Stagflation describes a period in which the inflation rate is elevated, the economic rate of growth diminishes, and unemployment rates remains at a steady high. Beginning with a huge rise in oil prices, stagflation was perpetuated, for central banks over-extended themselves by following a policy of excessive monetary stimulation to counteract the recession resulting of the price increase. This sent prices spiraling upwards, and a wages spiraling down.
Originally written in 1923 by Alice Paul, a suffragist, the ERA was proposed to Congress, guaranteeing equal rights for women. Passing in both houses of Congress in 1972, the ERA went out to State legislatures to be ratified. However, the quota of ratifications was not reached, largely due to the efforts of Phyllis Schlaftey, who opposed the ERA and mobilized conservatives against it.
Carried out between the U.S. and the Soviet Union, the SALT II talks were aimed to curb the manufacture of strategic nuclear arms. The talks helped to discourage the further advancement of the weapons, including the use of multiple independently targetable reentry vehicles (MIRVs). SALT II banned new missile programs, and set limitations on advancements and launchers. With the discovery of a Soviet fleet near Cuba, which had laid dormant since 1962 and the Cuban Missile Crisis, the SALT II treaty was never signed by the U.S. It was, however, honored until 1986.
Seizing the town of Wounded Knee for its sentimental namesake, approximately 200 Indians, initially, protested the Ogala Civil Rights Organization's (OSCRO) failed attempts to impeach the corrupt tribal president Richard Wilson. Also, the protesters attacked the U.S. government's failure to fulfill treaties with Indian peoples and demanded the reopening of treaty negotiations. The American people were sympathetic, and Indians all over the U.S. were riled in pride. This incident uncovered underlying racial tensions and problems.
The crisis was caused by the Organization of Arab Petroleum Exporting Countries (this consisted of the Arab members of OPEC, along with Egypt, Syria and Tunisia) proclaimed an oil embargo on the United States, and several other Western powers. Early on in 1973, Syria and Egypt, launched a surprise attack on Israel during Yom Kippur; they were supported by the Arab nations. Being greatly outnumbered in military force, Israel went on full nuclear alert, equipping planes with warheads and arming long-range missiles. The United States resupplied Israel with arms in the light of their desperate odds, and in response, OPEC commenced its embargo. This action caused massive price increases in the United States, and there was a shortage of gasoline. After the embargo was lifted, the concerned of future embargos remained.
A national uproar resulted of the pardon of Nixon. It is considered to be one of the main causes of Ford's defeat in the 1976 presidential election.
• Federal Republic of Germany
• German Democratic Republic
• United States of America
• United Kingdom
• Republic of Ireland
• San Marino
• Holy See
• Union of Soviet Socialist Republics
Above is a list of countries wich signed the the Helsinki Declaration, it being synonymous of the Helsinki Accords, and the last action of the Conference on Security and Co-operation in Europe. The points of it were sovereign equality and respect for the rights inherent in sovereignty, refraining from the threat or use of force, inviolability of frontiers, territorial integrity of States, peaceful settlement of disputes, non-intervention in internal affairs, respect for human rights and fundamental freedoms, including the freedom of thought, conscience, religion or belief, equal rights and self-determination of peoples, co-operation among States, fulfillment in good faith of obligations under international law. This list was provided by Wikipedia.
During the Carter presidency, this treaty relinquished the control of the Panama Canal to Panama in 1999, as was established before its construction. The treaty stated that once the canal was taken under Panama control, the maintenance and defense of the canal would be primarily Panama's responsibility.
Two documents concerning the peace of Egypt and Israel were signed, as well as those concerning peace in the Middle East as a whole. The terms between Egypt and Israel included the withdrawal of Israel armed forces from territories occupied in the recent conflict, and a framework for the self autonomy of the Gauza Strip and the West Bank were set in the preamble. The Sinai Peninsula was returned with a peace treaty six months later, brought on by the accords.
Occurring in Dauphin County, Pennsylvania, this incident included the partial meltdown of one of two Three-Mile nuclear reactors. It was the worst nuclear incident on American soil of a U.S. commercial nuclear power plant in history. Small amounts of radioactive gasses were released into the atmosphere, but no effects have been found or recorded.
52 American hostages were taken after the raiding of the U.S. embassy in Tehran, Iran by groups of Islamist students and militants. This event was seen as a blow against U.S. influence in Iran. A revolution in Iran had recently occurred in the previous year, which broke the chain of U.S. influence through support of the Shah.
The election was between Ronald Reagan, for the Republicans, Jimmy Carter, for the Democrats, and John B. Anderson as an independent. Reagan won the election in a landslide, with over half of the popular vote and 489 electoral votes in comparison to Carter's 49, for he was the only slight competition. Reagan ran on the platform of bolstering the military, and balancing the budget within three years, which was accompanied by a 30% tax reduction.
See "Reagan Revolution."
This presidency was home to the largest tax cuts across all incomes in American history, a decrease in the marginal income tax rates in the U.S. by 23%. This was brought into effect over three years, as established by the Economic Recovery Tax Act of 1981. Also enacted through ERTA were the economic policies behind "Reaganomics", which entailed the lessened regulation of the government on the economy, lowered taxes as stated, and through this will be able to produce with greater ease, thus benefiting consumers with lower prices. On the foreign front Reagan's administration was anti-communist, and ended the 1970's détente, and at the close of his presidency, had attributed to the end of the Soviet Union as well (its collapse was roughly at the time Reagan left office). Accelerating military buildup and supporting paramilitary groups around the world, specifically those which looked to overthrow communist governments, Reagan put internal pressure on the Soviet Union to stay in stride with the U.S. In this way it splintered, and fell.
Appointed by Reagan, O'Connor was the first woman to be put on the Court. This was monumental for the equality of women. Pro-life and religious groups opposed this appointment, for they believed that she would not overturn Roe v. Wade.
The U.S. led invasion of Grenada, a Caribbean island nation north of Venezuela, resulted in the restoration of a constitutional government. The reason behind the invasion was a coup in which a military government was set in place, destroying a revolutionary government, which had been set for four years. This action was largely dissented internationally, with a UN assembly resolving that the invasion violated international law.
The U.S. provided support in supplies and training to paramilitary groups in Nicaragua, as to overthrow their government. Nicaragua took the offenses of the United States to the International Court of Justice, who ruled in Nicaragua's favor, and imposed reparations onto the U.S., which were never given. The American rational for involvement was the benefit of El Salvador, which had accused Nicaragua of an armed attack; collective self-defense justified action.