Random Thoughts – 09

As our firm celebrates 50 years of service to clients, here is some of what was happening in the world when the firm was starting out:

• Inflation was spiking from 3.4% to 9.6%
• Food prices were growing roughly 40%
• OPEC caused an energy crisis in cutting production, and oil prices rose 300%
• The US was spending massive amounts on a waning distant war that ended poorly
  
• A deep recession was brewing
• $100 invested in the US stock market and left untouched would be worth $14,000 now

In popular culture:

• Pink Floyd’s The Dark Side of the Moon album was topping the Billboard charts
• The Exorcist was the most popular film
• Best-selling books included Jonathan Livingston Seagull, Burr, The Odessa File, Dr. Atkins’ Diet Revolution, and The Joy of Sex
• The most famous person in America was Elvis Presley
• Magnetic Resonance Imaging (MRI) & Bailey’s Irish Cream were invented
• Late night talk show host Johnny Carson made a joke about a toilet paper shortage, causing people to hoard enough to cause an actual nationwide shortage
• History doesn’t perfectly repeat, but it rhymes…

Alain

Thanks to Shaun Sun for his research.

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