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Notes -
No, it didn’t.
You are mistaking correlation for causation, here. Look at previous drops in the rate. Was 2002 particularly globalist? Was the mid-80s? Interest rates are raised in times of inflation and slashed after a recession, forming one of the fundamental control systems of the economy. The industries which grow in that space depend on other trends.
If you are correct that woke culture is downstream of globalist and/or narrow-margin products, those are a consequence of our transition from manufacturing to service industries. That’s driven not by the Fed but by comparative advantage with other countries. Back in the 50s we had the edge in tech, raw materials, and not being bombed to hell. Now India and China can compete on price, so we’ve shifted more towards intellectual and interpersonal labor. This would have happened regardless of the interest rates.
I don’t think you’re correct, mind you. Consider Wal-Mart. Narrow margins, global supply chains, and a completely different approach than Silicon Valley tech. It makes money by connecting producers to consumers. The network effects are subject to measurable market forces. In contrast, parts of fintech and all of social media aren’t competing on price, but on brand. You can’t eat Facebook’s lunch by undercutting them. What’s left but weird political signaling?
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