What Else Happened In 1971?

What Else Happened In 1971?

The 1971 closing of the gold window, moved the world from a gold-based monetary system to a fiat-based system. Credit expansion then lead to indiscriminate debt and consumption replacing careful savings and investment, and many unintended consequences; economic, social, and environmental.

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1. Obesity Increase

Due to excess consumption encouragement from increased debt, food price inflation forcing people down the nutrition spectrum, compounded by flawed dietary guidelines, coincidently also introduced in the 1970s.

Source: Vox

2. Wealth Inequality

Source: Center on Budget and Policy Priorities

3. Plastic Waste

Source: Science Magazine

4. Lower Housing Affordability

Source: Wolf Street

5. Global Debt Bubble

Source: CNBC

6. Increased Climate Change

Source: Nasa