Problems of wtfhappenedin1971.com

The site has some real observations and some genuinely interesting charts. [1]

Some of the trends shown on the site do reflect real long-term economic problems.

For example:

• rising inequality
• weaker housing affordability
• asset prices outpacing wages

These are not invented issues and they are visible in mainstream economic research as well. [2][3]

But the biggest problem is that it constantly jumps from correlation to causation.

Basically:

• Something changes after 1971
• another thing also changes after 1971
• therefore 1971 caused it

That is an amateur-level causality mistake.

The site builds a huge narrative around the end of the gold standard, while mostly ignoring how many other massive things were happening at the same time:

• globalization
• computers
• the internet
• automation
• urbanization
• financialization
• demographics
• oil crises
• geopolitical changes
• China entering the global economy

A lot of the charts are technically real. That is not really the issue.

The issue is the implication that one single event explains almost everything.

The presentation style is also very emotionally engineered.

Things are framed to maximize emotional impact:

• dramatic charts
• scary scaling
• red colors
• selective framing
• no balancing context

It is a good example of:

statistics can technically be true while still creating a misleading overall picture.

The site also underplays how much life has materially improved.

People often focus only on:

• debt
• housing prices
• inequality
• inflation

while ignoring:

• technological progress
• medicine
• product quality
• access to information
• energy efficiency
• safety
• convenience
• global product availability

A 2026 home is massively more advanced than a typical 1970s home.

Modern homes usually have:

• better insulation
• better ventilation
• better energy efficiency
• safer electrical systems
• better heating
• better materials
• internet infrastructure
• smart systems

The same applies to products in general.

People compare:

• the best surviving products from the 1970s

against:

• cheap mass-market modern products

which is not a fair comparison.

Modern life also gives people far more choice.

You can buy:

• cheap junk
• high-end premium products
• niche products
• custom products

The range is infinitely larger now.

Inflation discussions are also oversimplified.

CPI is not some universal human experience.

Different people experience inflation completely differently depending on:

• housing
• transportation
• lifestyle
• location
• technology usage
• family structure

That is why people often feel:

“statistics are lying”

when in reality the problem is usually that aggregate statistics do not perfectly describe individual lived experience.

The site also heavily feeds confirmation bias.

If you collect enough negative charts, you can build a narrative that civilization is collapsing.

But selecting only supporting examples is not neutral analysis.

Hyperinflation examples are another good example.

Many major hyperinflation crises had far more to do with:

• state collapse
• political chaos
• war
• institutional failure
• monetary mismanagement

than with simply abandoning the gold standard.

For example, many 1990s inflation disasters were connected to the collapse of the Soviet Union and related economic chaos.

There is also a tendency to romanticize the past.

Most people talking about how much better things were in the 1970s would not actually want:

• 1970s medicine
• 1970s cars
• 1970s information access
• 1970s communication systems
• 1970s home technology
• 1970s product selection

The site is very good at creating a compelling emotional story.

But emotionally compelling is not the same thing as rigorous analysis.