In mathematics, a “point of inflection” is the point at which a function stops falling and starts growing or stops growing and starts falling. In the language of calculus, we say that a point of inflection is where the second derivative of the function transitions from positive to negative or vice versa.
The well-being of the common American hit an inflection point with the 1980 election of Ronald Reagan as president of the United States. After decades in growth following WW2, instantaneously, we had huge tax breaks for billionaires on the basis of “trickle-down economics,” i.e., the idea that rich people, if they were made even richer, would hire more people.
For some reason, this idea was widely accepted, certainly not by economists, but by the working class, who couldn’t put together the notion that no one hires people except when they’re hit by market forces.
Where do you get pizza? Do you think for a second that the owner of a pizzeria wants more employees to make and deliver your pizza than is absolutely required to keep his customers happy? No, and guess what. That applies to everyone, from the local mom-and-pop shop to the Fortune 500.
The Well-Being of Working Class Americans Hit a Downturn in 1980
This is what we voted for; it’s what carried the day in 2024.
Twenty years ago, you wouldn’t have been able to get one out of ten Americans to agree to such a blatantly racist and hateful statement.
From DW Africa:
Burkina Faso’s military leader, Ibrahim Traore, has said the country should “forget about democracy,” in one of his clearest signs yet that military rule could continue for years. Traore seized power in a coup in September 2022, overthrowing another junta that had itself taken control just nine months earlier. Since then, he has tightened his grip on power, suppressing opposition and banning political parties in January. He had initially promised a return to civilian rule, but later delayed elections, arguing that Burkina Faso remained too insecure because of ongoing Islamist insurgencies. Last year, the junta extended the transition period, allowing Traore to stay in office until 2029. His remarks suggest Burkina Faso is moving even further away from its earlier pledge to restore democratic governance.
The story above is an extremely common one in the developing world and illustrates a critically important point: once a democracy is lost, it’s almost impossible to recover.
America: Take Heed.
Although we can’t see behind the scenes, it appears that what I predicted is actually happening. i.e., that out top generals and admirals are refusing help the Trump administration commit war crimes.
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