1970s Inflation Explained in 16 Minutes

In 1981, American mortgages hit 18.6%. But inflation was already 5.5% in 1969 — four years BEFORE the oil crisis. So who actually started the 1970s inflation? Here's the whole story in 16 minutes. This is the case file on the Great Inflation: four clues, one sneaky culprit, and the brutal cure that finally stopped it. No equations. If you've ever complained about the price of eggs, you're qualified. You'll learn: • Why Washington signed up for "a little inflation" after WWII • How Nixon cut the dollar's last link to gold in 1971 — "temporarily" • Why price controls made prices come back angrier • The Rumor: how inflation expectations made it self-fulfilling • What the 1973 and 1979 oil shocks really did • How Paul Volcker broke it with ~20% interest rates • The same four boxes to check in today's news CHAPTERS 0:00 The Receipt: 18.6% Mortgages 1:09 Clue #1: The Promise 3:29 Clue #2: The Leash (Gold & Nixon) 5:46 The First Fire: Price Controls 6:44 Clue #3: The Rumor 8:38 Clue #4: The Spark (Oil Shocks) 10:14 The Fire Nobody Put Out 12:30 Volcker's Cure 14:24 Today: The Same Four Boxes 15:40 The Verdict The Cynical Insider reads the receipts behind the stories they sold you. Subscribe for the next case file: In 2022, inflation hit 9%. Why didn't that turn into a decade? SOURCES The Great Inflation — Federal Reserve History: https://www.federalreservehistory.org... Gold Convertibility Ends — Federal Reserve History: https://www.federalreservehistory.org... Anti-Inflation Measures — Federal Reserve History: https://www.federalreservehistory.org... Employment Act of 1946 — Federal Reserve History: https://www.federalreservehistory.org... Oil Shock of 1973–74 — Federal Reserve History: https://www.federalreservehistory.org... Oil Shock of 1978–79 — Federal Reserve History: https://www.federalreservehistory.org... Humphrey-Hawkins Full Employment Act — Federal Reserve History: https://www.federalreservehistory.org... Paul A. Volcker — Federal Reserve History: https://www.federalreservehistory.org... Nixon, Address to the Nation, Aug 15, 1971 — American Presidency Project: https://www.presidency.ucsb.edu/docum... Carter, Address to the Nation, July 15, 1979 — American Presidency Project: https://www.presidency.ucsb.edu/docum... Abrams, "How Richard Nixon Pressured Arthur Burns," Journal of Economic Perspectives (2006): https://fraser.stlouisfed.org/files/d... BLS Monthly Labor Review, May 1981 (COLA coverage): https://www.bls.gov/opub/mlr/1981/05/... Historical CPI & inflation rates — US Inflation Calculator: https://www.usinflationcalculator.com... History of U.S. postage rates: https://en.wikipedia.org/wiki/History... FOMC statement, Sept 16, 2026 — Federal Reserve: https://www.federalreserve.gov/moneta... This video is for education and entertainment, not financial advice. Today's figures (Chapter 8) are as of early October 2026. #inflation #1970s #economics