Nope it started in the 1960's, with the election of JFK, a technocrat elitist, and the Feds looking the other way when Citibank invented the 'certificates of deposit' scam and allowed an illegal market in those to be set up. After that other dominoes began to fall, bubbles requiring Fed bailouts and all the rest began almost immediately, in 1965 and almost like clockwork ever since. Small and medium sized businesses were bought up or bankrupted, destroying the real 'middle class' of business people and replacing them with a middle class of corporate bureaucrats and loan sharks.