MALAISE 1974-1980

MALAISE1974-1980

EUGENIA LANGANMATER ACADEMY CHARTER HIGH SCHOOLHIALEAH GARDENS, FLORIDA

ESSENTIAL QUESTIONS:

TODAY

WHY MALAISE?

WHAT LED TO THE CONSERVATIVE REVOLUTION OF 1980?

LONG-RANGE

HOW HAS THE AMERICAN IDENTITY (SELF-IMAGE) CHANGED THROUGHOUT OUR HISTORY, AND WHY?

WHEN DID THE ERA OF PROGRESSIVE REFORM BEGIN AND END, AND WHY?

WE WENT THROUGH THE VERY DIVISIVE AND VIOLENT 1960s

WE LOST A WAR FOR THE FIRST TIME

A PRESIDENT AND VICE PRESIDENT WERE FORCED TO RESIGN FOR THE FIRST TIME

CREDIBILITY GAP

WOUND UP WITH UNELECTED PRESIDENT, VEEP - ONE TERM

THEN INEXPERIENCED CHANGE PRESIDENT – ONE TERM

AS ALWAYS, "IT'S THE ECONOMY, STUPID!"

BUT INSTEAD OF GROWING MORE RADICAL, MOST PEOPLE GREW MORE CONSERVATIVE

GERALD W. FORD – ONE TERM!

UNELECTED

NIXON PARDON

OPEC OIL EMBARGO INFLATION/ STAGFLATION RECESSION OF 1974

WIN FED INCREASED INTEREST RATES TAX CUTS "TO CREATE JOBS" DEFICITS! MORE WOMEN AND CHILDREN WORKING

REAL WAGES PEAKED IN 1974 AND DECLINED UNTIL 1982 – NOTE THEY HAVE NEVER RETURNED TO '74 LEVEL

REMEMBER THIS CHART? % 0F NATIONAL WEALTH HELD BY TOP 1% WEALTHIEST INDIVIDUALS: NOTE THE TREND SINCE MID-1970s. TODAY TOP 10% HOLD 75%, TOP 1% HOLD 40.4 (DUE TO BUSH TAX CUTS, GREAT RECESSION OF 2007 AND BANK/ CORPORATE BAILOUTS

INCOME DISTRIBUTION

OIL PRICES -- WHEN THEY GO UP SO DO THE PRICES OF ALMOST ALL OTHER GOODS (ALL THAT MUST BE TRANSPORTED!)

1973 – OPEC OIL EMBARGO

1979 – OIL CRISIS DUE TO IRANIAN REVOLUTION

OVER DECADES – GDP FLAT AND MODEST

DECLINE OF SKILLED INDUSTRIAL JOBS

'74-76 – EFFECT OF FORD TAX CUTS W/ NO SPENDING CUTS

"WHIP INFLATION NOW" – A FAILURE"STUPID IDEA" ACCORDING TO ALAN GREENSPAN

THE MAYAGUEZ INCIDENT, 1975: "WAG THE DOG"

FORD'S APPROVAL RATINGS –NOTE THE UPTICK IN '75 DUE TO THE MAYAGUEZ INCIDENT

1976: JIMMY CARTER AND WALTER MONDALE (ONLY 50.1% OF POPULAR VOTE)

CARTER'S MAIN QUALIFICATION: NOT A WASHINGTON INSIDER

WALKING TO THE INAUGURATION

THE SWEATER, THE FIRESIDE CHATS, AND . . .

CARTER:

ENERGY CRISIS: "MEOW" – THE MORAL EQUIVALENT OF WAR

DEPARTMENT OF ENERGY, 1977

NATIONAL ENERGY ACT, 1978

DEREGULATION OF OIL PRICES, TAX SUBSIDIES (ENERGY POLICY ACT)

1979 – WINDFALL OIL PROFITS TAX

SURFACE COAL MINING AND RECLAMATION ACT. OPPOSITION TO NUCLEAR ENERGY

COMPREHENSIVE ENVIRONMENTAL RESPONSE, COMPENSATION, AND LIABILITY ACT OF 1980 (CERCLA) -- SUPERFUND

DEREGULATION OF TRANSPORTATION RATES (STAGGERS RAIL ACT, 1979, MOTOR CARRIER ACT, 1980)

WORSE INFLATION – FED IMPOSED DOUBLE-DIGIT INTEREST RATES (SLOWDOWN)

RECESSION, 1978

PANAMA CANAL TREATY, 1978

IRANIAN REVOLUTION, 1979

HOSTAGE CRISIS AND BOTCHED RESCUE ATTEMPT, 1980

REGENTS OF THE UNIVERSITY OF CALIFORNIA V. BAKKE, 1980. BURGER COURT.

LAWSUIT BY WHITE MAN DENIED ADMISSION TO UC DAVIS MED. SCHOOL ALLEGING “REVERSE DISCRIMINATION” DUE TO UNIVERSITY’S AFFIRMATIVE ACTION PROGRAM

HOLDING: AFFIRMATIVE ACTION IS LAWFUL AS A REMEDY FOR PAST DISCRIMINATION, BUT IT CANNOT IMPOSE QUOTAS.

ELECTION OF 1980: RONALD REAGAN, GEORGE H.W. BUSH, 50.7% OF POPULAR VOTE, CARTER/ MONDALE 41%

MORNING IN AMERICA?