Cost of Living
Yearly Inflation Rate ― 7.62%
Year End Close Dow Jones Industrial Average ― 805
Interest Rates Year End Federal Reserve ― 11.75%
Average Cost of new house ― $54,800.00
Average Income per year ― $17,000.00
Average Monthly Rent ― $260.00
Cost of a gallon of Gas ― 63 cents
1LB of Bacon ― $1.20
Dozen Eggs ― 48 Cents
Radio Shack Tandy TRS80 Computer ― $399.00
8 Track Player ― $169.00
1978 Events
Egypt and Israel sign the Camp David Accords, a crucial step in bringing peace to the two warring nations, during September of 1978. The terms of the accords were negotiated at Camp David during an important summit between the leaders of Egypt, Israel, and the United States. They were signed at the White House by Egyptian President Anwar Sadat, Israeli Prime Minister Menachem Begin, and United States President Jimmy Carter. The Camp David accords created a framework under which a peace treaty was agreed to during the following year ending a 31 year state of war between the two nations that had existed since the creation of the state of Israel.
NASA unveils the first group of women astronauts during January. The group included Shannon Lucid, Margaret Rhea Seddon, Kathryn Sullivan, Judith Resnik, Anna Fisher, and Sally Ride. The women enrolled in astronaut training and completed it in August of 1979. There had previously been a group of 13 women selected to undergo NASA’s astronaut testing in the 1960s but none were chosen to complete their training until 1978. Sally Ride became the first American woman in space in 1983, Kathryn Sullivan became the first American woman to perform a spacewalk, and Shannon Lucid became the first American woman to visit the Mir space station.
The Double Eagle II balloon, piloted by Larry Newman, Ben Abruzzo, and Maxie Anderson, became the first balloon to complete a transatlantic flight during August. The helium-filled balloon traveled over 3,000 miles carrying the three men in a trip that lasted just over 137 hours. They began their journey in Presque Isle, Maine and landed in Miserey, France near Paris. The gondola that carried them measured just 15 x 7 x 4.5 feet.
Dominica Gains Independence From Great Britain.
1. On November 3,1978 the Caribbean island of Dominica became independent from Great Britain. Carib Indians native to South America lived on the island prior to the island’s colonization, but the conflict and disease brought by European settlers decimated the indigenous populations.
2. Dominica was originally claimed and settled by the French but control of the island went back and forth between the French and British from the 1600’s to the early 1800’s.
3. Dominica became a British colony in the late 1700’s and was associated with several different colonial organizations until the 1950’s.
4. In 1967, Dominica got a new constitution which allowed the island to self-govern its own internal affairs.
5. By November of 1978 it gained full independence from the United Kingdom.
The United States Senate ratifies the second of the Torrijos-Carter Treaties during April. The treaties guaranteed that the United States would hand over control of the Panama Canal back to Panama by the end of 1999. The United States had control over the canal since 1903 as a result of the Hay-Bunau-Varilla Treaty. While it was considered a little controversial at the time, this was a political win for US President Jimmy Carter who had helped negotiate the terms of the treaties. The official names of the two treaties were “The Treaty Concerning the Permanent Neutrality and Operation of the Panama Canal” and “The Panama Canal Treaty” and both barely passed in the Senate with just one vote more than a two-thirds majority.
Spain restored its democracy and ended forty years of a dictatorship under Francisco Franco. After the death of Franco in 1975 the country created a new constitution and it was ratified by the Spanish people in a referendum in early December of 1978 and
later signed by King Juan Carlos I near the end of the month. The new constitution transitioned the country into a functioning democracy with democratic institutions while keeping the King as the symbolic head of state.
The People's Temple religious cult was founded by Jim Jones in Indianapolis, Indiana during 1958.
2. Jones moved his church to Ukiah, California in 1965 and then to San Francisco, California in 1971.
3. A group of People's Temple members moved with Jim Jones to the Jonestown compound in Guyana, South America between 1974 and 1977 after Jones was accused of financial fraud.
4. U.S. Congressman Leo Ryan visited Jonestown at the request of former People's Temple members and the relatives of current members. He visited on November 17, 1978 with some observers and journalists.
5. Several residents of the compound asked Ryan for help in returning to the United States. This angered Jones who feared his followers would defect and he ordered a group to kill the five visitors including Congressman Ryan.
6. On November 18th, Jones commanded his followers to drink poisoned punch, many of them willingly drank the poison but there was also evidence that several had to be forced by other followers and armed guards.
7. There was a death toll of over 900 people, more than 300 of them were children. Jones was also found dead of a gunshot wound.
