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Are The 1970s Coming Back?

Tyler Durden's picture





 

The mid-1970s have been a useful template for what is possible (and even probable) in a centrally-planned world. As a reminder, the underlying backdrop was also similar (major economic downturn following the housing crashes in 1974-75 and again in 2006-2007 followed by aggressive Fed policy which was ultimately too loose for too long). It is quite clear, Citi notes, that the rally in the Dow has lasted longer than the “road map” would have suggested - at least in part driven by the ongoing expansion of the Fed’s Balance sheet - but with Taper talk increasing we wonder how long before the 70s are back in vogue.

 

 

Chart: Citi FX Technicals

 


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Fri, 07/05/2013 - 15:48 | Link to Comment BadDog
BadDog's picture

I hope not, they sucked the first time around.

Fri, 07/05/2013 - 15:51 | Link to Comment WmMcK
WmMcK's picture

Don't look at that picture (especially the teeth) too long, it will drain your energy.

Fri, 07/05/2013 - 16:03 | Link to Comment ZerOhead
ZerOhead's picture

1970's?... Nope.

Try 1870's...

http://suite101.com/article/the-financial-crisis-of-the-1870s-a102773

 

The Crisis in America

Before this the United States had seen an era of unprecedented prosperity. Housing and construction boomed. Shops were full of customers. Prices of commodities reached new levels.

 

Fri, 07/05/2013 - 16:03 | Link to Comment Totentänzerlied
Totentänzerlied's picture

Except that this time around there's no equivalent of crude oil to stick-save the planet.

Fri, 07/05/2013 - 16:08 | Link to Comment WmMcK
WmMcK's picture

I thought it might be a call to go long railroads.

Fri, 07/05/2013 - 16:09 | Link to Comment Flakmeister
Flakmeister's picture

That already happened, look at the charts of UNP, CSX, CP, CNI....

Fri, 07/05/2013 - 19:29 | Link to Comment BLOTTO
BLOTTO's picture

I'm more pessimistic then all of you...ive gone back to 10th century.

.

How about the Dark Ages?

http://en.wikipedia.org/wiki/Dark_Ages_%28historiography%29

.

Where paganism, unmoral, filth, occult, zombies, magic, thieves and liars ruled...sound familiar?

It was so shit - they just called it dark.

Fri, 07/05/2013 - 20:08 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

.

Where paganism, unmoral, filth, occult, zombies, magic, thieves and liars ruled...sound familiar?

"We're there, dude."
--Beavis

Sat, 07/06/2013 - 00:31 | Link to Comment pagan
pagan's picture

Paganism? The Dark Ages was the high time of Christianity. Christianity made it the Dark ages.

Sat, 07/06/2013 - 01:16 | Link to Comment Flakmeister
Flakmeister's picture

I wouldn't say it was responsible, but once "lighter" prospects emerged with the Renaissance it show as hell tried to pull the blinds back down...

Sat, 07/06/2013 - 02:24 | Link to Comment The_Dude
The_Dude's picture

Or maybe the Christians saved it from oblivion....

 

the old order and power of the Roman Empire had completely disintegrated and when illiterate, pagan, barbaric hordes, who were devoid of understanding the Greco-Roman heritage, were rearranging Europe. While Greece lay in ruins and Rome was being pillaged and plundered, the best of their accomplishments were preserved only in books.

 

http://chalcedon.edu/research/articles/it-takes-a-monk-to-save-a-civiliz...

 

Sat, 07/06/2013 - 05:29 | Link to Comment pagan
pagan's picture

Huh? The Greeks and the Romans were the pagans. Christianity destroyed the high-culture of Antiquity.

Christianity is an alien Jewish from the middle-east.

Sat, 07/06/2013 - 15:25 | Link to Comment sun tzu
sun tzu's picture

Huh? Europe has been Christian for the past 800 years and just by coincidence perhaps has been at the forefront of the civilized world for the past 800 years. Why do you think so many European flags have crosses on them? If you claim Christianity is backwards, then Europe is backwards. 

The high culture of Greek antiquity was throwing babies off cliffs. The high culture of Roman antiquity was gladiator fights. Men poking little boys up the ass was also very popular and accepted back then. 

Fri, 07/05/2013 - 21:57 | Link to Comment icanhasbailout
icanhasbailout's picture

go long asteroids

Sat, 07/06/2013 - 12:09 | Link to Comment The_Dude
The_Dude's picture

1970's California vs. The 3rd world, socialist cesspool it is today

 

Nope...never coming back....

Fri, 07/05/2013 - 17:01 | Link to Comment tarsubil
tarsubil's picture

LOL. I was going to say get rid of the '1'. More like 970s. I knew I should have bought that damn sword and maile.

Fri, 07/05/2013 - 17:31 | Link to Comment ZerOhead
ZerOhead's picture

Ah yes the 970's... when men were men and sheep (and everyone else pretty much) were scared.

If your trying out the 970's 'Eurotrash' look don't forget that Norsemen never actually had horns set in their helmets OK?

Fri, 07/05/2013 - 17:39 | Link to Comment WmMcK
WmMcK's picture

And a couple of Pope Benedict's to boot.

Fri, 07/05/2013 - 17:57 | Link to Comment francis_sawyer
francis_sawyer's picture

Gas, Grass, or Ass... Nobody rides for free...

Fri, 07/05/2013 - 18:40 | Link to Comment Chupacabra-322
Chupacabra-322's picture

"If the vans a rock'n don't come a knock'n"

Well, I don't mind a natural lady every now & again.

