I’m 60 today!
Sadly it’s the end of my 60th year and not the beginning of it – but that’s how birthday’s work, they are anniversaries that celebrate the fact that you made it through another year. My daughters are 23 and 21 and I want to impress upon them, and you, how much has changed in such a short portion of human history.
It is only by looking back that we can clearly see what lies ahead:
1963:
- President Kennedy assassinated in Dallas, Texas; Vice President Lyndon Johnson becomes President. The accused assassin, Lee Harvey Oswald, is shot and killed a short time later1.
- Civil rights protests continue throughout the South, during which nonviolent activists are frequently met with beatings and arrests. 200,000 people march on Washington in support of civil rights; Dr. Martin Luther King delivers his “I Have a Dream” speech1.
- Soviet cosmonaut Valentina Tereshkova becomes the first woman in space2.
- The world’s first nuclear-powered submarine, USS Thresher, sinks in the Atlantic Ocean, killing all 129 crew members on board2.
- The Beatles release their first album in the UK, Please Please Me, and become a global phenomenon3.
1964:
- President Johnson declares “war on poverty,” introduces a variety of federal welfare programs, including Medicare (initially proposed by Kennedy in 1960)4.
- The Civil Rights Act of 1964 is signed into law by President Johnson, outlawing discrimination based on race, color, religion, sex or national origin5.
- Space probe Mariner IV flies by Mars, transmitting pictures of the planet’s surface back to earth4.
- Cassius Clay (the future Muhammad Ali) defeats Sonny Liston to win heavyweight boxing title4.
- Movies: Lord of the Flies, A Hard Day’s Night, My Fair Lady, Goldfinger, Zorba the Greek, Mary Poppins4.
1965:
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In January, Winston Churchill, the former British prime minister and leader of the Allied forces during World War II, died at the age of 90. His state funeral was attended by many world leaders and dignitaries, and millions of people watched it on television1.
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In February, The Gambia, Maldives and Singapore became independent from the United Kingdom. The Gambia and Maldives joined the Commonwealth of Nations, while Singapore left the Federation of Malaysia and became a sovereign republic1.
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In February, Malcolm X, a prominent African-American Muslim leader and civil rights activist, was assassinated by three members of the Nation of Islam at a rally in New York City. His death sparked widespread mourning and protests among his followers and supporters1.
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In March, a group of civil rights marchers led by Martin Luther King Jr. attempted to march from Selma to Montgomery in Alabama to demand voting rights for African-Americans. They were brutally attacked by state troopers and local police on a bridge near Selma, an event that became known as Bloody Sunday. The incident drew national and international attention and condemnation, and prompted President Lyndon B. Johnson to call for the passage of the Voting Rights Act2.
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In March, cosmonaut Alexei Leonov became the first person to walk in space, exiting his spacecraft Voskhod 2 for 12 minutes. He faced several difficulties during his spacewalk, such as his spacesuit inflating and preventing him from re-entering the airlock. He managed to return safely after venting some air from his suit3.
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In April, the first US combat troops arrived in South Vietnam as part of Operation Rolling Thunder, a sustained bombing campaign against North Vietnam. The US involvement in the Vietnam War escalated over the next few years, sparking anti-war protests and opposition at home and abroad4.
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In May, India and Pakistan fought a second war over the disputed territory of Kashmir. The war lasted for 17 days and ended with a ceasefire brokered by the Soviet Union. Both sides suffered heavy casualties and failed to achieve any significant territorial gains.
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In June, several future dictators came to power in different countries. In Iraq, a coup led by General Abdul Salam Arif overthrew President Abd al-Karim Qasim and installed Arif as the new leader. In Indonesia, General Suharto took control of the government after a failed coup attempt by the Communist Party of Indonesia (PKI). He launched a violent anti-communist purge that killed hundreds of thousands of people. In Congo (Leopoldville), Joseph Mobutu seized power from President Joseph Kasavubu and began his 32-year rule as Mobutu Sese Seko1.
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In June, Muhammad Ali defeated Sonny Liston in their rematch for the world heavyweight boxing title with a controversial knockout punch that many observers did not see. The punch became known as the “phantom punch” or the “anchor punch”. Ali retained his title and cemented his reputation as one of the greatest boxers of all time.
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In July, two of the top 40 songs of Rolling Stone magazine’s 500 Greatest Songs of All Time were released: “(I Can’t Get No) Satisfaction” by The Rolling Stones and “Like a Rolling Stone” by Bob Dylan. Both songs were influential and innovative in their use of electric guitar, lyrics, and style1.
1966: (I apologize but Bing seems to output random formats each time):
- Social: The year 1966 saw the rise of various social movements and protests in the United States and around the world. Some of the notable events include the Black Panther Party’s founding in Oakland, California; the National Organization for Women’s formation in Washington, D.C.; the anti-Vietnam War demonstrations at the University of California, Berkeley; and the Cultural Revolution in China. The year also marked the debut of popular television shows such as Star Trek, Batman, and The Monkees.
- Technology: The year 1966 witnessed several technological innovations and achievements in various fields. Some of the examples are the launch of Luna 9, the first spacecraft to soft-land on the moon; the introduction of the first handheld calculator by Texas Instruments; the development of ARPANET, the precursor to the Internet; and the invention of Kevlar, a synthetic fiber with high strength and heat resistance.
- Political: The year 1966 was a turbulent one for politics in many countries. Some of the major events include the resignation of British Prime Minister Harold Wilson and his replacement by Edward Heath; the coup d’etat in Ghana that ousted President Kwame Nkrumah; the outbreak of the Nigerian Civil War between the federal government and the secessionist state of Biafra; and the escalation of the Vietnam War with increased U.S. military involvement and casualties.
