The New York Times has an article comparing the late 70′s inflation to our current situation in 2008.

That got me to thinking, the 00s are a lot like the 70s, at least from a national perspective.

• Early 70s, the US was caught in a foreign war that was sucking the economy dry and causing civil unrest at home.
• 00s, the US is caught in a foreign war that is sucking the economy dry and causing civil unrest at home.

• 1979, unrest in the mideast caused oil prices to jump and created higher fuel prices/gas shortages.
• 00s, unrest in the mideast and global demand for oil causes oil prices to jump to over $100 a barrel.

• 1976, a country shocked by two tems of Republican incompetence elect a democrat to office.
• 2008, a country shocked by two terms of Republican incompetence will likely elect a democrat to office.

I could think of some more, but it’s interesting we haven’t really learned any lessons in the last 30 years. Looks like this country is repeating more of the same. The next president, republican or democrat, is going to have a long road. They will inherit a complete mess, and likely by demonized for issues beyond their control with the 2012 election rolls around.