Fri, 07/05/2013 - 20:09 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

"Arrive Stoned"

Fri, 07/05/2013 - 21:24 | Link to Comment Thee Barbarous Relic
Thee Barbarous Relic's picture

Ya know the difference between the 1870s and the 1970s?
In the 1870s a dildo was a steely dan, in the 1970s two dildos were Steely Dan.

Fri, 07/05/2013 - 21:25 | Link to Comment Thee Barbarous Relic
Thee Barbarous Relic's picture

Ya know the difference between the 1870s and the 1970s?
In the 1870s a dildo was a steely dan, in the 1970s two dildos were Steely Dan.

Sat, 07/06/2013 - 12:14 | Link to Comment Cathartes Aura
Cathartes Aura's picture

ahhh, funny you should mention the 1870's ZerOhead, as indeed there are similars to this time. . .

the correlation of Uranus aspecting Pluto is apparent when amrka goes to Great Wars, and experiences Great Depressions - 1870s? great depression - anyone curious to look into these patterns might start with this article, which notes,

Uranus-Pluto squares that simultaneously formed harsh angles to key points in the USA's horoscope have marked major turning points in American history,

1620s: African slaves introduced to Jamestown Colony
1670s: Bacon's Rebellion in Virginia Colony
1870s: Great Depression
1930s: Great Depression

we are currently in a strong Uranus/Pluto square, with Uranus stationed to go retrograde (revisiting past degrees moved through) on the 17/18 July, which means the energy of sudden events that undermine set institutions/beliefs is very active just now. . .seeing the patterns helps re-cognise where we are, and perhaps where we're headed.

Fri, 07/05/2013 - 16:32 | Link to Comment Dingleberry
Dingleberry's picture

The 70s had regrettable moments like disco, bell bottom pants, untrimmed beavers, pornstaches, coke lines & corduroy pants.

 

But at least the boobs back then were all REAL.

Fri, 07/05/2013 - 16:48 | Link to Comment wee-weed up
wee-weed up's picture

And don't forget the long pointy-collar shirts and fat wide ties to go with those corduroy bellbottom pants.

Fri, 07/05/2013 - 17:30 | Link to Comment mofreedom
mofreedom's picture

you know obama hated that 70s attire, he preferred the hoop rings in the nose and a loin clothe made of old new york times.

Fri, 07/05/2013 - 18:01 | Link to Comment toxic8
toxic8's picture

Subliminal SEX in the hair - can you see it?

Fri, 07/05/2013 - 16:45 | Link to Comment McMolotov
McMolotov's picture

I was but a mere zygote as the '70s came to a close. Were the chicks all bra-less back then? I wouldn't mind that coming back.

Fri, 07/05/2013 - 16:53 | Link to Comment wee-weed up
wee-weed up's picture

'

Fri, 07/05/2013 - 21:05 | Link to Comment mjcOH1
mjcOH1's picture

"I was but a mere zygote as the '70s came to a close. Were the chicks all bra-less back then? I wouldn't mind that coming back."

Keep in mind your average 20 yr old girl had one chin rather than 3 in 1975. Let's just hand out the hot pokers now so we can all put out our eyes.

Fri, 07/05/2013 - 22:05 | Link to Comment IrritableBowels
IrritableBowels's picture
“Here's somthing you never hear someone say: 'As soon as I stick this red hot poker up my ass i'm going to chop my dick off'.”

George Carlin (RIP)

Sat, 07/06/2013 - 07:57 | Link to Comment espirit
espirit's picture

In the 70's, sex was pretty much free with no worries of std's.

Sat, 07/06/2013 - 02:18 | Link to Comment kareninca
kareninca's picture

In 2010, the obesity rate for American males was 32.2 percent.  For American females, 35.5 percent.  Per Wikipedia.

Gross fat American dudes, just as much.

Fri, 07/05/2013 - 16:53 | Link to Comment WmMcK
WmMcK's picture

Not all of them, and definitely not all the right ones.

Halter tops (and split skirts especially around the WTC's  ) were worth the price of admission, though.

Fri, 07/05/2013 - 21:15 | Link to Comment FEDbuster
FEDbuster's picture

Tube tops, too.

Led Zeppelin and full auto weapons were still legal (and relatively cheap) to buy.

Of course we had Nixon, Ford and Carter, so politicians still sucked.

Sat, 07/06/2013 - 08:00 | Link to Comment espirit
espirit's picture

Those were the days.

Fri, 07/05/2013 - 16:57 | Link to Comment Dingleberry
Dingleberry's picture

Bottom line is back then chicks were buxom at worst, in shape at best, and you knew what you were looking at wasn't fake

If you are younger than 30, all you know is fat, as it is accepted now as normal. It wasn't back then.  

Fri, 07/05/2013 - 21:19 | Link to Comment FEDbuster
FEDbuster's picture

Let's not forget the "70's bush" look was still the norm.

Sat, 07/06/2013 - 15:28 | Link to Comment sun tzu
sun tzu's picture

That's one thing we don't need

Fri, 07/05/2013 - 17:02 | Link to Comment DaveyJones
DaveyJones's picture

and Travolta's only runway had screaming Australians on it

Fri, 07/05/2013 - 17:02 | Link to Comment WmMcK
WmMcK's picture

The pre-implant era.

