In which John Green teaches you about the economic malaise that beset the United States in the 1970s. A sort of perfect storm of events, it combined the continuing decline of America's manufacturing base and the oil shocks of 1973 and 1979 and brought about a stagnant economy, paired with high inflation. Two presidential administrations were scuttled at least in part by these economic woes; both Gerald Ford and Jimmy Carter are considered failed presidents for many reasons, but largely because of an inability to improve the economy.