More News and Key Events 1978
Popular Culture
Sports
AFC ― Pittsburgh Steelers
Super Bowl ― Dallas defeats Denver in Super Bowl XII (1977 season)
NHL ― Montreal Canadiens
Masters Tournament – Gary Player
U.S. Open – Andy North
British Open – Jack Nicklaus
PGA Championship – John Mahaffey
LPGA Championship – Hollis Stacy
U.S. Women's Open – Hollis Stacy
Popular Films
Popular Musicians and Songs
Popular TV Programs
Born This Year
Ashton Kutcher ― February 7th
Kobe Bryant ― August 23rd
Josh Hartnett ― July 21st
Technology
Illinois Bell Company introduces first ever Cellular Mobile PhoneSystem
Space Invaders Launches Craze for Computer Video Games
The first computer bulletin board system BBS is created
98% of all American homes have a television
First Test Tube Baby is born on July 25th in England a girl Louise Brown, from in vitro fertilization
Inventions
In Vitro Fertilisation England "the First test tube baby is born"
From thepeoplehistory and Wikipedia
Yearly Inflation Rate ― 7.62%
Year End Close Dow Jones Industrial Average ― 805
Interest Rates Year End Federal Reserve ― 11.75%
Average Cost of new house ― $54,800.00
Average Income per year ― $17,000.00
Average Monthly Rent ― $260.00
Cost of a gallon of Gas ― 63 cents
1LB of Bacon ― $1.20
Dozen Eggs ― 48 Cents
Radio Shack Tandy TRS80 Computer ― $399.00
8 Track Player ― $169.00
1978 Events
Egypt and Israel sign the Camp David Accords, a crucial step in bringing peace to the two warring nations, during September of 1978. The terms of the accords were negotiated at Camp David during an important summit between the leaders of Egypt, Israel, and the United States. They were signed at the White House by Egyptian President Anwar Sadat, Israeli Prime Minister Menachem Begin, and United States President Jimmy Carter. The Camp David accords created a framework under which a peace treaty was agreed to during the following year ending a 31 year state of war between the two nations that had existed since the creation of the state of Israel.
NASA unveils the first group of women astronauts during January. The group included Shannon Lucid, Margaret Rhea Seddon, Kathryn Sullivan, Judith Resnik, Anna Fisher, and Sally Ride. The women enrolled in astronaut training and completed it in August of 1979. There had previously been a group of 13 women selected to undergo NASA’s astronaut testing in the 1960s but none were chosen to complete their training until 1978. Sally Ride became the first American woman in space in 1983, Kathryn Sullivan became the first American woman to perform a spacewalk, and Shannon Lucid became the first American woman to visit the Mir space station.
The Double Eagle II balloon, piloted by Larry Newman, Ben Abruzzo, and Maxie Anderson, became the first balloon to complete a transatlantic flight during August. The helium-filled balloon traveled over 3,000 miles carrying the three men in a trip that lasted just over 137 hours. They began their journey in Presque Isle, Maine and landed in Miserey, France near Paris. The gondola that carried them measured just 15 x 7 x 4.5 feet.
Dominica Gains Independence From Great Britain.
1. On November 3,1978 the Caribbean island of Dominica became independent from Great Britain. Carib Indians native to South America lived on the island prior to the island’s colonization, but the conflict and disease brought by European settlers decimated the indigenous populations.
2. Dominica was originally claimed and settled by the French but control of the island went back and forth between the French and British from the 1600’s to the early 1800’s.
3. Dominica became a British colony in the late 1700’s and was associated with several different colonial organizations until the 1950’s.
4. In 1967, Dominica got a new constitution which allowed the island to self-govern its own internal affairs.
5. By November of 1978 it gained full independence from the United Kingdom.
The United States Senate ratifies the second of the Torrijos-Carter Treaties during April. The treaties guaranteed that the United States would hand over control of the Panama Canal back to Panama by the end of 1999. The United States had control over the canal since 1903 as a result of the Hay-Bunau-Varilla Treaty. While it was considered a little controversial at the time, this was a political win for US President Jimmy Carter who had helped negotiate the terms of the treaties. The official names of the two treaties were “The Treaty Concerning the Permanent Neutrality and Operation of the Panama Canal” and “The Panama Canal Treaty” and both barely passed in the Senate with just one vote more than a two-thirds majority.
Spain restored its democracy and ended forty years of a dictatorship under Francisco Franco. After the death of Franco in 1975 the country created a new constitution and it was ratified by the Spanish people in a referendum in early December of 1978 and
later signed by King Juan Carlos I near the end of the month. The new constitution transitioned the country into a functioning democracy with democratic institutions while keeping the King as the symbolic head of state.
The People's Temple religious cult was founded by Jim Jones in Indianapolis, Indiana during 1958.
2. Jones moved his church to Ukiah, California in 1965 and then to San Francisco, California in 1971.
3. A group of People's Temple members moved with Jim Jones to the Jonestown compound in Guyana, South America between 1974 and 1977 after Jones was accused of financial fraud.
4. U.S. Congressman Leo Ryan visited Jonestown at the request of former People's Temple members and the relatives of current members. He visited on November 17, 1978 with some observers and journalists.
5. Several residents of the compound asked Ryan for help in returning to the United States. This angered Jones who feared his followers would defect and he ordered a group to kill the five visitors including Congressman Ryan.
6. On November 18th, Jones commanded his followers to drink poisoned punch, many of them willingly drank the poison but there was also evidence that several had to be forced by other followers and armed guards.
