The year was 1979
Jimmy Carter, President
Average Cost of a new house $58,100
Average Income per year $17,500
Gallon of Gas cost 86 cents
Year end close Dow Jones Indusrtrial Average 838
Sony Walkman introduced for $200
Interest rates year end Fedaral Reserve 15.25%
Price of oil reaches a new record $24 per barrel
SALT II arms limitation talks signed by US and USSR
Margret Thatcher elected Prime Minister in UK
Ayatollah Khomeini returns to Tehran, Iran after 15 years exile in France and takes over the Iranian law enforcement, courts and goverment ad ministration and finally seizes power in Iran
Three Mile Island accident after fire at the reactor in PA.
3000 Iranian radicals, mostly students invade the American Embassy in Tehran and 90 Americans are taken hostage
Lord Mountbatten and three others assassinated by the I.R.A.
China institutes the one child per familt rule to help control its exploding population
Russia invades Afghanistan
11 fans are killed and dozens injured at a WHO concert at the Riverfront Coliseum in Cincinnati, Ohio