Fri, 07/05/2013 - 17:04 | Link to Comment DaveyJones
DaveyJones's picture

oops, I switched on you

goddamn lawyers

Fri, 07/05/2013 - 17:51 | Link to Comment Promethus
Promethus's picture

The real boobs moved from women's chests to politics and banking.

Fri, 07/05/2013 - 19:06 | Link to Comment DaveyJones
DaveyJones's picture

no, they were always there..but like the others, they just got more false, inflated, and dependent on high paid experts.

Fri, 07/05/2013 - 19:00 | Link to Comment duo
duo's picture

Yea, that disco music sucked so bad that rappers today have to re-use tracks from that era.

Long the Bee-Gees, Heatwave, Curtis Blow, Sugarhill Gang, and of course, Earth, Wind and Fire.

Fri, 07/05/2013 - 23:16 | Link to Comment PT
PT's picture

duo:
+1000 

Sat, 07/06/2013 - 01:08 | Link to Comment Dingleberry
Dingleberry's picture

for the record: I LOVE disco, the Brothers Gibb in particular.  Vast majority today are "2 kool" for that. Hence "regrettable". 

Fri, 07/05/2013 - 21:47 | Link to Comment roonbox
roonbox's picture

Akmost all of your regrettables are awesome, I'll take it all back part from untrimmed beavers, and even those occasionally for novelty

Sat, 07/06/2013 - 00:02 | Link to Comment MontgomeryScott
MontgomeryScott's picture

I saved the picture, Tylers.

DAMN, the NIPPLES on this former wife of Lee Majors...

I was TOO CHEAP to actually buy the poster (nah, kidding! I have it on the wall in the basement).

There was this one episode of the 'Six Million Dollar Man' where 'Colonel Steve Austin' meets up with an old girlfriend (Farah Fawcett-Majors)...

The PTB decided that she wasn't a good enough actress, and hired some other skinny blonde with far less impressive tits to play out the last years of this dying diatribe of 'mass consumption'. It was a chick married to Lyle Wagonner, i think. Lindsay Wagner?

Lindsay had a fairly nice body, as well, but her tits were too small. She was a 'posterchild' for the 'IBTC' (ittie Bitty Tittie Committee').

 

'That 70's Show' really sucks, you know. NO SENSE of REALITY.

Fri, 07/05/2013 - 15:49 | Link to Comment Yellowhoard
Yellowhoard's picture

Stagflation coming soon.

Fri, 07/05/2013 - 16:17 | Link to Comment Pool Shark
Pool Shark's picture

 

 

10-Year yield up to 2.72%

only another 14% to go...

 

Fri, 07/05/2013 - 16:59 | Link to Comment Spigot
Spigot's picture

Dear God. Another 4 bips and that into the close on a Friday. 2.72% That's not Asia selling, that's our dolts. Shit.

Fri, 07/05/2013 - 17:06 | Link to Comment WmMcK
WmMcK's picture

My mortgage is now 1 bip above the 10 year.  It's over 40 years

(and ~ 1100 bips) since the last time I could truthfully say that.

Fri, 07/05/2013 - 15:49 | Link to Comment FieldingMellish
FieldingMellish's picture

This would then be the point where gold, after having dropped from $200 to $100, took off over the next 4 years to $800.

Fri, 07/05/2013 - 15:54 | Link to Comment seek
seek's picture

Which, if repeated, would put AU around $9600/oz in 4 years or so -- mid 2017. Sounds about right.

Unfortunately unlike the 70s, a Volcker move of 15% interest rates would implode US Treasury, and the financial system along with it. So instead we'll see rates of a couple percent and hyperinflation, followed by repudiation and a new dollar, assuming the republic stays intact.

Fri, 07/05/2013 - 16:03 | Link to Comment derek_vineyard
derek_vineyard's picture

a 2.5% 30 year up to 4.0% is the same magnitude of rate hike

the guy down the street that bought the house for 350K cash and is getting 1500/month rent was obviously calibrating his investment off the 2.5% 30 year (that investmment group bought 100 million of homes in this area ...i was told)

Fri, 07/05/2013 - 17:03 | Link to Comment Scro
Scro's picture

Dern that's cheap. My taxes alone on +/- 400k house is over $1000 per month.

Fri, 07/05/2013 - 17:11 | Link to Comment DaveyJones
DaveyJones's picture

seek and you shall find the future

as long as the middle class can keep their ridiculously large master bedrooms. There's no one to buy them anyways

Fri, 07/05/2013 - 15:51 | Link to Comment chubbyjjfong
chubbyjjfong's picture

The 90's was an unforgiving decade, the 80's was fantastic but the 70's was the greatest of them all! Welcome back!

Fri, 07/05/2013 - 16:05 | Link to Comment Stuck on Zero
Stuck on Zero's picture

Disco was so cool.  I hope it comes back.

 

Fri, 07/05/2013 - 19:06 | Link to Comment Andy Lewis
Andy Lewis's picture

Fuckin' A.,

Fri, 07/05/2013 - 16:19 | Link to Comment Ignatius
Fri, 07/05/2013 - 15:51 | Link to Comment DosZap
DosZap's picture

I hope not, they sucked the first time around.

Not for me, I would take them over this SHIT any day.

Fri, 07/05/2013 - 23:57 | Link to Comment Overpowered By Funk
Overpowered By Funk's picture

No shit. The music was way better -Stones, Zep, T-Rex, Bowie, Clash, Ramones - but the Leisure Suits man! The Leisure Suits...