7. There was a death toll of over 900 people, more than 300 of them were children. Jones was also found dead of a gunshot wound.
More News and Key Events 1978
- Public Service strikes in UK causes major disruption to all services
- US Teachers strike extend summer holidays for thousands of students
- After nearly 30 years The Volkswagen Beetle stops production having manufactured 20 million cars
- Worldwide Unemployment rises after several decades of near full employment
- Gold reaches an all time high of $200.00 per ounce
- The US Dollar plunges to record low against many European currencies
- The Japanese car Imports account for half the US import market following the energy crisis and increase in fuel prices that fuels demand for economy cars
- The European Court of Human Rights finds the United Kingdomgovernment guilty of mistreating prisoners in Northern Ireland
- Sweden becomes the first nation to ban aerosol sprays that are thought to damage earth's protective ozone layer.
- Rhodesia's prime minister Ian Smith and three black leaders agree on the transfer to black majority rule.
- The oil tanker Amoco Cadiz runs aground March 16th on the coast of Brittany. causing an ecological disaster with A slick 18 miles wide and 80 miles long covered about 200 miles (320 km) of Brittany coastline
- Serial killer David Berkowitz, the "Son of Sam," is sentenced on June 12th to 25 years to life in prison
- The US stops production of the Neutron Bomb ( Kills People but leaves buildings and infrastructure standing )
- The first Susan B. Anthony Dollar is minted on December 13th
- Indira Ghandi faces fraud charges in India
- India faces it's longest and worst monsoon season in modern times leaving 2 million homeless
- Bulgarian defector Georgi Markov assasinated by Bulgarian Secret Police using poisoned umbrella tip
- Earthquake strikes Tabas, Iran and surrounding villages killing nearly 20,000
- Roman Polanski flees to France in February 1978, hours before he was to be formally sentenced for rape and other charges against a child
- Nobel Peace PrizeThe Nobel Peace Prize is awarded to Egyptian President Anwar al-Sadat and Israeli Prime Minister Menachem Begin during October of 1978. They were awarded the prize for their work on the Camp David Accords which had been agreed upon during the previous month.
- Israel attacks on southern Lebanon following bus hijacking in Tel Aviv
- A powerful magnitude 6.5 earthquake hits Thessaloniki, Greece
- Due to poor Cold War Relations United States bans sale of latest computer technology to Soviet Union
- Due to poor Cold War Relations United States bans sale of latest computer technology to Soviet Union
- Pope Paul VI dies at age of 80. John Paul I Becomes Pope from August 26th , 1978 and dies just 33 days later on September 28, 1978. Cardinal Karol Wojtyla becomes Pope John Paul II.
- Britain launches the Motability scheme to provide cars for disabled people.
- Worlds Population Estimated at 4.4 billion.
- Karl Wallenda, founder of the Flying Wallendas, dies after falling off a tight-rope
Popular Culture
Sports
NFC ― Dallas Cowboys
AFC ― Pittsburgh Steelers
Super Bowl ― Dallas defeats Denver in Super Bowl XII (1977 season)
NCAA Football ― Notre Dame
MLB ― New York Yankees
NCAA Baseball ― USC
NBA ― Washington BUllets
NBA ― Washington BUllets
NCAA Basketball ― University of Kentucky
NCAA Hockey ― Boston University
GolfMasters Tournament – Gary Player
U.S. Open – Andy North
British Open – Jack Nicklaus
PGA Championship – John Mahaffey
LPGA Championship – Hollis Stacy
U.S. Women's Open – Hollis Stacy
Popular Films
- Grease
- Saturday Night Fever
- Close Encounters of the Third Kind
- National Lampoon's Animal House
- Jaws 2
- Heaven Can Wait
- Star Wars Episode IV: A New Hope
- Revenge of the Pink Panther
- The Deer Hunter
Popular Musicians and Songs
- Bee Gees with " Night Fever and Stayin Alive "
- Paul McCartney and Wings
- John Travolta and Olivia Newton-John
- Rolling Stones
- Commodores with " Three Times a Lady "
- Boomtown Rats
Popular TV Programs
- Happy Days
- Little House on the Prairie
- The Rockford Files
- Good Morning America
- Jim'll Fix It (UK)
- Saturday Night Live
- Wheel of Fortune
- Charlie's Angels
- Quincy, M.E.
- The Muppet Show
- CHiPs
- The Love Boat
- Three's Company
Born This Year
Ashton Kutcher ― February 7th
Kobe Bryant ― August 23rd
Josh Hartnett ― July 21st
Technology
Illinois Bell Company introduces first ever Cellular Mobile PhoneSystem
Space Invaders Launches Craze for Computer Video Games
The first computer bulletin board system BBS is created
98% of all American homes have a television
First Test Tube Baby is born on July 25th in England a girl Louise Brown, from in vitro fertilization
Inventions
In Vitro Fertilisation England "the First test tube baby is born"
From thepeoplehistory and Wikipedia
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