WORLD EVENTS
US troops invade Cambodia (May 1). Background: Vietnam War
Earthquake kills more than 50,000 in Peru (May 31).
NATIONAL EVENTS
Four students at Kent State University in Ohio slain by National Guardsmen at demonstration protesting incursion into Cambodia (May 4).
Senate repeals Gulf of Tonkin resolution (June 24).
ECONOMICS
Median Household Income
(current dollars): $8,734
Consumer Price Index: 38.8
Unemployment: 3.5%
Cost of a first-class stamp: $0.06
INFLATION
If you have $100 Converted from 1970 to 2005 it would be equivalent to $517.65 today
In 1970 a new house cost $23,400.00 and by 1979 was $58,500.00 Examples of homes and Property for sale in the 1970's
In 1970 the average income per year was $9,350.00 and by 1979 was $17,550.00
In 1970 a gallon of gas was 36 cents and by 1979 was 86 cents
In 1970 the average cost of new car was $3,900.00 and by 1979 was $5,770.00 Examples of Models and Car Prices in the 70's
NATIONAL EVENTS
Median Household Income
(current dollars): $8,734
Consumer Price Index: 38.8
Unemployment: 3.5%
Cost of a first-class stamp: $0.06
INFLATION
If you have $100 Converted from 1970 to 2005 it would be equivalent to $517.65 today
In 1970 a new house cost $23,400.00 and by 1979 was $58,500.00 Examples of homes and Property for sale in the 1970's
In 1970 the average income per year was $9,350.00 and by 1979 was $17,550.00
In 1970 a gallon of gas was 36 cents and by 1979 was 86 cents
In 1970 the average cost of new car was $3,900.00 and by 1979 was $5,770.00 Examples of Models and Car Prices in the 70's
Super Bowl
Kansas City d. Minnesota (23-7)
World Series
Baltimore d. Cincinnati (4-1)
NBA Championship
New York d. LA Lakers (4-3)
ENTERTAINMENT
Events
- The Beatles break up. By the end of the year, each member had released a solo album.
- George C. Scott gives one of film's most memorable performances in Patton. He won the Best Actor Oscar for his turn as the title character, but refused the gold statuette.
- Jimi Hendrix and Janis Joplin both die drug-related deaths at age 27.
- FCC regulations require separate ownership of television networks and studios.
- Midnight Cowboy wins the Best Picture Oscar, the first and only time an X-rated movie received the honor.
Movies
- M*A*S*H, Patton, Love Story, Airport
Books
- Maya Angelou, I Know Why the Caged Bird Sings
- John Berryman, Love and Fame
- Nikki Giovanni, Black Talk/Black Judgement
- Gabriel García Márquez, One Hundred Years of Solitude
- Gail Godwin, The Perfectionist
SCIENCE
- Biochemist Hamilton O. Smith (US) discovers a restriction enzyme that will allow biologist Daniel Nathans (US) to map a complete viral genome. Background: genetic engineering
- IBM introduces the floppy disk. Background: Computers and Internet
- Bar codes (computer-scanned binary signal code) are introduced for retail and industrial use in England.
- The LCD (liquid crystal display) is invented by Hoffmann-La Roche (Switzerland).
- The Food and Drug Administration warns that birth control pills may cause blood clots. Background: Birth & Contraception
- Lithium is approved by the FDA for the treatment of manic-depression.
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