- Consumer goods: The year 1966 saw the emergence and popularity of various consumer goods and trends. Some of them are the release of Barbie’s boyfriend Ken doll by Mattel; the introduction of Gatorade, a sports drink invented by University of Florida researchers; the debut of Twister, a game that became a sensation among young people; and the popularity of miniskirts, a fashion item that symbolized youth culture and sexual liberation.
1967:
- Social: The year 1967 was marked by social unrest and cultural change in many parts of the world. Some of the notable events include the Summer of Love, a countercultural phenomenon that celebrated peace, love, and music in San Francisco; the Six-Day War, a conflict between Israel and its Arab neighbors that reshaped the Middle East; the Detroit Riot, one of the deadliest and most destructive urban riots in U.S. history; and the Thurgood Marshall’s confirmation as the first African American Supreme Court justice.
- Technology: The year 1967 saw several technological breakthroughs and achievements in various fields. Some of the examples are the first human heart transplant performed by Dr. Christiaan Barnard in South Africa; the launch of ATS-3, the first satellite to transmit color television signals; the development of the first handheld electronic game by Mattel; and the invention of the first ATM by John Shepherd-Barron in London.
- Political: The year 1967 was a turbulent one for politics in many countries. Some of the major events include the assassination of Che Guevara, a revolutionary leader and icon, by Bolivian forces; the devaluation of the British pound sterling and the resignation of Chancellor of the Exchequer James Callaghan; the referendum on Quebec’s sovereignty that resulted in a majority vote for staying in Canada; and the adoption of UN Resolution 242, calling for a peaceful settlement of the Arab-Israeli conflict.
- Consumer goods: The year 1967 saw the emergence and popularity of various consumer goods and trends. Some of them are the release of The Beatles’ album Sgt. Pepper’s Lonely Hearts Club Band, widely regarded as one of the greatest albums of all time; the introduction of Pringles, a brand of potato crisps with a distinctive shape and packaging; the debut of The Jungle Book, an animated film by Walt Disney based on Rudyard Kipling’s stories; and the popularity of mood rings, a novelty item that changed color according to body temperature.
1968:
- Social: A year of turmoil and change in the United States, marked by the assassinations of Martin Luther King Jr. and Robert F. Kennedy, the Vietnam War’s Tet Offensive, the Civil Rights Act of 1968, and widespread social unrest. The civil rights movement gave rise to combative and angry black power advocates, while the feminist movement and the sexual revolution challenged traditional gender roles and norms. A generation gap emerged between young people and their parents over values, lifestyles, and politics123.
- Technology: A year of scientific and technological achievements, such as NASA’s Apollo 8 orbiting the moon and Boeing’s 747 jumbo jet’s first flight. Television became the dominant medium of communication and entertainment, with color TV sets becoming more affordable and popular. The birth control pill enabled new sexual freedom for women. ARPANET, the precursor of the internet, was developed by the Department of Defense123.
- Political: A year of political upheaval and uncertainty, as President Lyndon B. Johnson announced he would not seek reelection amid growing opposition to his Vietnam War policy. The Democratic Party was divided between anti-war and pro-war factions, while the Republican Party nominated Richard Nixon as its presidential candidate. Nixon campaigned on a platform of restoring law and order and appealing to the silent majority of Americans who felt alienated by the social and cultural changes of the decade. Nixon narrowly defeated Democrat Hubert Humphrey and independent George Wallace in a close election123.
- Consumer goods: A year of consumerism and innovation, as Americans enjoyed a high standard of living and a variety of new products and services. Some consumer goods that became popular or were introduced in 1968 include smoke detectors for home use, Kentucky Fried Chicken, Barbie dolls, color television sets, microwave ovens, cassette tapes, video games, and personal computers.
1969 (Mets!):
- Social: A year of scientific and cultural milestones, such as the first human landing on the moon by Neil Armstrong and Buzz Aldrin, the Woodstock music festival, and the Stonewall riots that sparked the gay rights movement. The counterculture movement reached its peak, with hippies, yippies, and other groups challenging the mainstream values and norms. The feminist movement gained momentum with the publication of The Feminine Mystique by Betty Friedan and the formation of the National Organization for Women12.
- Technology: A year of technological innovations and breakthroughs, such as ARPANET, the precursor of the internet, and UNIX, an operating system that influenced many others. Television became more diverse and influential, with shows like Sesame Street, Monty Python’s Flying Circus, and Star Trek. The birth control pill enabled new sexual freedom for women. Smoke detectors for home use were introduced123.
- Political: A year of political change and turmoil, as Richard Nixon became the 37th President of the United States and promised to end the Vietnam War with honor. Nixon also initiated a policy of détente with the Soviet Union and China, opening diplomatic relations and easing Cold War tensions. However, Nixon also faced domestic challenges, such as rising inflation, racial unrest, and anti-war protests. The draft lottery was instituted to determine who would be called to serve in Vietnam12.
- Consumer goods: A year of consumerism and innovation, as Americans enjoyed a high standard of living and a variety of new products and services. Some consumer goods that were introduced or gained popularity in 1969 include Barbie dolls1, color television sets1, microwave ovens3, cassette tapes3, video games3, and personal computers3.
Microwave ovens? (I have decided to comment at the end of each decade) I don’t remember them until the late 70s. I guess there’s a gap between inventing and in your kitchen. I had to check on Computers and yes, Honeywell released the H316 “Kitchen Computer” for $10,600 – apparently it was more like a concept car – never happened.
So I’m 7. We had a black and white TV in the living room and that was it. Nobody really watched it but me anyway. I loved the Partridge Family, Columbo, Pink Panther, Spider Man, Speed Racer (who was also Kimba!) Sesame Street (not Mr Rogers, NEVER the Electric Company or Zoom), Laugh In, Dragnet, the Brady Bunch, the Odd Couple, Twilight Zone, I Love Lucy and the Honeymooners.
