Ban my account ffs!
snowguy716
Atlas Star
Posts: 22,632
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« on: January 01, 2019, 12:29:27 PM » |
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It was a combination of ending the Bretton Woods system, overspending on Vietnam, the coming of age of the Baby Boomers (who put strain on the labor market and demand for housing, etc), and of course the oil crisis.
Oil prices doubled overnight... we had “lost” in Vietnam, the postwar glow was over...the US found itself a bit aimless, as it were. It was really a collective malaise in which the economy played only a part.
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