1. 1970 (having an 11.04% rate of inflation)
2. Increased involvement in the Vietnam War, Great Society programs fully in effect.
"The late 1960's increase in inflation was due to the increase of taxes, increase the issuance of currency and cutting public expenditures, in the Lyndon B Johnson government, in order they could meet the military expenses they where having at that moment thanks to the Vietnam war."
3. Consumers lose purchasing power with inflation forcing them to buy less.
"If there is an increase in inflation but not in salary, the amount of earnings will not be powerful enough overtime, which means American consumers would be needing more money to satisfy their daily requirements."
The First Bank of the United States<span> had been established by Congress at the urging of </span>Alexander Hamilton<span> in 1791. Despite its generally successful operation it was defeated in a renewal attempt in 1811, on account of political considerations. The </span>War of 1812<span>, however, demonstrated the need for a national bank and plans were formulated in 1814 by James J. Dallas, secretary of the treasury. Dallas' suggestions were watered down until in the end, the proposal was viewed as too weak and was rejected. President </span>James Monroe<span> then sought a stronger proposal, and </span>Dallas provided<span> one to </span>John C. Calhoun<span>, chairman of the House committee on the currency. He noted:</span>
Well I don’t think it will effect the us unless they try to cause warfare or there trying to make a new weapon but my predictions are depending if it’s a problem for the United States nothing should happen
C. Uncertainty.
You can see this with the "Lost generation" PEOPLE