Fri, 07/05/2013 - 15:51 | Link to Comment ebworthen
ebworthen's picture

Imagine rates at 10%-15% as they were in the 70's.

This Ponzi economy would totally collapse.

Go ahead Ben, Taper and raise the rates, let's go to 4% on the 10 Year T-Bill.

I keep hearing people say it's good for the economy, and far below rates in the past when the economy was growing.

Um...sure...there is so much productive career employment out there to support higher rates.

And we haven't even mentioned what happens to the debt with higher rates.

C'mon Ben, raise rates, and send me my $3 Million "Stimulus".

We'll call it PBS's, People Backed Securities.

I'll spend some, and tip well.

Fri, 07/05/2013 - 15:55 | Link to Comment granolageek
granolageek's picture

Come on back 70s. Liked them way better than this mess.

Fri, 07/05/2013 - 16:13 | Link to Comment ebworthen
ebworthen's picture

Huggy Bear agrees:

http://charlieschinderwolf.files.wordpress.com/2009/12/huggy-bear3.jpg

(link opens in new window/tab)

Fri, 07/05/2013 - 17:44 | Link to Comment NumberNone
NumberNone's picture

Dyn-o-mite!

Fri, 07/05/2013 - 15:56 | Link to Comment Make_Mine_A_Double
Make_Mine_A_Double's picture

I've got my flares and rolling papers at the ready.......bring it. The 18% interest rates? Not so much.

Fri, 07/05/2013 - 15:58 | Link to Comment kito
kito's picture

template in a very general way.....perhaps stagflation.....because what comes after this next downturn wont be a paul volcker raising rates.....not unless the govt doesnt mind paying half of its revenue to interest on the national debt....which will be 23 trillion in 2107....

Fri, 07/05/2013 - 16:13 | Link to Comment fonzannoon
fonzannoon's picture

I got into a conversation with a dude on another site regarding fed tapering. He explained his situation this way.

"You asked about my situation on a post earlier, so I'll tell you my tale of woe :)

I paid $380k for a newbuild home in March. I make about $180k. The home will be completed in approximately 6 months, so the closing will likely occur in September or October, and I will lock-in rates 30 days before the closing. When I signed the contract for the home, I had to put 3.5% down for materials and earnest money, but I can't lock in financing until the closing, which can't occur until the home is built and the home passes all the necessary inspections. So walking away would leave me out 15-20k (the earnest money). Almost certainly not happening.

Unfortunately, I pretty much pegged the market bottom when I signed. I had pre-approval for a 30 year mortgage with zero points and financing fees for 3.3%. Wells Fargo is now offering a 30 year at 5.05%! Damn! Bond market has sold off with a vengence; I really hope treasuries rally. The "taper" talk caught me totally off guard, especially with inflation and demand seemingly still so low.

Thanks for listening,

 

I think a lot of people are in this dude's spot.

Fri, 07/05/2013 - 16:39 | Link to Comment kito
kito's picture

im sure there are.....but the bernank doesnt give a shit about his type....... since his kind has not been whats driving the housing market........its been cash buyers at the top....and cash buyers at the bottom...plus lots of multifamily units.......im in the nyc metro suburbs, my house is in the upper middle in terms of price....... and my housing price is still below 2003......perhaps the bernank was more concerned about lowering the debt burden of current underwater homeowners.....by maintaing lower rates.....perhaps he feels that he has done enough now........granted, i dont see it........but hey, i dont have a phd and never taught economics at princeton!!!..............what do i know????

Fri, 07/05/2013 - 16:39 | Link to Comment NotApplicable
NotApplicable's picture

Blows my mind that people are still building their dream houses, when the reality is a nightmare.

So... did you suggest he go double or nothing on an ARM?

Fri, 07/05/2013 - 16:44 | Link to Comment fonzannoon
fonzannoon's picture

I wished him luck.

It seems like we all are going to need it.

Fri, 07/05/2013 - 17:05 | Link to Comment kito
kito's picture

so fonz, whats your break the back interest rate target? 4%?.....everybody on here who has cried that any creep up interest rates will be the death of the fed.....has been put to shame.......im still waiting..............and you notice not a peep from the bernank.......im telling you, if the 30 mortgage rate continues to stay solidly above 5 percent for the rest of the year...and housing numbers continue upwards...and stocks continue upwards.....im throwing this fucking laptop out the window along with zerohedge....i will go back to being a sheep...blindly listening to whatever the bernank says because perhaps there is no more logic to the world.........perhaps the bernank has figured out alchemy............

Fri, 07/05/2013 - 17:52 | Link to Comment fonzannoon
fonzannoon's picture

i think the 10yr is more important in the derivative market. 4% may blow some people up. You put mortgage rates above 5% and all sorts of explosives go off.

It's the 2yr and the 5yr that is really interesting. The U.S finances it's debt in shorter term instruments. The Bernak knows he has to print his ass off if need be to keep those rates down.

Fri, 07/05/2013 - 20:38 | Link to Comment Blano
Blano's picture

But fonz,

Isn't that what people said about the 10y at 2.26, then 2.50?  Not trying to start an argument with you (I'd probably lose), but so far this is just looking like another one of those predictions falling by the wayside.  Thanks.

Fri, 07/05/2013 - 21:29 | Link to Comment fonzannoon
fonzannoon's picture

I was not one of those people. Believe me, I hear you. I felt rates could get here. Maybe even go higher.

