Nixon tried the price control trick, and it failed. Prices went up anyway, and a whole lot faster. So when Carter got in, it was really bad and people blamed him, when it was actually Nixon taking us off the gold standard that was the root cause.
I was in college and then out on my own working through the 70s. I would have done much better if I had been better at managing my money. And bought Microsoft when it first went public. :)
Ditto. I remember and experienced. Also. Dic's EPA started the destruction of our private industrial manufacturing capabilities. Returned home after service and the plants were shutting down. Gasoline went from $.29 to $.79. Food prices doubled in a few months.
In 1974, gas where I lived was 52.9. It went down to 47.9 by early 1975, but then started its long steady rise.
I know it was around 60 cents when my father had the local distributor bring a load to his house and filled up a large tank hidden in an outbuilding. He was using 60 cent gas after the price had gone past 80 cents.
In times of inflation, stocking up is better than putting money in the bank.
Nixon tried the price control trick, and it failed. Prices went up anyway, and a whole lot faster. So when Carter got in, it was really bad and people blamed him, when it was actually Nixon taking us off the gold standard that was the root cause.
The 70s were miserable. Even as a kid, I knew. 50 years later, here we are again.
I was in college and then out on my own working through the 70s. I would have done much better if I had been better at managing my money. And bought Microsoft when it first went public. :)
Ditto. I remember and experienced. Also. Dic's EPA started the destruction of our private industrial manufacturing capabilities. Returned home after service and the plants were shutting down. Gasoline went from $.29 to $.79. Food prices doubled in a few months.
In 1974, gas where I lived was 52.9. It went down to 47.9 by early 1975, but then started its long steady rise.
I know it was around 60 cents when my father had the local distributor bring a load to his house and filled up a large tank hidden in an outbuilding. He was using 60 cent gas after the price had gone past 80 cents.
In times of inflation, stocking up is better than putting money in the bank.