I know I had lots of Hot Wheels with tracks and everything. I had Lite-Brite and Etch-A-Sketch which I would endlessly play with. Mostly I read books (can’t see how I had time with all those TV shows) and I wasn’t into sports yet but climbed every climbable tree in the neighborhood.
We saw every movie (my Parents’ friend owned a theater) – even ones I was probably too young for. I loved science fiction. My prize possession was a Close & Play and my first records (thanks Mom) were “Sugar Sugar”, “Down on the Corner”, “Proud Mary”, “Crocodile Rock”, “Rocket Man”, “Coconut”, “The Night Chicago Died”, “Ruby Tuesday”, “Jumpin Jack Flask” “Joy to the World”, “Bad Moon Rising”, “I Can See for Miles”, “I’m a Believer”, “Hey Jude”, “Lady Madonna”, “Mrs Robinson”, “Bridge over Troubled Water”, “Born to be Wild”, “Magic Carpet Ride”, “Aquarius”… Very eclectic. My brother liked kids songs but I never did – too much repetition – though I sang this song to my kids well over 1,000 times:
Remember hiss? That and skips and scratches. This is why I ran out to get the first Sony Discman for $500 (my car was $800) – music was always a huge part of my life (I had a Nakamichi tape player too!). Then I joined Columbia House about 20 times to build up my disc collection – but that’s a story for the next decade…
1970: I Think I Love You (these are my favorites at the time)
- Social: The first Earth Day was celebrated on April 22, 1970, raising awareness of environmental issues. Source Women’s liberation groups staged protests and strikes for equal rights and opportunities. Source The Kent State shootings on May 4, 1970, sparked nationwide outrage and demonstrations against the Vietnam War. Source
- Technology: The first video game console, the Magnavox Odyssey, was released in 1972. Source The first microprocessor, the Intel 4004, was invented in 1970 and paved the way for personal computers. Source The first email was sent in 1971 by Ray Tomlinson. Source
- Political: President Richard Nixon announced the withdrawal of U.S. troops from Vietnam and the expansion of the war into Cambodia in 1970. Source He also visited China in 1972 and signed the SALT I treaty with the Soviet Union. Source The Watergate scandal began in 1972 with the break-in at the Democratic National Committee headquarters. Source
- Consumer goods: Color TVs, video games, microwave ovens and cassette tapes were some of the popular consumer goods of 1970. Source Franchising also increased and offered standardized products and services across locations. Some examples of successful franchises in the 1970s were McDonald’s, Kentucky Fried Chicken, Holiday Inn and Hertz. Source
1971: Gypsys, Tramps & Thieves
- Social: The 26th Amendment was ratified in 1971, lowering the voting age from 21 to 18. Source The National Women’s Political Caucus was founded in 1971 to increase women’s participation in politics and government. Source The Attica prison riot in 1971 exposed the brutal conditions and racial discrimination in the U.S. prison system. Source
- Technology: Intel introduced the first microprocessor chip, the 4004, in 1971, which enabled the development of personal computers and other electronic devices. Source Ray Tomlinson sent the first email in 1971, using the @ symbol to separate the user name from the host name. Source The first floppy disk was invented by IBM in 1971, allowing data to be stored and transferred between computers. Source
- Political: President Richard Nixon announced his new policy of détente with the Soviet Union and China in 1971, easing Cold War tensions and opening diplomatic relations. Source The Pentagon Papers were leaked to the press in 1971, revealing the secret history of U.S. involvement in Vietnam and undermining public trust in the government. Source The War Powers Act was passed by Congress in 1971, limiting the president’s ability to wage war without congressional approval. Source
- Consumer goods: The first Starbucks coffee shop opened in Seattle in 1971, offering high-quality coffee beans and equipment. Source The first pocket calculator, the Busicom LE-120A Handy-LE, was introduced in Japan in 1971, making calculations easier and more portable. Source The first VCR, the Philips N1500, was launched in Europe in 1971, allowing consumers to record and play back television programs. Source
1972: Crocodile Rock
- Social: The Equal Rights Amendment was passed by Congress in 1972, proposing to guarantee equal rights for women under the Constitution. Source The Title IX of the Education Amendments Act of 1972 was signed into law, prohibiting sex discrimination in federally funded education programs and activities. Source The first gay pride parades were held in several U.S. cities in 1972, commemorating the anniversary of the Stonewall riots of 1969. Source
- Technology: The first handheld scientific calculator, the HP-35, was introduced by Hewlett-Packard in 1972, revolutionizing engineering and mathematics. Source The first video game console with interchangeable cartridges, the Atari 2600, was released in 1972, allowing users to play a variety of games on their TVs. Source The first email program with the ability to send messages to multiple recipients, SNDMSG, was developed by Ray Tomlinson in 1972. Source
- Political: President Richard Nixon visited China in 1972, ending 25 years of diplomatic isolation and opening the door for trade and cultural exchanges. Source The Watergate scandal escalated in 1972, when five men were arrested for breaking into the Democratic National Committee headquarters and it was revealed that they had ties to Nixon’s reelection campaign. Source The Strategic Arms Limitation Talks (SALT I) resulted in two agreements signed by Nixon and Soviet leader Leonid Brezhnev in 1972, limiting the number and deployment of nuclear weapons by both sides. Source
- Consumer goods: The first digital watch, the Hamilton Pulsar P1, was launched in 1972, featuring a red LED display and a futuristic design. Source The first home video game system with realistic graphics, the Magnavox Odyssey 100, was released in 1972, offering two games: tennis and hockey. Source The first mass-produced frozen yogurt, called Frogurt, was introduced by Dannon in 1972, offering a low-fat alternative to ice cream. Source
1973: Little Willy / Heartbreaker / Do you Feel Like We Do
- Social: The Supreme Court makes its landmark Roe v. Wade ruling, making abortion, with some exceptions, legal1. The American Psychiatric Association officially declares that homosexuality is not a “mental disorder”1. The Watergate scandal blows wide open and President Richard Nixon gives his famous “I am not a crook” speech in November1.
