Economics in the 70s by Tyler Hurst

Economics in the 70s by Tyler Hurst https://padlet.com/2024tylerhurst/hvvim3njekm46i3a Made by Tyler Hurst en-us 2021-12-10 20:50:49 UTC 2025-10-07 15:26:25 UTC hello@padlet.com Water Gate June 17, 1972 2024tylerhurst https://padlet.com/2024tylerhurst/hvvim3njekm46i3a/wish/1941089139 In the 1970s, the U.S. stock market endured one of the longest and most brutal bear markets in its history. After the Dow nearly topped 1,000 — topping out at 990 — for the first time in 1966, it would not regain this level on a closing basis until 1982. It would never trade below that level again.

In 1979, BusinessWeek famously published its cover declaring the “Death of Equities.” Inflation was running in double-digits while unemployment rose as “stagflation” riddled the economy.

In the months around Watergate, there was certainly political turmoil for investors to worry about, but the economic headwinds were far more problematic for the stock market, which endured one of its worst stretches in history.

]]> 2021-12-10 20:54:21 UTC https://padlet.com/2024tylerhurst/hvvim3njekm46i3a/wish/1941089139 Three mile island 2024tylerhurst https://padlet.com/2024tylerhurst/hvvim3njekm46i3a/wish/1945553556 The Three Mile Island nuclear power plant accident had an immediate negative impact on the economy of the seven-country area which surrounds the plant site. In order to estimate the social effect of the nuclear power plant accident economically, immediate and short term economical impacts on some industrial classification have been evaluated. The economical effect to Metropolitan Edison Co., the circumstantial payment of the insurance and the lawsuit for the compensation for damages, etc. have been estimated at dollar 90 million for the manufacturing and nonmanufacturing industry, dollar 5 million for the tourist industry and dollar 50,000 for agriculture. The total loss for the state and country governments is about dollar 90,000. Metropolitan Edison Co. expended also dollar 111 million for the substitute energy and dollar 760 million for the decontamination cost. Since the lawsuit for the compensation for damages is still continuing, the total impacts cost is calculated more than a billion dollar.]]> 2021-12-13 20:47:32 UTC https://padlet.com/2024tylerhurst/hvvim3njekm46i3a/wish/1945553556 Munch Massacre 2024tylerhurst https://padlet.com/2024tylerhurst/hvvim3njekm46i3a/wish/1945562316 The 1972 Olympics in Munich, best known for the massacre of 11 Israeli athletes, were also a big economic loss at first; yet the investments made helped attract tourists over the following years
The 1972 Olympic Games in Munich were supposed to be a joyous occasion; Munich was set to celebrate a festival of peace. Over a quarter of a century after the disastrous war unleashed by the Nazis, Germany wanted to present itself as a modern and democratic state. Reminders of the 1936 Olympic propaganda in Berlin were nowhere to be found.

For 10 days, the Munich Games were indeed lively and cheerful – until the morning of September 5. At around 4:35 a.m., eight members of the Palestinian terrorist group Black September stormed the Israeli athletes' quarters in the Olympic Village. They demanded the release of 232 Palestinians imprisoned by Israel, along with left-wing militants Andreas Baader and Ulrike Meinhof of Germany, and Kozo Okamoto of Japan.
The

]]> 2021-12-13 20:52:26 UTC https://padlet.com/2024tylerhurst/hvvim3njekm46i3a/wish/1945562316 Highest inflation rates ever 2024tylerhurst https://padlet.com/2024tylerhurst/hvvim3njekm46i3a/wish/1945565193 Upon his inauguration in 1969, Nixon inherited a recession from Lyndon Johnson, who had simultaneously spent generously on the Great Society and the Vietnam War.11 Congress, despite some protests, went along with Nixon and continued to fund the war and increased social welfare spending. In 1972, for example, both Congress and Nixon agreed to a big expansion of Social Security—just in time for the elections.13

Nixon came to office as a supposed fiscal conservative. Still, one of his advisors would later classify Nixonomics as "conservative men with liberal ideas."14 Nixon ran budget deficits, supported an income policy, and eventually announced that he was a

]]> 2021-12-13 20:54:24 UTC https://padlet.com/2024tylerhurst/hvvim3njekm46i3a/wish/1945565193 Energy Crisis 2024tylerhurst https://padlet.com/2024tylerhurst/hvvim3njekm46i3a/wish/1945568104 In 1973, Secretary of Commerce Peter Peterson remarked, “The era of low-cost energy is almost dead.” Americans paid the price as prosperity came to an end. The oil embargo of 1973–1974 and subsequent crises stretched across the decade and had a deep impact on everyday life.]]> 2021-12-13 20:56:25 UTC https://padlet.com/2024tylerhurst/hvvim3njekm46i3a/wish/1945568104 1973-1975 Ressesion 2024tylerhurst https://padlet.com/2024tylerhurst/hvvim3njekm46i3a/wish/1945570408 The 1973–1975 recession or 1970s recession was a period of economic stagnation in much of the Western world during the 1970s, putting an end to the overall post–World War II economic expansion. It differed from many previous recessions by being a stagflation, where high unemployment and high inflation existed simultaneously.]]> 2021-12-13 20:57:56 UTC https://padlet.com/2024tylerhurst/hvvim3njekm46i3a/wish/1945570408