careinke wrote:I didn't know the US "is located at a beneficial place on the equator." I thought we were a little north of the equator. Once again the public schools failed me...sigh.
I stumbled there too, LOL! The guy is from TX tho...
So many things happened in the 70's (so I've read) that have had long legs. Of course the embargoes were a big deal but the US peak merely accelerated our growth of imports which was already o the way up
That impacted our balance of trade no doubt but that didn't really go into the toilet till "Free Trade" and global inventory control via computer and net really took off in the 90's taking advantage of little Chinese girls to make our underwear and electronics.
You can name all sorts of other structural changes that started in the 70's:
Automation, computers, robotics, computers and computers.
Union decline of course
Working women (paid work that is)
Container freight changed the world in the 60's, the rate was once 25% of the value of the item shipped, today it's virtually nothing (not as nothing as it once was but still cheap).
Great Society/Equal Rights/hippies (leading to the Great Resentment/Reaganomics/TEA Party)
He has a good rant but there were lots of things going on.
The legitimate object of government, is to do for a community of people, whatever they need to have done, but can not do, at all, or can not, so well do, for themselves -- in their separate, and individual capacities.
-- Abraham Lincoln, Fragment on Government (July 1, 1854)