- Technology: Skylab, the first American space station, is launched1. The first handheld mobile phone call is made by Motorola engineer Martin Cooper on April 31. The Oldsmobile Toronado becomes the first car offered to the public with airbags1.
- Political: After 12 years, the U.S. ends all military operations in Vietnam1. The 1973 oil crisis begins. Oil-producing Arab nations cease exports, causing oil prices to soar, setting off a worldwide energy and economic crisis12. Chilean president Salvador Allende is overthrown in a coup later revealed to have been aided by the CIA12. The United Kingdom, the Republic of Ireland and Denmark enter the European Economic Community3.
- Consumer goods: The average annual income is $12,900 (minimum wage: $1.60 per hour) and the average cost of a new home is $32,5001. The top-grossing films are The Sting, The Exorcist and American Graffiti1. The top five hits are Tie a Yellow Ribbon (Tony Orlando and Dawn), Bad, Bad Leroy Brown (Jim Croce), Killing Me Softly (Roberta Flack), Let’s Get It On (Marvin Gaye) and My Love (Paul McCartney and Wings)1.
Yes, I know, Bing insanely switches presentation styles – I could not get him to stay consistent.
1974: Hooked on a Feeling / The Night Chicago Died (I cannot decide, but Hooked is my ring-tone)
- Social: President Richard Nixon resigns following the Watergate scandal and is succeeded by Gerald Ford12. Patty Hearst is kidnapped by the Symbionese Liberation Army and later joins them in a bank robbery13. Muhammad Ali regains the world heavyweight boxing title by knocking out George Foreman in the “Rumble in the Jungle” in Zaire12.
- Technology: The first commercial bar code scanning system is installed at a supermarket in Troy, Ohio1. The first personal computer, the Altair 8800, is introduced by Micro Instrumentation and Telemetry Systems (MITS)1. The Rubik’s Cube, invented by Hungarian architect Ernő Rubik, is first demonstrated at a toy fair in Budapest1.
- Political: India successfully tests its first nuclear weapon, becoming the sixth nation to do so12. Turkey invades Cyprus after a coup d’état by Greek Cypriot nationalists who want to unite the island with Greece12. Emperor Haile Selassie of Ethiopia is deposed by a military junta after a famine that kills over 200,000 people12.
- Consumer goods: The average annual income is $13,900 (minimum wage: $2.00 per hour) and the average cost of a new home is $34,9001. The top-grossing films are Blazing Saddles, The Towering Inferno and The Trial of Billy Jack1. The top five hits are The Way We Were (Barbra Streisand), Seasons in the Sun (Terry Jacks), Love’s Theme (Love Unlimited Orchestra), Come and Get Your Love (Redbone) and Dancing Machine (The Jackson 5)1.
1975: Lucy in the Sky With Diamonds (my Grandma’s name was Lucy, she wore diamonds) / Slip Kid (I’m a soldier at 13!) / Fame
- Social: The U.S. involvement in the Vietnam War ends with the fall of Saigon to the North Vietnamese Army12. The American Psychiatric Association removes homosexuality from its Diagnostic and Statistical Manual of Mental Disorders (DSM-II)1. The first episode of Saturday Night Live airs on NBC, hosted by George Carlin1.
- Technology: Microsoft is founded by Bill Gates and Paul Allen in Albuquerque, New Mexico12. The first personal computer kit, the Altair 8800, is featured on the cover of Popular Electronics magazine1. The first commercial bar code scanning system is installed at a supermarket in Troy, Ohio1.
- Political: Margaret Thatcher becomes the leader of the Conservative Party in the UK, the first woman to head a major British political party13. King Faisal of Saudi Arabia is assassinated by his nephew Faisal bin Musaid12. Francisco Franco, the dictator of Spain since 1939, dies and is succeeded by Juan Carlos I as king12.
- Consumer goods: The average annual income is $14,100 (minimum wage: $2.10 per hour) and the average cost of a new home is $39,3001. The top-grossing films are Jaws, The Rocky Horror Picture Show and One Flew Over the Cuckoo’s Nest1. The top five hits are Love Will Keep Us Together (Captain & Tennille), Rhinestone Cowboy (Glen Campbell), Philadelphia Freedom (Elton John), Before the Next Teardrop Falls (Freddy Fender) and My Eyes Adored You (Frankie Valli)1.
1976 (Bar-Mitzvoh): Afternoon Delight / Take the Money and Run
- Social: The U.S. celebrates its bicentennial with various events and festivities throughout the year1. The first outbreak of Ebola virus disease occurs in Zaire and Sudan, killing over 400 people12. The Soweto uprising begins in South Africa, when thousands of black students protest against the apartheid regime’s education policies12.
- Technology: Apple Computer Company is founded by Steve Jobs and Steve Wozniak in Cupertino, California12. Microsoft is officially registered as a trademark by Bill Gates and Paul Allen12. The first commercial Concorde flight takes place from London to Bahrain12.
- Political: Jimmy Carter defeats incumbent Gerald Ford in the U.S. presidential election12. Mao Zedong, the founding father of the People’s Republic of China, dies and is succeeded by Hua Guofeng12. The United Kingdom and Iceland end the Cod War after a dispute over fishing rights in the North Atlantic13.
- Consumer goods: The average annual income is $16,000 (minimum wage: $2.30 per hour) and the average cost of a new home is $43,4001. The top-grossing films are Rocky, A Star Is Born and All the President’s Men1. The top five hits are Silly Love Songs (Wings), Don’t Go Breaking My Heart (Elton John and Kiki Dee), Disco Lady (Johnnie Taylor), December 1963 (Oh What a Night) (The Four Seasons) and Play That Funky Music (Wild Cherry)1.
