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Old Nov 7th 2016, 09:58 AM
Tom Palven Tom Palven is offline
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Join Date: Nov 2010
Posts: 2,045
Default One Decade- 1968-1978

I968 Richard Nixon elected President, sworn in on Quaker family Bible turned to page containing 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 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 and the eventual "quantitative easing" and $20 trillion debt.

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

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

1976 Jimmy Carter was elected President. On his second day in office he pardoned Vietnam War draft-dodgers.

1978 The Carter administration expanded the US bureaucracy with the creation of the Departments of Energy and Education.

In 1978 the Chinese Communist Party picked free market advocate Deng Xiaoping to lead them out of their economic nightmare. It worked, and 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.
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