Don't let this stuff get to you. It's not so much about a number. Bigger picture, oil and interest rates marching higher eviscerate what is left of this phony economy.

it takes a while for all this debt to roll over. so the impact is not immediate. But this whole thing is a bug heading for a windshield. 

Fri, 07/05/2013 - 16:44 | Link to Comment Seer
Seer's picture

"Unfortunately, I pretty much pegged the market bottom when I signed."

Trying to hit tops and bottoms is a fool's game...

I sold mid 2005 (which happened to be the national tops [US], though not in my area- it kept going up for another year or so).  I bought (real property this time- Ag land) Fall of 2010.  Based on historical numbers I'd say that I have beaten the averages.

That guy should reassess things.  Get out of it, negotiate for a smaller penalty (pretty common), though at that salary I don't think there would be much sympathy (and anyone shelling out a ton of money for property that's NOT Ag is a fool- really, "I got a great deal on a McMansion"?).  And how sound is that $180k/yr job?  In the future a $15k-$20k loss might seem rather small...

Fri, 07/05/2013 - 17:09 | Link to Comment Matt
Matt's picture

It's ok, if interest rates rise >10% (absolute not relative) everyone will dump them, forcing the fed to buy all the treasuries, so all the interest on the treasuries will just come back to the Treasury department one year later. Relax, everything is under control. Nobody panic.

Fri, 07/05/2013 - 15:58 | Link to Comment TheGermanGuy
TheGermanGuy's picture

Back to the 70´s? Short Gillette !!!

Fri, 07/05/2013 - 17:24 | Link to Comment caribbeanbarry
caribbeanbarry's picture

And long Mood Rings...

Fri, 07/05/2013 - 16:03 | Link to Comment EclecticParrot
EclecticParrot's picture

Ah, memories of being a teenager in the 70s, especially the odd melange that was Top 40 radio.  Anyone remember this silly classic, updated for today's events? :

Clap for the Fed-man

He’s gonna raise your index high

Clap for the Fed Man

You’re gonna dig him till the day you die

Fri, 07/05/2013 - 16:04 | Link to Comment WmMcK
WmMcK's picture

Mmm, yes gracious.

Fri, 07/05/2013 - 16:00 | Link to Comment Overfed
Overfed's picture

Only the bad parts.

Fri, 07/05/2013 - 16:10 | Link to Comment Rustysilver
Rustysilver's picture

Be careful what you wish for.

Fri, 07/05/2013 - 16:11 | Link to Comment Flakmeister
Flakmeister's picture

The '70s are going to seem like the good old days, hell, at least then the average schmo had some leverage when it came to wage increases....

Fri, 07/05/2013 - 16:12 | Link to Comment debtor of last ...
debtor of last resort's picture

I was sucking tits in the seventies.

Fri, 07/05/2013 - 16:16 | Link to Comment WmMcK
WmMcK's picture

Pre-aids, I was doing a lot more than that.

Fri, 07/05/2013 - 18:21 | Link to Comment stormsailor
stormsailor's picture

college 77 through 81, oh my god.  i racked up a score of more than 500 bareback.  no babies or problems.  and i had that poster on my room at my parents house,  (it was the nipples).

best moment of the 70's was the allman brothers enlightened rogue world tour.  blowing up disco.  although i got a lot of poon dancing to "its ladies night and your feeling right"

 

the most money i made on summer jobs between academy and cruise was placer mining for gold. i still know where it is, and when it gets real i'll crank up my new keene dredge and work it like production.  guarantee my production cost will not be 1100 per ounce.

 

as to leisure suits?  i never ever wore one and didn't want one, however, i got home from a national eagle scout association meeting in washington my junior year in high school on a late saturday night before easter sunday, and to my absolute horror, my mother had gone out and bought me a pale yellow double-knit leisure suit complete with the flowered nylon shirt and white patent leather shoes and belt.

 

son of a bitch,  so i pretty much had to wear it.  i would have killed anyone near with a camera.  thank god there were dozens of even more men and teenagers dressed in them.  

 

does anybody remember how free we were back then.  as long as you were not harming anyone you could do nearly anthing, and nobody cared.  any empty lot could be a football or baseball field.  you could hunt nearly anywhere as long as it wasn't posted.  10 year olds had shotguns,  every boy in school had a pocket knife.   if you were underage,  you could get somebody to get you a beer,  do you remember when one beer would get you lit up like a firefly, lol  

 

i wish i could do the 70's all over,  and as to the stock market,  i could have cared less back then, i was busy putting a duel line double pumper spread bore holly on my 455 pontiac can-am.

Fri, 07/05/2013 - 20:45 | Link to Comment Blano
Blano's picture

My hero!!! Re: 500.  I'd probably need to take the zeroes off.

College 78 to 82, that was fun, for sure.

 

Fri, 07/05/2013 - 16:17 | Link to Comment Bastiat
Bastiat's picture

Me too but not for food.

Fri, 07/05/2013 - 16:45 | Link to Comment Seer
Seer's picture

A newborn?

Fri, 07/05/2013 - 17:44 | Link to Comment debtor of last ...
debtor of last resort's picture

Read the title, after that read my comment. And do it again. And you sad traders wanna beat the central banks, longface, and hft?

Fri, 07/05/2013 - 18:11 | Link to Comment Landrew
Landrew's picture

So was I being 16.