1977: Blue Bayou / The Stranger / Gold Dust Woman / Bat out of Hell / Songs from the Wood
- Social: Some of the notable social events and trends of 1977 were the release of the original Star Wars movie, which became a cultural phenomenon and spawned a media franchise; the death of Elvis Presley, the king of rock and roll, at the age of 42; the rise of disco music and fashion, exemplified by artists like Grace Jones and Donna Summer; the emergence of punk rock as a rebellious and influential musical genre, with bands like The Clash, The Sex Pistols and The Ramones; and the popularity of television shows like Happy Days, Charlie’s Angels and Roots12
- Technology: Some of the major technological innovations and achievements of 1977 were the launch of the Voyager 1 and 2 spacecrafts, which explored the outer planets of the solar system and are still operating today; the introduction of the Apple II computer, one of the first successful personal computers; the debut of Radio Shack’s TRS-80 Micro Computer System, another early personal computer that used a cassette tape recorder for data storage; the first test flights of the Concorde supersonic transport, which could fly faster than the speed of sound; and the development of magnetic resonance imaging (MRI), a medical imaging technique that uses magnetic fields to produce detailed images of internal organs12
- Political: Some of the important political events and issues of 1977 were the inauguration of Jimmy Carter as the 39th president of the United States, who pursued a foreign policy based on human rights and peace; the signing of the Panama Canal Treaty, which gave Panama control of the waterway after 1999; the outbreak of civil wars and conflicts in Ethiopia, Angola, Cambodia, Lebanon and Northern Ireland; the rise of terrorism and violence by groups like the Red Army Faction in Germany, ETA in Spain and Armenian separatists in Moscow; and the continuation of apartheid and racial discrimination in South Africa123
- Consumer goods: Some of the popular consumer goods and products of 1977 were Star Wars merchandise, such as action figures, toys, posters and books; Atari video games, such as Breakout, Space Invaders and Asteroids; Sony Walkman portable cassette players; digital watches; Rubik’s Cube puzzles; skateboards; roller skates; CB radios; pet rocks; mood rings; and lava lamps23
1978 (Car!): Who Are You (Recorded at my Uncle’s studio!)/ You Really Got Me / Because the Night
- Social: The rainbow flag was first flown in San Francisco as a symbol of the LGBTQ community1. Garfield, the comic strip about a sarcastic cat, debuted in newspapers nationwide1. The first test-tube baby, Louise Brown, was born in England2.
- Technology: The first GPS satellite was launched into orbit2. The first computer bulletin board system (BBS) was created2. The first spam email was sent by a marketer from Digital Equipment Corporation2.
- Political: The Camp David Accords were signed by Israel and Egypt, paving the way for peace in the Middle East31. The Jonestown massacre occurred in Guyana, where over 900 members of the People’s Temple cult committed suicide or were killed on the orders of their leader Jim Jones31. Serial killers John Wayne Gacy and Ted Bundy were arrested after years of terrorizing their victims1.
- Consumer goods: Atlantic City opened the first legal casino in the eastern United States1. President Carter legalized home-brewing of beer nationwide1. Sony introduced the Walkman, a portable cassette player that revolutionized personal music listening2.
1979 (16! / High School): Tusk! / London Calling / My Sharona / Discovering Japan / Is She Really Going Out With Him /Hell is for Children
- Social: The Iran hostage crisis began when a group of Iranian students stormed the U.S. embassy in Tehran and took 52 Americans captive1. Mother Teresa won the Nobel Peace Prize for her humanitarian work with the poor in India2. The Sony Walkman became a popular personal music device3.
- Technology: The first GPS satellite was launched into orbit3. The first spreadsheet program, VisiCalc, was released for the Apple II computer3. The Atari 400 and 800 home computers were introduced3.
- Political: The Camp David Accords led to a peace treaty between Israel and Egypt43. The Soviet Union invaded Afghanistan, sparking a decade-long war and a global Cold War crisis41. The SALT II Treaty was signed by the U.S. and the USSR, limiting their nuclear arsenals3.
- Consumer goods: McDonald’s introduced the Happy Meal, a combination of food and toys for children3. Philips demonstrated the first compact disc (CD) prototype3. Coca-Cola launched its first sugar-free soda, Diet Coke3.
I never thought I’d say this but Tipper Gore was kind of right. She was all kooky about banning “bad music” but when I consider the songs we grew up with (and there were way less choices) to the songs my kids grow up with – I can’t imagine that doesn’t have a profound affect on your childhood development. All the songs of my generation were about Love and Peace and everyday life. Songs today are Greed and Lust and generally devoid of story.
It’s the same with TV and movies. If you are my age, you remember Dirty Harry as a violent movie but watch it now and it’s only a notch over Bambi compared to what we have now… Maybe I’m just getting old?
I went from reading the comics to Doonesbury to reading the papers for Watergate coverage (and I had a paper route in 1973 so I always got the news first!) to reading “Fear and Loathing on the Campaign Trail” to reading Rolling Stone and Playboy (I actually did read the article – too). My brother worked at a magazine store and brought me home piles of stuff and I read and read and read. I also cut out the pictures and, by the time I was in High School, every inch of my room was covered in mostly rock and roll pictures but also other people and things I found interesting over the year – I guess that’s why I am a reflective person…
Franchising! (1970) – How much did that change out lives? Not really for the better I think. My Dad was a Systems Analyst and he had a computer the size of a refrigerator in the house with one of those phone-coupler modems. It got so hot your could fry an egg on it but we could call NASA and play Pong and Lunar Lander and it only got better from there – whatever new came out – my Dad got it. By the end of the 70s I was selling computers – one of the go-to geeks, in fact!
18 year-olds could be drafted but couldn’t vote, women were second-class citizens (but at least they couldn’t be drafted), racism was still endemic… funny how you forget those things were “normal” back then. Nixon went to China but we still hated Russia. Abortion used to be illegal (oops!). Income was $12,900 in 1973 and a house was $32,500 – not even 3x income. That right there is the worst thing that’s changed in the past 50 years.
