In the capsule today…
We find President Nixon enacting a series of economic measures in response to inflation, which became known as “Nixon shock.” The package included wage and price freezes, surcharges on imports, and cancellation of the convertibility of the dollar into gold.
In theaters we find a coming of age film, set in North Texas Cybill Shepherd makes her film debut in “The Last Picture Show.” Director Peter Bogdanovich spotted her on the cover of Glamour magazine, and gave her the part after a short meeting.
And we find a song on the radio by Jonathan Edwards. Jonathan recorded the song out of necessity when one of the tracks he recorded his album was accidentally erased. Instead of redoing the song, he did sang one instead.
What is the year? (answer below).
[Photo: Getty Images]
The year... 1971!