 

Fri, 07/05/2013 - 20:44 | Link to Comment williambanzai7
williambanzai7's picture

Fri, 07/05/2013 - 16:12 | Link to Comment sgorem
sgorem's picture

we publicly PROTESTED the shit the usgov tried to shove down our throats in the 60's. many times violently. when the fucking seventies came along, the masses were into designer drugs and the Spirit left them for disco. the usgov started their con, in force with Tricky Dick. he was sacked, along with his fucking money making War, but the usgov had it's template. now, after 30 years of prevasive persuasion, the banks, the military, big pharma, oil gluttonies, and the usgov have coalesced into the monster we have today. they've got the money, the military, and the madness. seen any good riots in the good ole ussa lately? thought not.

Fri, 07/05/2013 - 16:44 | Link to Comment NotApplicable
NotApplicable's picture

Your protests were designed and sponsored by the Rockefellers in an effort to undermine the natural stability of society (in a further effort to ensure the sheeple "needed" fedgov's loving care).

Look around you, and you might notice how well the con has worked.

Sorry friend, but like most all movements, it was co-opted and run into the ground in fits of incoherence, ON PURPOSE.

Divide,

Conquer,

Rinse,

Repeat ad infinitum.

Fri, 07/05/2013 - 16:49 | Link to Comment Seer
Seer's picture

So, the Rockefellers figured that having people tune in and drop out was to their benefit?  And all the folks who went back to the land?  Yes, I understand that things always get co-opted, but I hardly figure that most of what spawned in the 60s was any sort of per-orchestration.

Fri, 07/05/2013 - 21:00 | Link to Comment GoinFawr
GoinFawr's picture

"Following the rights movement you clamped down with your iron fist... drugs became conveniently available for all the kids..." SOAD

Brave New World was first published in 1932, and Babbit a decade before that.

It's all been

"...under the spreading Chestnut tree. I sold you and you sold me..."

Sat, 07/06/2013 - 12:21 | Link to Comment Cathartes Aura
Cathartes Aura's picture

one quick skim of this thread proves how perfect the distractions were, in capturing the minds and focusing on the feelies. . .

nary a mention of Nixon taking amrka off the gold standard, of Kissinger "opening the door" to China, and the subsequent moves of the Rothschilds into that nationstate, plus many other more subtle economic & political power-grabs.

yes, the 70's were a decade of massive distractions - sex sells, there will always be buyers.

of course, the clickbait pic sets the tone.

Fri, 07/05/2013 - 16:13 | Link to Comment Mr. Hudson
Mr. Hudson's picture

OPEC didn't sell their oil for U.S. dollars in the mid-70s. There was no demand at that time for U.S. dollars except for trade. Now, as long as OPEC sells their oil for FRNs, there will always be a demand for the dollar, and the dollar will remain "King of the Fiats". The Fed can keep property values propped up for a long, long time.

Fri, 07/05/2013 - 16:18 | Link to Comment sgorem
sgorem's picture

Opec was taking Silver Trade Bars, along with Gold up until Nixon crushed and defaulted on the PM's. Thus establishing the US Dollar as the go to fiat.

Fri, 07/05/2013 - 16:33 | Link to Comment Flakmeister
Flakmeister's picture

Do you simply make shit up? Or is your understanding of recent history really that bad?

Nixon crushed PMs????? Fucking news to me, along with silver bars and OPEC...

Fri, 07/05/2013 - 17:16 | Link to Comment sgorem
sgorem's picture

should I just call you "FlakeMaster", or how 'bout "Minny Red Arrows", because you're as worthless as tits on a boar hog. I apologize, but you've mistaken me for someone who gives a fuck about the incoherent, incessant drivel spewing from that fucking hole on the front of your skull. repack it with some more shit before you bellow again, thanks in advance.

Sat, 07/06/2013 - 00:09 | Link to Comment Flakmeister
Flakmeister's picture

You do seem to have a remarkable aversion to anything that might be factual...

A proper rebuttal would contain some evidence that your orginal statement was correct, all I see is a rant bordering on verbal diarrhea as if spewed from a grumpy old man...

Fri, 07/05/2013 - 16:30 | Link to Comment Flakmeister
Flakmeister's picture

Good god, how wrong can one person be....

Fri, 07/05/2013 - 20:27 | Link to Comment JFKFC
JFKFC's picture

I can't believe that you're getting neg'd for posting factual history. I would suggest ZH readers check out a book called Confessions of an Economic Hitman, by John Perkins.

If you like the no bullshit skinny that ZH gives you, you're gonna love that book. Plus, it'll learn you some about the history of petrodollars.

Fri, 07/05/2013 - 16:20 | Link to Comment CaptainSpaulding
CaptainSpaulding's picture

I better reserve my seats for Emerson Lake and Palmer's Pictures at an exibition

Fri, 07/05/2013 - 16:22 | Link to Comment Winston Smith 2009
Winston Smith 2009's picture

Much prefer Trilogy and their 1st album, Emerson, Lake and Palmer.  The pioneers in electronic music synthesis in rock music using the Moog synth.

Fri, 07/05/2013 - 16:48 | Link to Comment CaptainSpaulding
CaptainSpaulding's picture

Trilogy is my favorite ELP album by far. It was beautifully recorded and arranged. Tarkus is a close second. When Eddy Offord left the scene in 1973, It wasn't the same ELP even though Brain salad Surgery was a hit.. JMO

Fri, 07/05/2013 - 18:58 | Link to Comment Isotope
Isotope's picture

Ah Brain salad Surgery, great cover art.

