U.S society
The cold war effected American economy greatly there was Inflation cause by Vietnam War spending and increased oil prices from the disputes in the middle east. Inflation was rising by 13% and the cost of importing oil was skyrocketing. Interest rates were very high so loans to by homes and run business were becoming too expensive. In October of 1973, Arab nations placed an embargo on oil because the U.S supported Israel in the six day war. This led to an energy crisis that cause American to moved to smaller cars and use coal and nuclear power for energy.
There was also a new fear that consumed the american society the Red Scare. The Red Scare was the fear of communism and it took over the lives of many Americans during the Cold War period.
There was also a new fear that consumed the american society the Red Scare. The Red Scare was the fear of communism and it took over the lives of many Americans during the Cold War period.
