7 to make bombs was popular with the Unions and Wall Street, but when the Arab Oil boycott hit everything went off the rails.

    Jimmy Carter hire Paul Volker to run the Fed; Volker’s plan worked but Carter lost in 1980 and Reagan got the credit. Worse, Reagan let the banks print money to fund the ‘go-go’ 1980s.

    In 1968, middle class was one income supporting a family of four. In 1992, when Bush Sr. was done, ‘middle class’ was two incomes. During the same time, $1 million went from being a vast fortune to what a rich guy paid for a party.






  • DagwoodIII@piefed.socialtoLemmy Shitpost@lemmy.worldIndeed
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    20 hours ago

    [off topic?]

    All the body parts were arguing over who was the most important. The Brain said that she was, but the Hands pointed out that they did all the work. The Heart and the Lungs said they were the most vital, but the Stomach pointed out that without food, they’d all be dead. It went on and on until the Asshole spoke up. “Why shouldn’t I be in charge?”

    Everyone had a good laugh and the Asshole got mad. She shut down. A week went by and the Brain was dizzy, the Heart was pounding, the Lungs were panting, and the Hands were shaking. Finally everybody agreed to let the Asshole be the one in charge.

    And the moral of the story is that any Asshole can be the boss.