Fri, 07/05/2013 - 16:38 | Link to Comment Flakmeister
Flakmeister's picture

There is some serious talent on display in "Take a Pebble"....

Fri, 07/05/2013 - 17:23 | Link to Comment Winston Smith 2009
Winston Smith 2009's picture

Definitely, along with "Trilogy," "From the Beginning," and "The Endless Enigma Pts 1 & 2" from their Trilogy album.

Seriously need to get an MMJ card...

Sat, 07/06/2013 - 04:50 | Link to Comment CaptainSpaulding
CaptainSpaulding's picture

Deleted

Fri, 07/05/2013 - 16:23 | Link to Comment WmMcK
WmMcK's picture

 Ah, in the days before the phrase "Brain Salad Surgery" was associated with oral sex.

Fri, 07/05/2013 - 16:19 | Link to Comment Winston Smith 2009
Winston Smith 2009's picture

Disco Sucks!

Fri, 07/05/2013 - 16:24 | Link to Comment sbenard
sbenard's picture

I remember the stagflation from that era!

Fri, 07/05/2013 - 20:49 | Link to Comment SKY85hawk
SKY85hawk's picture

http://www.zerohedge.com/news/2013-05-01/former-fed-governor-warsh-admits-there-no-plan-b

-           The effectiveness of monetary policy was last discredited in the 1970s. The persistent attempts to revive growth with easy money led to stagflation.  The real world has turned to be opposite to the favored positions of the economics profession: the financial market is not only inefficient but systematically bubble-prone. 

Trying to bring back yesterday through monetary growth will eventually bring inflation, not growth.  This is what the Gov’t wants in order to ‘pay off the Debt’. 

Source: http://www.zerohedge.com/news/2013-01-23/money-cannot-buy-growth

Who remembers the 70's? 

It was a time of Stagflation.

The 'Bob Hope" generation entered their 'spend less-save more' life stage.  OUR Parents!

It should be clear that the baby-boom is in the same life-stage.

Not one Politician will admit they are helpless to restart Economic Growth! 

They will wait this thing out, just like before.

Even if it takes 11 to 15 years!

Fri, 07/05/2013 - 16:27 | Link to Comment EclecticParrot
EclecticParrot's picture

Regarding the Farrah Fawcett poster, forensic experts studying these historic artifacts have discovered a persistent phenomenon:  they nearly always find only one set of fingerprints from only ONE of the possible two hands and, purely by coincidence, the 88% LEFT-handed prints they've discovered corresponds precisely to the percentage men who are RIGHT-handed.  This mystery remains unexplained to this day . . .      :)

Fri, 07/05/2013 - 17:17 | Link to Comment Winston Smith 2009
Winston Smith 2009's picture

Along with enough desiccated spermatozoa to produce the Earth's human population many times over.

Fri, 07/05/2013 - 17:50 | Link to Comment EclecticParrot
EclecticParrot's picture

ZH readers who weren't at least 11 or 12 years old when this poster was released in 1976 may think we're being sophomoric, but in truth it was an absolute phenomenon.  The seventies were more conservative than people think, and I can remember classmates getting in trouble for bringing this 'obscene' poster to catholic school, even though she's fully covered in a 1-piece (not even a bikini!), just because the breast anatomy was visible due to the swimsuit's material.  Christ, I remember hearing in the local news that some stores wouldn't sell it to minors -- this is nearly 10 years after the Summer of Love !  Anyway, I assume its clear spot as the greatest whack-off catalyst in the history of mankind may have contributed to Tyler's selecting it.

Fri, 07/05/2013 - 20:50 | Link to Comment Bollixed
Bollixed's picture

"Anyway, I assume its clear spot as the greatest whack-off catalyst in the history of mankind may have contributed to Tyler's selecting it."

No disrespect to the lovely lady, but I thought the Tyler's selecting it had something to do with America metaphorically dying of anal cancer...

Fri, 07/05/2013 - 21:20 | Link to Comment GoinFawr
GoinFawr's picture

Steve Martin called: he wants his material back, including the banjo strings.

Fri, 07/05/2013 - 16:28 | Link to Comment GrinandBearit
GrinandBearit's picture

Farrah didn't have big tits, but she sure had great nipples.

Fri, 07/05/2013 - 16:36 | Link to Comment starman
starman's picture

getting laid was easy in the 70's just like getting laid off these days 

Fri, 07/05/2013 - 16:41 | Link to Comment Tsar Pointless
Tsar Pointless's picture

Listening to some good disco music as I type and thinking of how much I wish we could go back to the 1970s.

Fri, 07/05/2013 - 16:55 | Link to Comment Seer
Seer's picture

Take a plane ride to Manila... (they seem to have captured a lot of 70s-era motorcycles and old music and glittery things)

Fri, 07/05/2013 - 19:14 | Link to Comment Andy Lewis
Andy Lewis's picture

There's plenty of it on YouTube.  Just search on "chic" or "sledge".

Fri, 07/05/2013 - 16:52 | Link to Comment YouThePeople
YouThePeople's picture

Bring back the music scene of 70-76 and I'm on that bus. An incredible time to be young!

Fri, 07/05/2013 - 16:55 | Link to Comment Seer
Seer's picture

Ken? Ken Kesey, is that you?

Fri, 07/05/2013 - 16:58 | Link to Comment KickIce
KickIce's picture

Let's see, we lost the gold standard.  The stick save was made when Reagan announced deficits no longer matter and the cold war with the Soviets.

