This phenomenon was discussed here in a comment to a post on 2022-09-15 on “Le Chatelier’s Principle”, citing the “WTF Happened In 1971?” site mentioned in this article, where many more charts are presented which appear to have dramatic inflection points around 1971, and not just in the U.S. but globally.
It’s almost like somebody started messing with the money in which global commerce is conducted and is used for long-term investment in the human future. As that page concludes,
I don’t believe we shall ever have a good money again before we take the thing out of the hands of government, that is, we can’t take it violently out of the hands of government, all we can do is by some sly roundabout way introduce something that they can’t stop.
— F.A. Hayek 1984