Breakthroughs and everyday innovations from the year.
HEADLINES ON December 16, 1971
Full News Archive
- Headline: Price Panel Reduces Medical Cost Inflation. Impact: This move led to a series of convoluted bureaucratic procedures that inadvertently spawned a black market for 'unofficial' medical advice, resulting in the rise of underground osteopaths known as 'bone benders' who charged double for their 'unregulated' services.. Fact: Fun fact: If you think medical costs are high now, just wait until the next time someone tries to justify a 2.5% increase in the cost of band-aids..
- Headline: Kamchatka Earthquake: Shaking Siberian Shores. Impact: The tremors from this quake ultimately shifted tectonic plates just enough that they triggered a minor volcanic eruption, which was mistaken for a new, trendy coffee shop opening in a nearby town, resulting in the world's first 'lava latte.'. Fact: Did you know that the Kamchatka Peninsula is home to some of the most active volcanoes in the world? At least the quakes keep the residents on their toes..
- Headline: Zulfikar Ali Bhutto denouncing U.N. Security Council. Impact: Bhutto's fiery speech inspired a wave of impassioned speeches worldwide, inadvertently launching a new trend of political leaders trying to one-up each other in theatrical denunciations, leading to the first-ever 'Dramatic Politician Awards.'. Fact: Bhutto was known for his eloquence; in fact, he could probably convince a rock to roll over if he tried hard enough..
- Headline: Garrison Pleads Not Guilty; Says He Is Being Repressed. Impact: Garrison's claims of repression set off a chain reaction of conspiracy theories that fueled a pop culture phenomenon, leading to a series of outrageous conspiracy-themed reality shows that still haunt us today.. Fact: In the world of conspiracy theories, the only thing more dangerous than the truth is the truth's potential for a sequel..
- Headline: Soviet Ignores Warnings. Impact: The USSR's blatant disregard for warnings led to a series of miscommunications that caused a diplomatic incident where a Soviet delegation accidentally sent a 'Thank You' note instead of a rebuttal, leading to decades of ironic diplomatic humor.. Fact: They say ignorance is bliss, but in the world of international relations, it often leads to very awkward dinners..
- Headline: Berrigan Defense Is Given Government's Witness List. Impact: This legal maneuver prompted a slew of legal dramas that inspired a whole genre of courtroom thrillers, paving the way for the next great American pastime: watching lawyers argue on screen instead of in real life.. Fact: Did you know that courtroom dramas are just real-life events dressed up in fancy suits and dramatic music? Who needs reality TV?.
- Headline: TEXAS INSURER VOTE BACKS REALIGNMENT. Impact: This vote marked the beginning of a long and tedious corporate restructuring trend that resulted in more jargon than actual change, leading to a national shortage of buzzword bingo cards at corporate meetings.. Fact: Did you know that corporate realignments are like rearranging deck chairs on the Titanic? It feels productive until you remember the iceberg is still there..
Wall Street Time Machine
INTC
Intel
Intel - If you invested $1,000 in 1971, it would be worth $199,890 today (199.9x return)
JNJ
Johnson & Johnson
Johnson & Johnson - If you invested $1,000 in 1971, it would be worth $590,335 today (590.3x return)
PG
Procter & Gamble
Procter & Gamble - If you invested $1,000 in 1971, it would be worth $373,578 today (373.6x return)