Small blip in 1946 with 20% inflation and 3.9% unemployment then of course it’s all history as we know now. 30y of uninterrupted growth as the production engine of a bombed out world. Private capital investment tripled from 10.6B in 1945 to 30.6B in 1946. Stocks up 92% by 1947.
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Thanks
@jamesgiammona for the recommendation. Scratched my itch to apply WW2 industrial mobilization story lessons to Covid reboot and climate action.Show this thread -
My takeaway in that front is... not optimistic. The US lacks the kind of economic guts that allowed this story to happen. Outside of parts of Silicon Valkey tech economy this spirit is basically missing. And SV does not dominate the YS as strongly as Detroit etc did in 1940s.
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Also an equally worrisome trio of red, blue, and green new-deal crowds is at work today, pushing the exact same sorts of bad thinking as in the 1930s, requiring the same kind of protection/interference to allow a recovery.
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Green New Deal: bad climate thinking inside huge big tent sjw bullshit and MMT package Red New Deal: Profiteering gangsterism under maga pretending 1950s rewind is possible. Blue New Deal: keep protecting financialization and unproductive predatory Wall Street denture elites
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A Freedom’s New Forge pretty much *has* to come out of Silicon Valley since there are no other candidate golden geese. But trends there are not promising either except for isolated pockets.
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