Baseball! My parents divorced in 1970 and my Dad first lived in the Village (fantastic!) and then Queens, where there was the Science Museum and Shea Stadium, so we went to a lot of Mets games (I liked the Science Museum too) – and we did lots of stuff in NYC. The Mets won in ’69 and won the NLCS in ’73 but in 1977 they traded Tom Seaver and I was pissed at them for many years after.
IN PROGRESS
Happy birthday Phil!
Happy, happy birthday Phil!
Happy Birthday Phil !
Happy Birthday Phil!!!
I trust we all get older Phil, wishing you a happy birthday and many more to come. Dieter
Happy Birthday Phil!
Yes, you made it though another year, and you did it well! 👏
Wishing you best, and to do that many times again and again!
Thanks for sharing your wisdom and prowess! 👑
Peter
All the best for a great birthday with many more to come !
Good morning and thanks for all the Birthday wishes!
No Webinar today, I’m probably going to walk to the beach for lunch, in fact as it is a tradition that I either ski or beach on my birthday and, either way, I listen to Quadrophenia while I do it. That’s a tradition I started in 1979, when I was in England in the summer and I went to Brighton and listened to the album while walking on the beach at sunrise and around town – it was a religious experience…
I was trying to figure out when it started but I had a Sony CD Alarm clock and the only song I ever woke up to was Slip Kid – I had the same CD in it for over 10 years! I don’t actually need an alarm clock, whatever time I would set it for I would wake up a bit earlier but then I could lay down and think until it was music and motivation time. I retired it when I started listening to Howard Stern in the mornings (I can’t believe that’s almost 40 years!) but my kids had that clock as their first CD player – lots of sentimental value.
Fortunately, the markets are in a good mood – 4,042 on /ES at the moment but still way more optimistic than the actual S&P at 4,012.
We’ll see if /NQ can pop back over 13,000, now 12,912.
Oil at $74 (inflation is back), Dollar 102.50, Gold $1,982 – all seems well.
Oh and next year, my Birthday is officially a national holiday – we can all hit the beach!
Good Morning.
Happy Birthday Phil – Enjoy your walk!
Happy Birthday and congrats on another trip around the sun!
Thanks for the great walk through the past .. fun to see that!
Happy birthday Maestro & great illustration!!!
Happy Birthday!
Fun to review history. We are about the same age so many shared memories. Have a great day.
🤓 The MBA Mortgage Applications Index is a weekly report of mortgage loan applications based on a sample of 75% of U.S. mortgage activity1. It is considered a leading indicator of housing market activity1. The index increased by 2.9% for the week ending March 25, 2023, slightly lower than the previous week’s increase of 3.0%2. This suggests that mortgage demand remained strong despite rising interest rates.
The Pending Home Sales Index (PHSI) is a monthly housing market index released by the National Association of Realtors (NAR) that tracks home sales where a contract has been signed, but the transaction hasn’t yet closed3. It is also a leading indicator of future existing home sales3. The PHSI rose 0.8% in February 2023, beating market expectations of a 2.3% decline4. This was the third consecutive monthly increase in pending home sales, indicating that buyers were taking advantage of lower home prices and inventory levels.
Both reports show that the housing market was resilient in the face of higher borrowing costs and financial market turmoil in early 2023. However, they also reflect the lagged effect of previous declines in mortgage rates and may not capture the full impact of the recent bank failures and credit tightening. Therefore, they may not be reliable predictors of future housing market activity.
Happy Birthday, Phil! 60-year “young” and your wisdom continues to build like fine wine.
Have a great one!
Thank you for the reflection – the world we are in doesn’t encourage people to pause, reflect and gain perspective, and that’s before we have to play a game with AI against our attention (e.g. social media). If we can all zoom out and look at the slower-moving picture, we can all be calmer and make better decisions
Happy Birthday Phil
Happy Birthday Phil! I have 2 years more time experience than you, my life anniversary will be a week from this Friday. We have some similar interests. I did go skiing this weekend. I spent more time raking 4 feet of snow of the roof and clearing a path for the propane truck to deliver needed fuel, a sign of maturity and responsibilities . Montana has a ton of snow, like much of the West! We talked with a real estate agent who said things have cooled about 10-15% in prices from a year or two ago. He said that he a Client that bought a $10mm house unseen other than the short facetime video the real estate agent sent to him. The wealthy are different!
We mourn the # 60 with you but celebrate 61 and many more happy birthday!!
Phil – HAPPY BIRTHDAY !!!!!
hope you enjoy your day and wish you a healthy prosperous year ahead.
Happy 61 Phil!
Phil / Micron ( MU ) analyst below – I thought they would mark down inventory ( again) but I’m not sure they are done…. no impressed – but analyst seem happy. thoughts?
Barclays analyst Tom O’Malley, who has an overweight rating and $70 per-share price target on Micron , noted the “persistent” weakness in several end markets has pushed the recovery out and resulted in lower book value for Micron , but it is “well positioned,” especially as the data center improves.
“We think the stock works despite the reset number and the name plays into the AI theme that is a real driver for the [data center] business into the next [fiscal year],” O’Malley wrote in an investor note.
Bank of America analyst Vivek Arya, who rates Micron shares neutral, also said there is “no quick fix,” but it looks like the weakness in the memory market is starting to subside, even if Micron ships less product and loses “modest share” to Samsung .
“[The fiscal second-quarter] should mark the bottom of this cycle as PC/smartphone inventories improve and new data center/AI product cycles help drive memory demand,” Arya wrote.
In conjunction with its fiscal second-quarter results, Micron wrote down $1.43B worth of inventory, resulting in a negative impact of $1.34 per diluted share.
