Breakthroughs and everyday innovations from the year.
HEADLINES ON April 5, 1973
Full News Archive
- Headline: Banks Demand Repayment Amid Scandal. Impact: The defaulted loans led to a financial panic that eventually inspired the invention of those 'Get Rich Quick' schemes we see all over late-night TV. Thanks, Equity Funding Corp!. Fact: Did you know that in the world of finance, the term 'default' actually means you're just really good at being bad at paying back loans? It's an art form!.
- Headline: Last Prisoner Finally Freed from Vietnam. Impact: Capt R T White's freedom sparked an unexpected trend where POWs became instant celebrities. This culminated in a reality show that nobody asked for, 'Survivor: Vietnam Edition'.. Fact: Fun fact: Capt R T White was not just a prisoner; he was possibly the world's first 'freedom influencer'. Who knew freedom came with a side of Instagram?.
- Headline: US-China Relations on the Rise. Impact: Jenkins' visit to Peking opened the floodgates for American fast food chains to invade China, leading to the global domination of the burger. Who knew diplomacy could taste so greasy?. Fact: They say diplomacy is like making a gourmet meal - it often involves a lot of mixing ingredients that don't quite belong together!.
- Headline: S.E.C. Plans Intensive Inquiry Into Methods Used by Company. Impact: The S.E.C.'s inquiry into fraud at Equity Funding Corp set a precedent for future corporate scandals, leading to a reality where every corporate executive has a 'Get Out of Jail Free' card.. Fact: Ever notice how corporate fraud is like a magic trick? One moment you're a millionaire, and the next, you disappear into legal oblivion!.
- Headline: New Zealanders, Enjoying a Strong Boom, Are Trying to Preserve a Handsome Environment Too,. Impact: New Zealand’s struggle to balance boom and environment set off a worldwide trend of eco-friendly practices that led to the birth of an entire generation of hipsters obsessed with organic avocados.. Fact: New Zealand's entrepreneurs were so good at adapting that they probably could have turned a potato into a tech startup if pressed!.
- Headline: Theater: ‘Entertainment’. Impact: The review of 'Smile, Smile, Smile' became a cultural touchstone, inspiring countless generations to seek out smiles, leading to the rise of motivational posters everywhere.. Fact: Did you know that smiling is scientifically proven to confuse people? Just like that show, 'Entertainment' - no one really knows what's going on!.
- Headline: Administration Retreats on $689‐Million Cut in Welfare Aid to States. Impact: The administration's retreat on welfare cuts led to a never-ending cycle of political backpedaling, setting a standard for every politician who ever promised not to flip-flop.. Fact: They say politics is just like a dance. But if that's true, then why are they all doing the cha-cha of indecision?.
- Headline: Sikkim's Ruler Appeals to India For Troops to Quell Violence. Impact: The King of Sikkim's appeal for troops led to an international crisis management trend, where every little dust-up required a global task force. Thanks for the overreaction, King!. Fact: Did you know that calling for troops is the historical equivalent of throwing a tantrum? Someone always ends up having to clean up the mess!.
Wall Street Time Machine
PG
Procter & Gamble
Procter & Gamble - If you invested $1,000 in 1973, it would be worth $185,625 today (185.6x return)
CVX
Chevron
Chevron - If you invested $1,000 in 1973, it would be worth $200,926 today (200.9x return)
MO
Philip Morris
Philip Morris - If you invested $1,000 in 1973, it would be worth $2,433,689 today (2433.7x return)