The U.S. Economic Outlook for 1975

MOTHER EARTH NEWS predicts the U.S. economic outlook for fall 1975, with key prices for meat, oil, and automobiles rising. 

| July/August 1975

Beware of Pollyannas who spout that "the recession has bottomed, inflationary forces are almost wrung out of the economy, and we can expect healthy growth once again by fall". It just ain't that easy to expand a nation's — or the world's — economic base anymore and, even if it were, too many' people now know that such growth — in real terms — is very seldom healthy.

Leading European and Japanese economists are beginning to suspect that current economic troubles might well be a prelude to a greater worldwide downturn coupled with yet another round of steeply rising prices.

Even some U.S.forecasters (see William Wolman's Economic Diary in the May 26 Business Week) have begun to hint that the U.S. economic outlook may be in a "staircase recession", a slump that falls, levels off, then falls again. All while inflation continues to eat away at the value of paper currency.

Meat, oil, automobile, and other key prices will go up again this fall, pulling still more prices up with them. Unemployment will remain high for months. More giant corporations will have to be bailed out of financial trouble. More and more people will demand that the government "do something to get this country moving again", and actions taken in response to the plea will continue to do more harm than good. Expect the squeeze on older people and others living on fixed incomes to tighten, despite increases in social security and other such payments. Expect crime to rise. Expect the quality of life, in general, to fall during the months ahead.

Just as Walter Prescott Webb predicted 25 years ago (see The Plowboy Interview in MOTHER EARTH NEWS NO. 32), Western Man's 450-year–long expansionary binge — which was fueled by cheap, plentiful energy and other resources — is now drawing to a close. And, just as predicted, the industrialized nations of the world are having a difficult time understanding what is happening to them. The sooner our "leaders" realize this and begin converting the world's countries to a steady-state economy, the better.

Still, there's no need for you to wait until those leaders wise up. The time was never better for you and your family to make the necessary conversion on your own. If you haven't already done so, learn to become as food and energy self-sufficient as possible and do it. Strive, also, for economic self-sufficiency: Learn a basic trade or set up a home business that will always be in demand and which you or your family can control. Pay off all bills. Tear up credit cards. Put yourself on a pay-as-you-go basis. Stock up on quality tools and books that will help you live better for less by growing your own food, building the things you need, etc.

mother earth news fair 2018 schedule


Next: September 14-16, 2018
Seven Springs, PA

Whether you want to learn how to grow and raise your own food, build your own root cellar, or create a green dream home, come out and learn everything you need to know — and then some!


Subscribe Today - Pay Now & Save 64% Off the Cover Price

Money-Saving Tips in Every Issue!

Mother Earth NewsAt MOTHER EARTH NEWS, we are dedicated to conserving our planet's natural resources while helping you conserve your financial resources. You'll find tips for slashing heating bills, growing fresh, natural produce at home, and more. That's why we want you to save money and trees by subscribing through our earth-friendly automatic renewal savings plan. By paying with a credit card, you save an additional $5 and get 6 issues of MOTHER EARTH NEWS for only $12.95 (USA only).

You may also use the Bill Me option and pay $17.95 for 6 issues.

Canadian Subscribers - Click Here
International Subscribers - Click Here
Canadian subscriptions: 1 year (includes postage & GST).

Facebook Pinterest Instagram YouTube Twitter flipboard