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   sport of sacred spherical cows (beadsland@hcommons.social)'s status on Friday, 04-Oct-2024 03:57:03 JST sport of sacred spherical cows

   in reply to

   Those of us who lived through the 70s were quite familiar with a term coined to describe the break from prior decades of post-New Deal prosperity:

   Stagflation.

   To attribute the new normal that began with the then unheard of coupling of recession & inflation—already evident in the UK in the 1960s—to a US chief executive in the 1980s… requires an astounding ignorance of history.

   To then point to a chart that shows it started at one time and continue to recite the gospel that it started another…

   • Embed this notice
     sport of sacred spherical cows (beadsland@hcommons.social)'s status on Friday, 04-Oct-2024 03:57:04 JST sport of sacred spherical cows

     Noticing again how trendlines began moving off diagonal historical trend near a decade before when folk want to say the problem started.

     https://xoxo.zone/@mathowie/113244489805385470

     Like, ya'll shared the graph. Worse, someone made the graph, and decided to color tint one half of it orange and the other half blue.

     The NYT chose to mark "The Great Regression" as starting years after the Compensation and Wage lines went mostly horizontal. But that editorializing doesn't change what the lines do on their own chart.

     AnthonyJK-Admin repeated this.