1973 Inflation has a significant impact on peoples
lives around the world with the UK inflation rate running at 8.4% and
the US running at 6.16% . This causes problems in every aspect of peoples
lives from the price of Gas, Food and Bills , which in turn causes higher
wages and the spiral continues, much of this is caused by the Arab members
of the (OPEC) restricting the flow of oil to countries supporting Israel
as part of the Yom Kippur War. And the start of a Recession in Europe
causing increased unemployment and a 3 day week in the UK. Meanwhile in
the US two important cases dominate the news with Roe v. Wade making abortion
a US constitutional right and the start of the Watergate hearings in the
US Senate, and due to price increase of gas the Japanese car manufacturers
with smaller engines and more efficient have an impact of the US car industry
Cost of Living 1973
How Much things cost in 1973
Yearly Inflation Rate USA 6.16%
Year End Close Dow Jones Industrial Average 850
Average Cost of new house $32,500.00
Average Income per year $12,900.00
Average Monthly Rent $175.00
Cost of a gallon of Gas 40 cents
AMC Javelin car $2,900.00
A Dozen Eggs 45 cents
What Events Happened in 1973
Arab members
of the Organization of Petroleum Exporting Countries (OPEC),
announce they will restrict flow of crude oil to countries supporting
Israel causing price of oil to increase by 200%
Recession
begins in Europe following OPEC Oil price increases
Roe v. Wade
makes abortion a US constitutional right
Britain Ireland
and Denmark join the EEC
Chrysler
and other US car makers close a number of plants affecting 100,000 workers
US Troops withdrawn
from Vietnam and U.S. involvement in Vietnam War ends with the signing
of peace
World Trade Center
in New York becomes the tallest building in the world
Supreme Court
of the United States rules on Roe v. Wade.
IRA bombs explode
in the Whitehall and the Old Bailey.
Watergate Hearings
begin in the United States Senate and President Richard Nixon tells
the nation , “I am not a crook.”
Yom Kippur
War - Fourth and largest Arab-Israeli conflict begins as Egyptian
and Syrian forces attack Israel
Sydney Opera House
is opened
Armed members
of the American Indian Movement and their supporters seize the old town
of Wounded Knee in South Dakota
Israel
Shoots Down Libyan Passenger Plane
In a Tennis Match
billed as the battle of the sexes Mrs Billy Jean King defeats Bobby
Riggs
Belize Gains Independence
From Great Britain
A referendum in
Northern Ireland results in a vote to stay as part of the United Kingdom
Secretariat
Wins Triple Crown first winner for 25 years
The Bahamas Gains
Independence From Great Britain
Royal Navy Protect
Trawlers in Cod War In Icelandic Waters
The Mississippi River reaches its peak
level in St. Louis during a record 77-day flood
Popular Culture 1973
Popular Films
The Exorcist
Deliverance
Live and Let Die
Paper Moon
Dark Side Of The Moon Reminded by
Pink Floyd Fan
Last Tango in Paris
Jesus Christ Superstar
American Graffiti
Lady Sings the Blues
The Sting
Popular Musicians
Stevie Wonder
ABBA
The Eagles
John Lennon
Paul Simon
Pink Floyd " Dark Side Of The Moon "
Rod Stewart
Michael Jackson
Elton John with " Crocodile Rock "
Rolling Stones with " Angie "
The Moody Blues
David Bowie
Led Zeppelin
Wizzard
Electric Light Orchestra
Paul McCartney and Wings with " My Love
"
Bob Marley and the Wailers
Diana Ross
Popular TV Programs
The Odd Couple
The Partridge Family
Columbo
Masterpiece Theater
McMillan and Wife
Old Grey Whistle Test (UK)
Are You Being Served? (UK)
Colditz (UK)
Emmerdale Farm (UK)
M*A*S*H
Sanford and Son
The Bob Newhart Show
The Price Is Right
The Waltons
Technology 1973
Skylab, the
United States' first space station, is launched
The Sears Tower opens in Chicago
Inventions Invented by Inventors and Country
( or attributed to First Use )
Genetic Engineering
USA by S Cohen and H Boyer
Barcode USA
Optical Fiber USA
Space Station USA Skylab
Jetski or Personal Watercraft USA Clayton
Jacobson II ( Original was only stand up and difficult to stay on )
manufactured by Kawasaki
