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Crash Course 42 Ford Carter

Added Apr 27, 2017 •

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Period 8 - Ford, Carter, and the late 70s

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hi I'm John Green this is Crash Course u.s. history and today we're going to talk about in American history the mid-to-late 1970s we can't find a picture of Gerald Ford somewhere around here don't worry crash-course pants we got one thanks for your support through sellable and pay for this and $0.90 and Gerald Ford photographs listen everything changed in the United States in the midst all that turmoil something wonderful was born strong with this episode is show up till Empire Strikes Back which came out in 1980 I'm referring the course of the fact that we were born at the beginning of the John Green Arrow from here almost everything we discuss will have happened mylifetime or as most crash course mirrors refer to it that Century before I was born in the death of period of momentous change and for most Americans it sucked so how Americans reacted to those no good very bad years really has shaped the world in which we find ourselves a 1970s do nomics 25 years of broad economic expansion in prosperity came to a grinding halt in the 1970s meaning that our party was over and make it instead inflation and extremely slow growth the worst hangover ever just getting worse thing over with the depression worst hangover with Hangover Part 3 in American history Havanese what's the result both of long-term processes and unexpected shock the long-term process was the gradual decline of manufacturing in the u.s. in relation to competing turn the rest of the world to American policy after World War II you remember that we promoted the economic growth of Japan Germany South Korea and Taiwan morning tariff that they set up to protect Nation Industries and effectively subsidizing them by providing for their defense invest in their domestic economy showed up and you can drive them up till like 4 1971 for the first time in the twentieth century America experienced an export trade deficit importing more Goods than it exported which is the same problem that my aunt has QVC I mean they hardly import anything from her one reason for this. if abroad so Nixon took the US off the gold standard hoping to make American Goods cheaper overseas and reduce Imports but that didn't really work labor cost in cheaper raw materials and more productive economies and in many cases this growing Global competition put American firms that couldn't compete out of business especially true in manufacturing in 1960 38% of Americans worked in manufacturing in 1980 it was 28% today 9 not 9% 9 p.m. with me to tell you that was a joke concessions from corporate employers including paid vacation and health benefits and especially pensions which employers would agree to as a kind of deferred compensation so they wouldn't have to pay higher wages to people while they were working and there's great until people started to retire how to increase automation or to shift workers to lower-wage regions of the US or even overseas meanwhile the northern industrial cities particularly the Rust Belt of the Midwest becoming the empty Urban playgrounds that we know and love today the way they found their tax bases dried-up and they were unable to provide even basic services to their citizens live New York City faced bankruptcy long-term structural changes to the American economy and our demographics the 1970s oil shocks sent the economy into a tailspin to the price of oil this resulted in long lines for gasoline dramatically higher oil prices and Americans deciding to purchase smaller more fuel-efficient cars which is to say Japanese scars also prices of everything else for transportation of just about everything I mean portrait of Gerald Ford would have cost at least a buck 10 play.com oil-based and they would have been way more expensive if the price of oil you should wait standard 1979 we got to put up a picture of Jimmy Carter sorry Gerald Ford there's a peanut farmer in town during the 1970s inflation to 10% a year economic growth slowed to 2.4% resulting in what came to be known as stagflation unemployment rose and a new economic statistic was born the misery index a combination of unemployment and inflation at the beginning of the decade was 10.8 by 1980 it had double Vale the 1970s are good Milestone since according to our old friend Eric foner beginning in 1973 real wages essentially did not rise for 20 years America's got to experience the joy of two years of Jerry Ford before poor Jimmy Carter had a chance to fail it improving the economy the only President never to have been elected even to the vice presidency Gerald bored with so insignificant in American history that we already replaced him on the chalkboard very unpopular decision probably made it impossible for Ford to win in 1976 when was the only memorable domestic program that Ford proposed stone for whip inflation now and it was basically a plea for Americans to be better Shoppers spend less and we're wind button 35 years later Charlie Sheen winning Queen incredibly successful social media campaign but Saturday at the time there was no Twitter but unemployment went up especially during the recession of 1974 and 1975 I've where it topped 9% now Ford would have liked to cut taxes and reduce government regulation but the Democratic Congress wouldn't let him event to be sad arised on Saturday Night Live often seen as a really good ex-president government