So what asset bubble can save us now?

Sat, 07/06/2013 - 15:00 | Link to Comment Not My Real Name
Not My Real Name's picture

The stick save was the birth of the petrodollar.

Fri, 07/05/2013 - 17:52 | Link to Comment dark pools of soros
dark pools of soros's picture

how did ZH not use the picture of her when she freaked everyone out and painted herself in gold.. all by herself

http://3.bp.blogspot.com/-YJwUj0BVwEY/UElKXo4qD9I/AAAAAAAABb4/k6vj8GecWMc/s1600/Playboy-2520Farrah-2520July-25201997-2520Gold-2520Paint-25203.jpg

and if you want to see Farrah sparkle go watch her episode on the dating game

http://www.youtube.com/watch?v=xo3FDZjAfwE

 

 

Fri, 07/05/2013 - 18:11 | Link to Comment LawsofPhysics
LawsofPhysics's picture

Interest rates cannot rise, this is not the 70's, please, stop being stupid people.

Sat, 07/06/2013 - 12:13 | Link to Comment Fred123
Fred123's picture

Yeah, and gold will never see 1500 again....dollar up, interest rates up, stock market up, gold down.

Fri, 07/05/2013 - 18:19 | Link to Comment orangegeek
orangegeek's picture

The 70s was full of big salads.

 

Today everything is nice and smooth.

 

No one likes hairy beef curtains.

Fri, 07/05/2013 - 18:30 | Link to Comment stormsailor
stormsailor's picture

man can you not remember how turned on you got when you pulled off a girls bikini at the beach and had all that pale bikini shaped skin and a pretty trimmed bush.  what a turn on.   probably sounds stupid now, but back then before internet porn.  that sight could really get you going.

 

anybody remember looking forward to the new sears roebuck catalog?

 

if you do, can you imagine if you would have had a victoria's secret catalog back then?  god you would probably be dead from dehydration, hahahahahahhahahaahhah.

Fri, 07/05/2013 - 21:25 | Link to Comment cbxer55
cbxer55's picture

I did not need no Victoria's Secret catalog back then. My dad had a basement workshop wall-papered in Playboy and Penthouse centerfolds. And the magazines they came from in an unlocked file cabinet. I drank a lot of water and milk back in them days. ;-)

Fri, 07/05/2013 - 21:46 | Link to Comment stormsailor
stormsailor's picture

not here man, my parents were puritans and sex didn't exist,  such was groing up in a small south carolina town.

 

my great uncle gave my father every playboy from the beginning to july 68 in a big brown bag and i saw them hide it..  i built a wall out of suitcases, got in the rear seat of that big old canary yellow country squire station wagon with that little light on (it was dark) and had the time of my life, course i was only seven and had no clue why i liked it so much, but i knew the future was going to be awesome,  that was the best 8 hour trip i ever took in that station wagon.

 

got my feeling hurt real bad about 2 years later,  the girl i followed around and who showed me so much kindness and affection when i was 4 and 5 years old (she was 14 or 15) made the cover of playboy,  i felt rage, jealousy, pain, etc.........

 

by the time i needed those playboys, about 12.  they were long gone.

Sat, 07/06/2013 - 19:27 | Link to Comment dark pools of soros
dark pools of soros's picture

buy your wife or gf something from victoria secret and you'll get free sunshine softcore spam in your inbox for the rest of your life

Fri, 07/05/2013 - 18:55 | Link to Comment the 300000000th...
the 300000000th percent's picture

Stagflation

Fri, 07/05/2013 - 20:49 | Link to Comment SKY85hawk
SKY85hawk's picture

http://www.zerohedge.com/news/2013-05-01/former-fed-governor-warsh-admits-there-no-plan-b

-           The effectiveness of monetary policy was last discredited in the 1970s. The persistent attempts to revive growth with easy money led to stagflation.  The real world has turned to be opposite to the favored positions of the economics profession: the financial market is not only inefficient but systematically bubble-prone. 

Trying to bring back yesterday through monetary growth will eventually bring inflation, not growth.  This is what the Gov’t wants in order to ‘pay off the Debt’. 

Source: http://www.zerohedge.com/news/2013-01-23/money-cannot-buy-growth

Who remembers the 70's? 

It was a time of Stagflation.

The 'Bob Hope" generation entered their 'spend less-save more' life stage.  OUR Parents!

It should be clear that the baby-boom is in the same life-stage.

Not one Politician will admit they are helpless to restart Economic Growth! 

They will wait this thing out, just like before.

Even if it takes 11 to 15 years!

Fri, 07/05/2013 - 21:17 | Link to Comment Thee Barbarous Relic
Thee Barbarous Relic's picture

Ya know the difference between the 1870s and the 1970s?
In the 1870s a dildo was a steely dan, in the 1970s two dildos were Steely Dan

Sat, 07/06/2013 - 00:46 | Link to Comment Beard of Zeus
Beard of Zeus's picture

I hope so.

I miss Studflation.

Sat, 07/06/2013 - 03:11 | Link to Comment 10mm
10mm's picture

And the Philadelphia Flyers (Broad St Bullies) beat the snot out of the Ruskies on ice. They skated off  the ice and were told either get back on the ice or go back with no money.

Sat, 07/06/2013 - 08:25 | Link to Comment bobbydelgreco
bobbydelgreco's picture

37 coming not 73

Do NOT follow this link or you will be banned from the site!