A lot of exclusive and expensive stuff became affordable for everyone. Through scientific research new technologies and materials were developed and more and more got automated. Mass manufacturing/creation became the norm.
European countries had deep pockets full of cash and hardly any debt through their colonies in Africa etc.... It was a golden age. In post colonial times various International conflicts (Afghanistan war / Oil Crisises / Vietnam) gave the global economy a huge blow.
Meanwhile Nixon decided that USD value was no longer backed up by a national gold supply but through the GDP which was adopted by other countries later on.
Global debt exploded from then on and multiple economical crisises followed which were solved by manipulating the monetary system so that whatever insolvency or budgetary problem was fixed by printing more (no longer backed) money.
That story ended in 2008 as the financial institutions that fractionally stores your holdings, became that greedy and reckless that several went bankrupt or needed government funding to survive (though nationalisation of their debt). Every citizen became holder of debt and those responsible for the mess from trader to executive management got away with it and received huge bonuses.
I always compare the current situation with the feudal era that ended in 1789 with the French Revolution. Royalty and such were awarded with leadership that was transferred onto them by their ancestors. Royalty, in a historical perspective, originated from tyrants and warmongers that suppressed, even tortured their citizens or used them as slaves through religious justification by the Roman Church. People were uneducated and feared Clerics.
The whole bunch united themselves and even attempted to maintain there genes by inbreeding. Till that inbreeding caused that much degeneration that fresh genes were needed.
After the French Revolution some dire times followed but the industrial revolution gave them an opportunity to adapt to the changing society. Royalty found new partners in a growing number of rich industrials which were given Royal titles. Large monopolistic and nationalised companies emerged that provided services to citizens. Railway, Weapons, Utilities, Communication, Radio and TV to name a few.
These government corporations provided a lot of jobs which were well paid and provided several advantages over regular jobs in private companies. But politicians like happy voters and althou
European countries had deep pockets full of cash and hardly any debt through their colonies in Africa etc.... It was a golden age. In post colonial times various International conflicts (Afghanistan war / Oil Crisises / Vietnam) gave the global economy a huge blow.
Meanwhile Nixon decided that USD value was no longer backed up by a national gold supply but through the GDP which was adopted by other countries later on.
Global debt exploded from then on and multiple economical crisises followed which were solved by manipulating the monetary system so that whatever insolvency or budgetary problem was fixed by printing more (no longer backed) money.
That story ended in 2008 as the financial institutions that fractionally stores your holdings, became that greedy and reckless that several went bankrupt or needed government funding to survive (though nationalisation of their debt). Every citizen became holder of debt and those responsible for the mess from trader to executive management got away with it and received huge bonuses.
I always compare the current situation with the feudal era that ended in 1789 with the French Revolution. Royalty and such were awarded with leadership that was transferred onto them by their ancestors. Royalty, in a historical perspective, originated from tyrants and warmongers that suppressed, even tortured their citizens or used them as slaves through religious justification by the Roman Church. People were uneducated and feared Clerics.
The whole bunch united themselves and even attempted to maintain there genes by inbreeding. Till that inbreeding caused that much degeneration that fresh genes were needed.
After the French Revolution some dire times followed but the industrial revolution gave them an opportunity to adapt to the changing society. Royalty found new partners in a growing number of rich industrials which were given Royal titles. Large monopolistic and nationalised companies emerged that provided services to citizens. Railway, Weapons, Utilities, Communication, Radio and TV to name a few.
These government corporations provided a lot of jobs which were well paid and provided several advantages over regular jobs in private companies. But politicians like happy voters and althou
