1. April 30, 2014 1. Notes: 32.3 (Part 1) Economy of the 1970’s and Gerald Ford. 2. Gerald Ford Presidency Video 3. 32.3 Vocab 4. Ch. 32 Test Friday! 5. Current Event Due Friday!

2. 32.3 Ford and Carter 1974-1980

3. Economic Crisis of 1970’s 1970’s- tough economic times. 4 Reasons: 1. 1960’s: LBJ spent billions ($22B each year) on Vietnam and Great Society. 2. Inflation: rise in costs of goods. 3. American productivity declined: foreign competition (Japan, West Germany, etc.) in manufacturing, technology, etc. 4.Oil Crisis of the 1970’s.

4. Economic Crisis of the 1970’s 1971: U.S. imported more goods than exported for first time since 1889. Many factories closed in 1970’s and millions of blue collar Americans lost jobs. High unemployment! Stagflation: inflation + high unemployment.

7. Oil Crisis of the 1970’s 4. Oil prices increased in the 1970’s. OPEC (Organization of Petroleum Exporting Countries) Tensions high between Israel and Arab nations in the Middle East. Yom Kippur War in Oct., 1973 between Israel vs. Egypt and Syria. U.S. supported Israel, USSR supported Arab nations. OAPEC placed embargo (stop shipping) on U.S. 1973-1980, price of barrel of oil went from $3 to $30. US suffered fuel shortage. As prices for oil and gas rose, Americans had less $ to spend on other goods.

8. Ford Takes Over “I'm a Ford, not a Lincoln.” U-Michigan, Yale Law School, Navy in WWII, House of Representatives, V.P. Pardoned Nixon Public trial would divide America further…let’s just move on.

9. WIN 1975: Recession worst since Great Depression. Unemployment: 9% No mandatory wage/price controls. Voluntary Program: Whip Inflation Now. Cut back on gas consumption and conserve energy. No enthusiasm 

10. Ford Foreign Policy Continue détente NATO and Warsaw Pact sign Helsinki Accords: Soviet Union promised to uphold human rights if borders since WWII stayed same in Europe.

11. Wednesday, May 8, 2013 Continue 32.3 Notes: Jimmy Carter Video clips: Iran Hostage Crisis Unit 11 Exam-1970’s-Chapter 32 (1-3) is Friday!!!

12. Election of 1976

13. Jimmy Carter 1976-1980 1976: Bicentennial Georgia Governor and “Washington Outsider”

14. Foreign Policy Israel and Egypt had been in wars since founding of Israel in 1947. 1977: Carter invited the leaders to Camp David to help negotiate peace. Egyptian President: Anwar Sadat. Israeli President: Menachem Begin. Camp David Accords: Egypt agreed to recognize Israel as a nation; Israel returned Sinai territory to Egypt.

15. CARTER’S FOREIGN POLICY Soviet Union invaded Afghanistan in 1979. Carter responded by helping the mujahedeen with weapons. US boycotted 1980 summer Olympics in Moscow and stopped all grain shipments to USSR.

19. Iran Hostage Crisis Since 1953, U.S. supported Shah (king) Pahlavi of Iran. US and Great Britain organized a overthrow of Mohammad Mossadeq. By late 1970’s, he was unpopular in Iran. Radical Muslims forced the Shah into exile and the Ayatollah Khomeini took over. In exile from country to country, the Shah suffered from cancer. Carter allowed him to receive immediate medical care and political asylum in the U.S. Iranians invaded U.S. embassy, taking 66 Americans hostages (Nov.1979-Jan.1981.) Held for more than a year. Cruel captivity while TV news reports showed Iranian mobs burning American flag. At first Carter tried economic sanctions, but that didn’t work. Later, he tried a daring rescue mission, but two military aircraft collided and eight of the would-be rescuers were killed. Americans saw this as failure of Carter Administration. Hostages were released one day after Carter leaves office in January, 1980.