- 1971. 1971 This could well be the year that marked the start of the digital age when the Microprocessor was invented.
- 26th Amendment. People had been wanting the voting age to be lowered to 18 years old ever since FDR lowered the draft age to 18 years during World War II.
- Border battles between India and Pakistan. More Information for the India and Pakistan conflict. The Bangladesh Liberation War begins in March of 1971 after the Pakistan military attacked Bengali civilians.
- Disney World Opens. The Walt Disney World Theme Park is opened. Walt Disney begins secretly purchasing large tracts of land in central Florida in 1965.
- Qatar. Qatar becomes independent from Great Britain. The nation of Qatar became independent from the United Kingdom during September of 1971.
- United States - Apollo 14. NASA’s Apollo 14 mission to the Moon was launched on January 31st. ...
- Soviet Union - First Space Station. The Soviet Union launches the first space station, Salyut 1, into low Earth orbit April 19th. ...
- Mariner 9. Mariner 9 becomes the first spacecraft to orbit another planet in November. ...
- Pentagon Papers. The New York Times begins to publish sections of the Pentagon Papers starting on June 13th showing the US Government had been lying to the American People.
- United Arab Emirates - UAE Established. The United Arab Emirates (UAE) was created on December 2nd when it established independence from the United Kingdom after nearly 80 years of British ...
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What Happened in 1971 Important News and Events, Key Technology and Popular Culture. What happened in 1971 Major News Stories include Intel releases world's first microprocessor, the 4004, Aswan Dam is completed, Charles Manson and three of his followers receive the death penalty, National Public Radio (NPR) broadcasts for the first time, Walt Disney World Resort opens in Florida, Mount Etna erupts, Voting Age Lowered US and UK to 18, UK Moves to Decimal Currency, San Fernando Valley ...
The year 1971 had three partial solar eclipses (February 25, July 22 and August 20) and two total lunar eclipses (February 10, and August 6). The world population increased by 2.1% this year, the highest increase in history.
- The Johnson Administration
- The Nixon Administration
- Ford Administration
- Carter Administration
- See Also
Climax of liberalism
The climax of liberalism came in the mid-1960s with the success of President Lyndon B. Johnson (1963–69) in securing congressional passage of his Great Society programs, including civil rights, the end of segregation, Medicare, extension of welfare, federal aid to education at all levels, subsidies for the arts and humanities, environmental activism, and a series of programs designed to wipe out poverty.As a 2005 American history textbook explains: 1. Gradually, liberal intellectuals crafted...
The term "The Sixties" covers inter-related cultural and political trends around the globe. This "cultural decade" began around 1963 with the Kennedy assassination and ending around 1974 with the Watergate scandal.
Shift to the extremes in politics
The common thread was a growing distrust of government to do the right thing on behalf of the people. While general distrust of high officials had been an American characteristic for two centuries, the Watergate scandal of 1973–1974 forced the resignation of President Richard Nixon, who faced impeachment, as well as criminal trials for many of his senior associates. The media was energized in its vigorous search for scandals, which deeply impacted both major parties at the national, state, an...
Although generally regarded as a conservative, President Richard Nixon adopted many liberal positions, especially regarding health care, welfare spending, environmentalism and support for the arts and humanities. He maintained the high taxes and strong economic regulations of the New Deal era and he intervened aggressively in the economy. In August 1971, he took the nation off the gold standard of the Bretton Woods system and imposed (for a while) price and wage controls (Nixon Shock). During his final year in office, Nixon also proposed a national health care system. Nixon reoriented US foreign policy away from containment and toward detente with both the Soviet Union and China, playing them against each other (→ Cold War#From confrontation to détente (1962–1979)). The detente policy with China is still the basic policy in the 21st century, while the Soviet Union (SU) rejected detente and used American toleration to over-expand their operations in Latin America, Asia and Africa (→...
Aware that he had not been elected to either the office of president or vice-president, Gerald Ford addressed the nation immediately after he took the oath of office, pledging to be "President of all the people," and asking for their support and prayers, saying "Our long national nightmare is over." Ford's administration witnessed the final collapse of South Vietnam after the Democrat-controlled Congress voted to terminate all aid to that country. Ford's attempts to curb the growing problem of inflation met with little success, and his only solution seemed to be encouraging people to wear shirt buttons with the slogan WIN (Whip Inflation Now) on them. He also appointed a Supreme Court justice, John Paul Stevens, who retired in 2010. During Ford's administration, the nation also celebrated its 200th birthday on July 4, 1976, widely observed with national, state, and local celebrations. The event brought some enthusiasm to an American populace that was feeling cynical and disillusione...
The Watergate scandal was still fresh in the voters' minds when former Georgia governor Jimmy Carter, a Washington, D.C. outsider known for his integrity, prevailed over nationally better-known politicians in the Democratic Party Presidential primaries in 1976. Faith in government was at a low ebb, and so was voter turnout. Carter became the first candidate from the Deep South to be elected President since the American Civil War. He stressed the fact that he was an outsider, not part of the Beltway political system, and that he was not a lawyer. Carter undertook various populist measures such as walking to the Capitol for his inauguration and wearing a sweater in the Oval Office to encourage energy conservation. The new president began his administration with a Democratic Congress. Democrats held a two-thirds supermajority in the House, and a filibuster-proof three-fifths supermajority in the Senate for the first time since the 89th United States Congress in 1965, and the last time...