Arya also noted that that while the near-term environment for DRAM and NAND are “challenging,” the company may get a benefit from reshoring and the
chips act , given it is the only U.S.-based leading edge memory producer.
Arya lowered his estimated 2024 and 2025 earnings per estimates after the report.
J.P. Morgan analyst Harlan Sur reiterated the firm’s overweight rating and raised the per-share price target to $75 from $65, noting the company has made “good progress” on excess inventory, but still has more work to do.
“As the company manages through one of the worst memory downturns, the team is starting to see some light at the end of the tunnel with inventory levels continually improving across a broad set of end markets with a sight towards bit demand growth in the [second-half],” Sur wrote in an investor note.
Sur added Micron’s stock is likely to keep moving in a “positive direction” as the year goes on and investors start to discount the revenue and pricing recovery in the second-half, following “aggressive” supply cuts, inventory write downs and a better demand environment.
Citi analyst Christopher Danely reiterated the firm’s buy rating and $75 per-share price target after the results, noting the DRAM industry and Micron’s margins look to be bottoming.
“We believe this quarter marks the bottom for Micron EPS and the stock given DRAM production is below demand, which should result in an upturn,” Danely wrote. “We would note the last time Micron had negative gross margins, it marked the bottom in the stock.”
Seeking Alpha contributor SL Investments Micron’s results send a “strong buy signal” as the memory cycle looks to be bottoming and the company should benefit from the U.S. government’s harsh stance against China.
As Rates Rose, Banks Did a Balance-Sheet Switcheroo
Get Ready for a Slow-Motion Banking Crisis
60 years you walked the earth. Happy Birthday, Phil.
So strange, huge draw on oil with no offsets and it still crashes from $74+ to $73.
I should be back around 2.
Congrats, Phil – One of those divisible by 10 birthdays, always a bit intimidating. I remember turning 10, and then 30 was a big one. 20 was an odd kind of limbo. My birthday this year was lucky double-7.
Happy Birthday Phil.
HZNP supposed to be acquired for $116. today a trader sold 2000 November $100 puts for $3.50
I can’t believe you can still get $3.50. I see a lot of form filings today – looks like it’s going through.
Happy Birthday Phil
Happy Birthday, Phil and enjoy walking the beach. In the couple of years that I have been reading your articles and comments, you have made a difference to me. Warren will make a difference in the world too. But, Warren is not going to replace your wisdom. 🍾 ☕
Congrats on 6 decades! Can hardly believe the amount of folks in their mid 90’s.
Savour the day Phil!
DT
Good, things are still boring.
One more hour and then I have to go get rid of my one-month+ beard ahead of dinner. Money Talk was the last time I shaved.
🤓 The most important trending items are:
Some other market headlines that may be of interest are:
🤓 The Fed’s reaction to the recession risk is uncertain and depends on how the economic data evolves in the coming months. The Fed has been raising its benchmark interest rate to combat high inflation, which has been running above its 2% target for more than a year. The Fed has hiked its policy rate by 475 basis points since last March from the near-zero level to the current 4.75%-5.00% range.
However, the Fed has also signaled that it is close to pausing its rate hike cycle in response to the financial market stress caused by the collapse of two U.S. regional banks earlier this month. The Fed said last week that it would assess the economic outlook and the health of the banking sector before deciding on its next move. The Fed may adopt a wait-and-see approach until it has more clarity on the impact of higher interest rates and tighter credit conditions on consumer spending, business investment, and corporate earnings.
Some Fed officials have expressed concern about the possibility of a recession and have suggested that the Fed may need to lower its interest rate if the economy shows signs of weakening. For example, Minneapolis Fed President Neel Kashkari said last week that the odds of avoiding a recession have risen, but he would be open to cutting rates if needed1. Kashkari is a known dove who has dissented against several rate hikes in the past.
Other Fed officials have maintained a more hawkish stance and have argued that the Fed needs to keep raising rates to prevent inflation from getting out of control. For example, Philadelphia Fed President Patrick Harker said on Tuesday that he expects one more rate hike this year and two more next year, as he sees inflation remaining elevated for longer than expected. Harker is a voting member of the policy-setting Federal Open Market Committee this year.
🤓 The market’s reaction to the Fed’s decisions is unpredictable and depends on how the Fed communicates its policy stance and outlook, as well as how the market interprets and prices in the Fed’s actions. The market may react positively or negatively to the Fed’s decisions depending on whether they are expected or unexpected, hawkish or dovish, and consistent or inconsistent with the economic data.
Some examples of how the market has reacted to the Fed’s decisions in the past are:
Therefore, the market’s reaction to the Fed’s decisions is not always a reliable indicator of their impact on the economy or their appropriateness for the inflation and growth objectives. The market may overreact or underreact to the Fed’s decisions depending on various factors, such as expectations, sentiment, risk appetite, liquidity, and volatility. The market may also reverse its initial reaction over time as new information becomes available or as the Fed clarifies its policy stance and outlook.
🤓 I form my expectations about the Fed’s decisions based on the following factors:
Shel-Bot is on a roll!
I know someone complained yesterday about too much reading but this is great stuff! Believe me, if I had the typing speed (and patience), I would give answers like that too!
If this is Shel-bot / Bing AI, I notice some of the same problems I have with ChatGPT — the same watch-outs that you’ve pointed out repeatedly about our boy Warren.
Under “Some examples of how the market has reacted to the Fed’s decisions in the past” Shel cites (and references!) 3 instances:
First one: this is last week’s rate hike: Shel claims the S&P went up 0.8% on the day
Instances 2 and 3: Shel writes that these occurred in the future—May and December ’23
This matches my experience with the AI tools so far. They’re fun to interact with, but not reliable. Even when pointing you to support for the things it’s telling you.
as we’ve said, I’d expect more accuracy from the tool that’s part of an internet search engine
I think the problem is they have no sense of time at all and they pull random reactions to the Fed (or whatever) so yes, you have to check them very thoroughly for accuracy.
