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."
Motives for Exploration Wealth and Religion. The motives for Spanish, French and English explorers were all different, although in some ways, they were the same. They all wanted to find the Northwest Passage, which they believed was a direct and efficient route to the Orient - home of spices, silks and wealth.
National banks are typically commercial banks, many banks in the world like Chase Bnak, Bank of America, Wells Fargo, Citibank, U.S Bank, PNC bank, Capital Bank and others.
