Once Upon a Decade

Discussion in 'History & Past Politicians' started by Tommy Palven, Feb 22, 2017.

  1. Tommy Palven

    Tommy Palven Active Member Past Donor

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    1968-1978


    In I968 Richard Nixon was elected President and sworn in on Quaker family Bible turned to a page containing the phrase "beating swords into plowshares."

    1972 Nixon visited Moscow and negotiated an Anti-Ballistic Missile Treaty with Russia, and was the first sitting President to visit China, establishing relations there.

    Nixon then took the US off what remained of the gold/silver standard with silver coins being changed to silver-colored copper coins, and said "We are all Keynesians now," opening the door to unlimited spending, "quantitative easing," and a $20 trillion debt.

    During the same period the Nixon administration declared a "war on drugs" and initiated the No-Knock Laws, co-sponsored in the Senate by Democrat Ted Kennedy, which gradually led to the militarization of US police.

    In 1973 Nixon ended conscription and withdrew US troops from Vietnam.

    1976 Jimmy Carter was elected President, and on his second day in office pardoned Vietnam War draft-dodgers.

    1978 The Carter administration expanded the US bureaucracy with the creation of the Departments of Energy and Education. Great human being, but with too much faith in bureaucracy.

    Meanwhile in 1978 the Chinese Communist Party picked free market advocate Deng Xiaoping to lead them out of their economic nightmare.
    It worked, although for the last four decades central command economists like Paul Krugman and Robert Reich have been chanting a mantra that the Chinese economy is overheated and about to crash.

    So far, this prediction has been as inaccurate as all their other predictions, and currently the Chinese government is trying to encourage the development of it's service industries which he US dominates.
    http://www.forbes.com/sites/sarahsu...-step-towards-a-service-economy/#f3cf1ad1e367
     

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