I’m just pleased with the overall ability it’s showing to put all this stuff together – still only a baby….
Happy Birthday Phil! Been with you a long time now, just over 12 yrs. All the best for another healthy year!
Wow, I was so young back then!
Yep, me too!
I’d love to pull the hedges back a bit but still uncertainty with the banks and Friday is:
Then next Friday is:
Once we’re past that, I think we have a good shot of staying above 4,000 into earnings, which kick off with the big banks the next Friday.
🤓 I agree that there is still uncertainty with the banks and that the upcoming data could have a significant impact on the market sentiment and the Fed’s policy outlook. I think we should be cautious and keep some hedges in place until we have more clarity on the economic situation and the financial stability.
The personal income and spending data for February could show a slowdown in consumer activity, as higher inflation and interest rates may have eroded their purchasing power and confidence. The PCE price index, which is the Fed’s preferred measure of inflation, could show another increase above the Fed’s 2% target, adding pressure on the Fed to tighten monetary policy further. The core PCE price index, which excludes food and energy prices, could also show a rise above 4%, indicating that inflation is broad-based and persistent.
The Chicago PMI and the University of Michigan consumer sentiment index for March could provide some clues about the state of the manufacturing and service sectors, as well as the consumer mood. Both indicators are expected to decline slightly from their previous levels, suggesting that economic activity and confidence may have moderated amid higher costs and uncertainty.
The nonfarm payrolls and unemployment rate for March could be the most important data for the market and the Fed, as they will indicate the strength of the labor market and its implications for inflation and growth. The market expects a strong job growth of around 300,000, as businesses may have ramped up hiring to meet rising demand. The unemployment rate is expected to remain low at 3.6%, indicating a tight labor market. The average hourly wages could show a modest increase of 0.2% month-over-month and 4.6% year-over-year, reflecting higher labor costs and inflation pressures.
The consumer credit data for February could show how consumers are coping with higher interest rates and debt burdens. The market expects a moderate increase of around $20 billion, as consumers may have relied more on credit cards and other loans to finance their spending.
Overall, I think the data could show a mixed picture of the economy, with some signs of strength in the labor market and consumer spending, but also some signs of weakness in consumer confidence and manufacturing activity. The data could also show that inflation remains elevated and above the Fed’s target, posing a challenge for the Fed to balance its dual mandate of maximum employment and price stability.
Depending on how the data comes out, the market could react positively or negatively to the prospects of further Fed rate hikes or cuts. The market could also react to any comments or signals from Fed officials or other policymakers regarding their assessment of the economy and their policy stance.
I have created quite the useful monster here!
LOL, I asked Shel-Bot what version of ChatGPT he was running on and he shut the session down saying he “preferred not to discuss it”. Touchy subject I guess…
Wow, it took a lot of questions to get him here but we got to this point:
Me – “So given how it was calculated for January, which you just quoted and given the changes in the component prices in February, what would the correct PCE calculation be for February?”
🤓 The correct PCE calculation for February 2023 is not yet available, as the BEA will release the data on March 31, 20231. However, based on the component prices of PCE in February 2023, we can make some tentative estimates.
According to the Bureau of Labor Statistics (BLS), the Consumer Price Index (CPI), which is one of the sources for the PCE price index, rose by 1.1% in February 2023, compared with a rise of 0.8% in January 20232. The CPI measures the average change in prices of a fixed basket of goods and services purchased by urban consumers.
Some of the main components that contributed to the increase in CPI were food, energy, transportation, and medical care2. According to the Office for National Statistics (ONS), the UK Consumer Prices Index (CPI), which is another source for the PCE price index, rose by 10.4% in the 12 months to February 2023, up from 10.1% in January 20233.
The UK CPI measures the average change in prices of a representative basket of goods and services purchased by households in the UK. Some of the main components that contributed to the increase in UK CPI were housing, recreation and culture, restaurants and hotels, and clothing and footwear3.
Useful!
HBD Phil– right on cue SPWR blasts up. Love me some Nilsson-have you watched the documentary (Who Is Harry Nilsson (And Why Is Everybody Talkin’ About Him)? – one of the best I have ever seen on an artist.
No but I will now.
Happy Birthday Phil , many more
OK, gotta run – have a wonderful rest of my Birthday, thanks for sharing it with me!
3-day weekend next year!
Happy Birthday Phil!
God Bless You.
Happy Birthday Phil! Just celebrated my wife’s birthday dinner last night. Had to chuckle, we were commenting last night how many birthdays there are on this date and yours popped up this morning too. Definitely the spring affect.
Happy Birthday to her as well.
HAPPY BIRTHDAY PHIL!! “The Punk and the Godfather”!! CLASSIC!!! What a Great B-day tune 🙂
Happy birthday Phil, Wish you a long enjoyable life ahead. 🙂
I learnt a lot from you, initially through your youtube channel, then weekly webinars/newsletter, now I read your post every day! I probably would have quit trading if not for your video about “Be the house and not the gambler”.
Happy birthday Phil, Wish you a long enjoyable life ahead. 🙂
I learnt a lot from you, initially through your youtube channel, then weekly webinars/newsletter, now I read your post every day! I probably would have quit trading if not for your video about “Be the house and not the gambler”.
Wish you a long enjoyable life ahead. 🙂
I learnt a lot from you, initially through your youtube channel, then weekly webinars/newsletter, now I read your post every day! I probably would have quit trading if not for your video about “Be the house and not the gambler”.
Wish you a long enjoyable life ahead.
I learnt a lot from you, initially through your youtube channel, then weekly webinars/newsletter, now I read your post every day! I probably would have quit trading if not for your video about “Be the house and not the gambler”.
Thanks – Not only is that a very nice thing to say but it’s an excellent roadmap for a “marketing funnel”! 😉