I do remember the 70's and have had similar thoughts. The news is indeed painful to watch.
What a big, big mess we are in...but what is the solution?
The only thing I can say is that turning our economy into a consumer's economy where the only thing we produce is shopping and consumerism has been terrible. I just got my banking statement and my interest was under one percent. Where is the incentive to save money????
Cheap credit is always a bad idea and I wish we could only blame Bush (I am a left-wing democrat) but the democrats are doing nothing either, and although I like Barack Obama (and would never vote for McCain), I don't see him proprosing a great solution either.
The economic stimulus package, which both parties endorsed, was stupid, stupid, stupid. I remember the 1970's too (who can't forget the Iranian hostage crisis as well?)...
I think we are sliding into another great depression.....
I'm with you--looks like the '70s all over again. But I have a way to lighten your mood! Make sure to visit my blog on Sunday--I'm running another silly sweepstakes, & you're a pretty good funny caption-writer! 
Please do not give them ideas!
By the way, did you see this article from the Wall Street Journal that begins:
"I don't want to alarm anybody, but maybe it's time for Americans to start stockpiling food."
http://online.wsj.com/article/
SB...7227532621.html
I remember the 70's. I'm hoping that this time we actually learn our lessons. We seem to be doing some things better, than we did last time around.
The market is pushing for more fuel efficient transportation. Manufactures seem to be trying to come up with some real alternatives. Houston seems to actually be trying to put in some public transportation - that will be a miracle if it happens.
My first political memory is Ford pardoning Nixon. I was furious that some show was preempted. I was on the green shag rug, and I asked Dad what Pardon meant.
He explained that the President broke the law but he wouldn't be sent to jail because that would look bad to other countries.
I ask, "If you were President could I do what ever I wanted and not get into trouble"
My Mom answered, "Not if I was still your Mother!"
BTW - me asking if Dad was president instead of both parents wasn't sexist - My Mom wasn't a US citizen. She was a Canadian scientist brought down from McGill to Baylor to work on kidney transplants.
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