During Nixon´s administration, the country has had a long and proper post-war time, and there hadn´t been a recession since the Great depression, from which america came out thanks to WWII, the post war benevolent times were coming to an end due to an extensive international competition, Europe was now fully functional, and had left behind the reconstruction era, and the third world countries were starting to catch up with cheap wages, the industrialization also cut manufacturing jobs and the unemployment rates rose up in the country.
