US Economic Data 1968-1979

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Comparison of US Economic Data
in the United States
Data Range
YearCPI
%
M2M2 new
$ billion
M2
change
%
GDP
$ billion
GDP
change
%
Issue
 19684.2385.17545.38.273765.43.09 
 19695.37401.29578.736.133771.90.17 
 19705.920601.463.933898.63.36 
 19714.470674.4112.134105.05.29 
 19723.210758.1712.424341.55.76 
 19736.220831.769.714319.6-0.50 
 197411.040880.565.874311.2-0.19 Watergate scandal
 19759.130963.59.424540.95.33 
 19765.7601086.5312.774750.54.62 
 19776.501221.1912.395015.05.57 
 19787.5901322.238.275173.43.16 
 197911.3501425.677.825161.7-0.23 
 Notes:

1929-1939: “A Decade that will live — in stupidity.”

Why Stuck on Stupid?

Seventy years ago the leaders of both US political parties turned away from the policies that had created an economic powerhouse we call the Roaring Twenties. For ten long years Americans suffered through wrenching economic dislocations: deflation, inflation, a four-year economic contraction, endless unemployment, mindless political experiments, and ruthless attacks on businessmen for political gain as their leaders stayed Stuck on Stupid.

Today, after a twenty-five year economic boom, Americans are once more faced with a political elite that wants to monkey with success. It wants to raise tax rates. It wants to restrict trade. It wants to increase government power.

It’s time to look back and remind ourselves how it came to be, starting in 1929, that America got itself Stuck on Stupid. Otherwise it could happen again.

 — Christopher Chantrill

 

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