Nov 24, 2009 · As millions watched in horror the events unfolding in New York, American Airlines Flight 77 circled over downtown Washington, D.C. and slammed into the west side of the Pentagon military...
- 1970. In May 1970, the Vietnam War was raging on, and President Richard Nixon invaded Cambodia. On May 4, 1970, students at Kent State University in Ohio staged protests that included setting fire to the ROTC building.
- 1971. In 1971, a relatively quiet year, London Bridge was brought to the U.S. and reassembled in Lake Havasu City, Arizona, and VCRs, those magical electronic devices that allowed you to watch movies at home anytime you like or record TV shows, were introduced.
- 1972. In 1972, major news was made at the Olympic Games in Munich: Terrorists killed two Israelis and took nine hostages, a firefight ensued, and all nine Israelis were killed along with five of the terrorists.
- 1973. In 1973, the Supreme Court made abortion legal in the United States with its landmark Roe v. Wade decision. Skylab, America's first space station, was launched; the U.S. pulled its last troops out of Vietnam, and Vice President Spiro Agnew resigned under a cloud of scandal.
Jul 03, 1971 · Sports in 1971. NBA – Milwaukee Bucks beat Baltimore Bullets (4 - 0) to win the NBA Finals. NHL – Montreal Canadiens beat Chicago Blackhawks (4 - 3) to win the Stanley Cup. NFL – Baltimore Colts beat Dallas Cowboys (16 - 13) to win Super Bowl V on January 17, 1971 in Miami, FL.
Oct 09, 1971 · What happened on October 9th. Below are some of the most important historical events that happened on 9 October 1971. 768 – Charlemagne and his brother Carloman I are crowned Kings of The Franks. 1000 – Leif Ericson discovers "Vinland" (possibly L'Anse aux Meadows, Canada) reputedly becoming first European to reach North America.
- Interest Rate Casualties
- How and Why
- Winning Elections
- Because I Say So!
- The Bottom Line
This is the gruesome story of the great inflation of the 1970s, which began in late 1972 and didn't end until the early 1980s.8 In his book, "Stocks for the Long Run: A Guide for Long-Term Growth" (1994), Wharton professor Jeremy Siegel, called it "the greatest failure of American macroeconomic policy in the postwar period."9 The great inflation was blamed on oil prices, currency speculators, greedy businessmen, and avaricious union leaders. However, it is clear that monetary policies, which financed massive budget deficits and were supported by political leaders, were the cause. This mess was proof of what Milton Friedman said in his book, Money Mischief: Episodes in Monetary History: Inflation is always "a monetary phenomenon."10 The great inflation and the recession that followed wrecked many businesses and hurt countless individuals.11 5 Interestingly, John Connally, the Nixon-installed Treasury Secretary who did not have formal economics training, later declared personal b...
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 Keynesian.15 16 17 John Maynard Keynes was an influential British economist of the 1930s and 1940s. He had advocated revolutionary measures: Governments should use countercyclical policies in hard times, running deficits in recessions and depressions. Before Keynes, governments in bad times had generally balanced budgets an...
Still, President Nixon's primary concern was not dollar holders or deficits or even inflation. He feared another recession. He and others that were running for re-election wanted the economy to boom. The way to do that, Nixon reasoned, was to pressure the Fed for low-interest rates. Nixon fired Fed Chair William McChesney Martin and installed presidential counselor Arthur Burns as Martin's successor in early 1970.206 Although the Fed is supposed to be solely dedicated to money creation policies that promote growth without excessive inflation, Burns was quickly taught the political facts of life. Nixon wanted cheap money: low-interest rates that would promote growth in the short-term and make the economy seem strong as voters were casting ballots.21
In public and private Nixon turned the pressure on Burns. William Greider, in his book, Secrets of the Temple: How the Federal Reserve Runs The Country, reports Nixon as saying: "We'll take inflation if necessary, but we can't take unemployment."22 The nation eventually had an abundance of both. Burns, and the Fed's Open Market Committee which decided on money creation policies, soon provided cheap money. The key money creation number, M1, which is total checking deposits, demand deposits, and traveler's checks, went from $228 billion to $249 billion between December 1971 and December 1972, according to Federal Reserve Board numbers. As a matter of comparison, in Martin's last year, the numbers went from $198 billion to $206 billion.23 The amount of M2 numbers, measuring retail savings and small deposits, rose even more by the end of 1972, from $710 billion to $802 billion.24 It worked in the short term. Nixon carried 49 out of 50 states in the election. Democrats easily held Con...
It would take another Fed chair and a brutal policy of tight money—including the acceptance of a recession—before inflation would return to low single digits.25 But, in the meantime, the U.S. would endure jobless numbers that exceeded 10%.3Millions of Americans were angry by the late 1970s and early 1980s. Yet few remember Burns, who in his memoirs, Reflections of an Economic Policy Maker (1969-1978), blames others for the great inflation without mentioning the disastrous monetary expansion. Nixon doesn't even mention this central bank episode in his memoirs. Many people who remember this terrible era blame it all on the Arab countries and oil pricing. Still, the Wall Street Journal, in reviewing this period in January 1986 said, "OPEC got all the credit for what the U.S. had mainly done to itself."26