I'll take Afghani anti-Soviet insurgency for $200, Alex.
On Thu, Feb 19, 2009 at 4:50 PM, Max Sawicky <[email protected]> wrote: > and Prop 13, in some nutty place called California. > > > > On Thu, Feb 19, 2009 at 4:28 PM, Jim Devine <[email protected]> wrote: >> My sister asked me: >> >> What were the Major Economic News Stories 1978-1984? >> >> My answer: >> >> 1. The 1979 Iranian revolution, which led to soaring oil prices >> afterward, especially when it turned into the Iraq/Iran war. >> >> 2. This encouraged stagflation in the US, meaning high inflation >> combined with rising unemployment. (This added to the pre-existing >> stagflation and encouraged Jimmy Carter to talk about a "malaise.") >> >> 3. The Three Mile Island disaster of March 1979. >> >> 4. The appointment of Paul Volcker to run the Federal Reserve in >> August 1979 led to a new anti-inflationary tilt for policy and started >> the movement toward Calvin Coolidge Capitalism ("the business of >> America is business") we've seen growing since then. >> >> 5. There was a short-lived recession in 1980, aimed at fighting >> inflation. This was not very successful. When added to the Iran >> hostages debacle, it helped chase Carter out of office. >> >> 6. The bank reform legislation of 1980 (Depository Institutions >> Deregulation and Monetary Control Act) and 1982 (Garn-St. Germain) >> which allowed the Savings & Loan sector to do a lot of new things, >> setting the U.S. up for the S&L debacle of the late 1980s. >> >> 7. There was a short recovery, followed by the long and deep recession >> of July 1981 to November 1982, which got us up to above 10% >> unemployment in from September 1982 to June 1983 (peaking at 10.8% in >> Nov.-Dec. 1982). As usual, the job situation stayed bad even after the >> recession officially ended. >> >> 8. The Reagan tax cuts, mostly for the rich, during 1981-83. >> >> 9. There was the beginnings of a recovery, starting about 1984. >> >> This list is mostly about macroeconomics, but I hope it helps. >> ---------------------- >> >> Can any pen-pals suggest additions to (or subtractions from) this list? >> >> -- >> Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own >> way and let people talk.) -- Karl, paraphrasing Dante. >> _______________________________________________ >> pen-l mailing list >> [email protected] >> https://lists.csuchico.edu/mailman/listinfo/pen-l >> > _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
