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Digital Subscriptions > Newsweek International > 31st May 2019 > The Archives

The Archives

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1970 “We are definitely in a recession or a depression,” the owner of a Los Angeles TV sales and repair shop told Newsweek. “Whatever it is, it’s here.” In the wake of years of heavy spending on social programs at home and the war in Vietnam abroad, U.S. stock prices were down, interest rates were up, and a growing number of Americans were out of work. Newsweek profiled several people struggling to adjust. “I guess I don’t want a depression,” one college student said. “I wouldn’t have time to be active against the war if I had to worry about eating.”

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Newsweek International - 31st May 2019