spending deregulated the trucking and Airline Industries and he supported the fed's decision to raise interest rates rules here simple I read the mystery document I guess the author if I'm wrong I could shock night let's see what we got today I want to speak to you first tonight about a subject even more serious than energy or inflation I want to talk to you right now about a fundamental threat to American democracy I do not meet our political in the civil liberties they will endear and I do not refer to the Auburn strength of America a nation that is at peace tonight everywhere in the world with unmatched economic power in military might the threat is nearly invisible in ordinary please it is a crisis of confidence it is a crisis that strikes at the very Heart and Soul and Spirit of our national will we can see this crisis in the growing down the meaning of our own lives and in the Wasps of a Unity of purpose for our nation the erosion of our confidence in the future is threatening to destroy the social and political fabric of where is Jimmy Carter's crisis of confidence speech my favorite speech ever made that also cost a president 20 points of approval rating Americans have lost their need to face the future and some of their can do Spirit the energy crisis a lesson from history Jimmy Carter you don't get reelected by telling Americans how to do more with less get reelected by telling Americans more more always bark more for you more more more I promise who live Carter's political ineptitude lip-service to Liberal ideas like energy conservation installing solar panels on the White House is investment in nuclear power are you active Vapor was released into the air force bird public fears of a nuclear meltdown and drove a huge anti-nuclear energy movement see President but as with his energy initiatives he's mostly remembered for his failures Warframe working Focus instead on combating third world poverty and reducing the spread of nuclear weapons let's go to the thought bubble Cantina during its dirty war and signing a treaty in 1978 that would transfer the Panama Canal back to Panama historic peace agreement between Egypt and Israel has as we all know when to a lasting peace in the Middle East just kidding but it has the step in the right direction and one that's lasted but the US Play support dictatorial regimes in Guatemala the Philippines and South Korea Carter's most significant failure in terms of supporting International bad guys though is the Shah of Iran when was a major buyer of American Arms but the Shah was really unpopular and are supported him fueled anti-American sentiments in a run that was boiled over in the 1979 Tehran Revolution especially after Carter allowed the shot to get cancer treatments In America which in turn prompted the storming of the American Embassy in Tehran and the capture of 53 American ha Iranian hostage crisis lasted 444 days and although Carter secretary of state did negotiate they released it didn't happen until the Dave Carter Ronald Reagan was inaugurated the hostages and the Box rescue attempt Affleck's Argo notwithstanding added to the impression that Carter was weak Middle East also increased Cold War tensions especially after 1979 when the USSR invaded Afghanistan invasion of Afghanistan with the greatest threat to since World War II and proclaim the Carter Doctrine which basically said that the US would use Force if necessary to protect its interests in the Persian Gulf region in breakfasts Ponce to the Soviets the u.s. put an embargo on grain shipments and organize the boycott of the 1980 Olympics in Moscow thanks for another good news. Carter all again stressed that the real story the 1970s was the economy High inflation and high unemployment had Monumental effects in shaping America and no president could have dealt defective Lee not Carter not Gerald Ford not anyone the truth is history isn't about individual oil shocks and inevitable systemic changes that Singapore economy and that weakened support for New Deal liberalism and increase the appeal of conservative ideas like lower taxes reduced regulations and cuts and social spending all of for the record started under the Democrat Jimmy Carter not the Republican Ronald Reagan it's been government action could actually solve macroeconomic problems I mean according to the economic theory that prevailed for the previous 50 years unemployment and inflation we're supposed to inversely proportional the so-called Phillips curve broke down and we had both High inflation and high unemployment and undermine the entire idea of government an open the door for a different way of thinking about economics that emphasized the economy as an aggregate of individual economic decisions poor choices or governmental policies really make economies work or not work turns out to be pretty freaking important and this is really come to shape the Contemporary American political bands especially when it comes to taxes which will talk more about next week thanks for watching sellable and also because so many of you are buying crash course world history on DVD thank you everyone for and you can help us in that mission see if you're able by subscribing at several voluntary subscription platform where you can get amazing perks like sign posters and lots of other stuff so check it out thank you reporting crash course thanks for watching in this we say in my hometown don't forget to be awesome

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Crash Course 42 Ford Carter

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