Nixon Shock: 50 Years Ago Today

Discussion in 'Wall St. News' started by kmiklas, Aug 15, 2021.

  1. Yes these days, vote buying for both the right and the left.
    But in this case (late 1960s) the VietNam War was LBJ's darling pet project.
    By 1968, it was obvious that LBJ was championing an un-win-able war.
    The best of America's future (18-26 year old men) were being selected as "canon fodder".
    Unlike the wars of the future (Iraq, Afganistan, etc), many/most of the men who were maimed or killed in VietNam did not volunteer to go.
    They were drafted, forced to serve, by law.
    And VietNam was such an unpopular conflict that LBJ could not even consider running for re-election in 1968.
     
    Last edited: Aug 18, 2021
    #11     Aug 18, 2021
  2. SunTrader

    SunTrader

    Topic is about Nixon closing Gold window but somehow we wound up on LBJ and war.
     
    #12     Aug 18, 2021
    cobco likes this.
  3. Point is, most of the schemes that politicians come up with are bad ideas in the longer term.
    But in the short term, they get re-elected, as did Richard Nixon in 1972.
    LBJ, (in 1968) not so much.
     
    #13     Aug 18, 2021
  4. bone

    bone

    Getting away from the Gold Standard in 1971 turned out to be a boss move for the United States.
     
    #14     Aug 19, 2021
    UsualName and piezoe like this.
  5. Mercor

    Mercor

    And yet in spite of bad government people in USA are living a rich, diverse and safe life compared to all of history
    This is why its important to keep Government small and contained
     
    #15     Aug 21, 2021
  6. Mercor

    Mercor

    A true statement
    It allowed society to leverage itself to create immense wealth that has brought a few billion people out of absolute poverty
     
    #16     Aug 21, 2021
    UsualName likes this.
  7. SunTrader

    SunTrader

    Until ........... the bill (not dollar bill) comes due.
     
    #17     Aug 21, 2021
  8. Mercor

    Mercor

    Some day in the future it all goes down
    Next step is to bundle debt in 50 year, 100 year and 200 year bonds
    This system can be strung out another 100 years at least
     
    #18     Aug 21, 2021

  9. Wow, definitely some "high stakes gamblers" here.
     
    #19     Aug 21, 2021
  10. SunTrader

    SunTrader

    You and a lot of others hope.

    While the powers that be are making other plans that don't involve hope.
     
    #20     Aug 21, 2021
    countryBoy641 likes this.