1975 In the UK inflation continues to spiral
out of control reaching 24.2% the price of Petrol increased by nearly
70% in one year, but the US sees a start back down with US inflation going
down to 9.2%, both governments use interest rates as a way of trying to
control inflation with the US Federal Reserve at 7.25% and The Bank of
England at 11.25%. Meanwhile one of the true success stories of modern
times when Bill Gates and Paul Allen create the company Microsoft. The
First of the new hobby computers are starting to appear including Altair
8800 and the battle for Video recorder standards of VHS and Betamax starts.
This is also the year the Vietnam war finally ends.
Cost of Living 1975
How Much things cost in 1975
Yearly Inflation Rate USA 9.2%
Year End Close Dow Jones Industrial Average 858
Interest Rates Year End Federal Reserve 7.25%
Average Cost of new house $39,300.00
Average Income per year $14,100.00
Average Monthly Rent $200.00
Cost of a gallon of Gas 44 cents
Average cost new car $4,250.00
Foster Grant Sun Glasses $5.00
What Events Happened in 1975
Spanish Dictator
Franco Dies
OPEC agrees to raise crude oil prices
by 10%.
The British Conservative Party chooses it's
first women leader, Margaret Thatcher
Oil goes over $13.00 per barrel
The Vietnam War ends as Communist forces take
Saigon and South Vietnam surrenders unconditionally
The US Carries out Vietnam "Operation
Babylift" bringing Vietnamese orphans to the US
New York City avoids bankruptcy when
President Gerald R. Ford signed a $2.3 billion loan
US Pulls out of Cambodia
The first oil pipeline to serve Forties oilfield
starts pumping North Sea Oil
The Suez Canal reopens for the first
time since the Six-Day War
The Unemployment Rate in the US reaches 9.2%
and recession is recognized by President Ford
King Faisal of Saudi Arabia Assassinated
Baader-Meinhof guerrillas take 11 hostages
at West German embassy in Stockholm
The First ever strike by Doctors in
the US causes hospitals to reduce services
Britains inflation rate jumps 25%
Beginning of 15 years of civil war between
Maronite Christians and Muslim militias in Lebanon
Indira Gandhi India Prime Minister
is found guilty of electoral corruption
The UK implements the Sex Discrimination and
Equal Pay Act
London underground train crashed into a brick
wall at Moorgate in London's Financial district
The United Kingdom votes yes in a referendum
on staying in the European Community
Angola Gains Independence From Portugal
Suriname Gains Independence From Netherlands
Popular Culture 1975
Bruce Springsteen releases his third album,
Born To Run, widely regarded as one of the greatest of all time
The film version of The Who's Tommy premiers
in London
Popular Films
Jaws
The Towering Inferno
Benji
Young Frankenstein
The Godfather Part II
Funny Lady
Murder on the Orient Express
The Return of the Pink Panther
Tommy
One Flew Over the Cuckoo's Nest
Popular Musicians
Minnie Riperton
Aerosmith
Black Sabbath
Chicago
Bob Dylan
David Bowie with " Fame "
Alice Cooper
The Eagles with " Best of My Love "
Jefferson Starship
Elton John with Island Girl and " Lucy
in
the sky with Diamonds "
Kiss
Led Zeppelin
John Lennon
Bob Marley and the Wailers
Paul McCartney and Wings
Pink Floyd
Paul Simon
Queen
Bruce Springsteen
The Who
ZZ Top
Technology 1975
Construction
of the Trans-Alaska Pipeline System begins
Bill Gates and Paul Allen develop a BASIC
program for the Altair 8800
The name "Micro-soft" (for microcomputer
software) and Microsoft becomes a registered trademark
NASA launches the Viking 1 planetary probe
toward Mars.
US Apollo and Soviet Soyuz 9 spacecraft link
up in space and Russian cosmonauts and American astronauts shake hands
BIC launches first disposable Razor
The Microcomputer Altair 8800 is released
Work on the Alaskan Oil Line begins
Sony introduces Betamax videotapes and Matsushita
/ JVC introduce VHS
Tuvalu Gains Independence From Great Britain
Mozambique Gains Independence From Portugal
Inventions Invented by Inventors and Country
( or attributed to First Use )
