The Last time the Knicks Won
What happened to NYC and the World in 1973?
Sometimes history repeats itself, while at other times it’s a mirror image.
So, while New Yorkers and fans cheer on the Knicks’ championship run, I wondered what happened in 1973, when the Knicks last took it all.
And boy, it sure seems as if the headlines could be written today. There were MAJOR world developments throughout, and a great year to explore on your own.
I’m not going to pass judgment, but I'll share some thoughts and encourage you to consider them on your own and share your thoughts in chat.
Let’s start with the Big Apple.
If you stepped into New York City in 1973, you would find a city that was still one of the world’s financial and cultural capitals—but beneath the surface it was beginning to unravel economically and socially.
Here are some bullet points:
Manufacturing jobs were disappearing from the city.
Middle-class families were leaving for the suburbs (”white flight” and suburbanization).
Tax revenues were shrinking as both people and businesses moved out.
Inflation was accelerating across America, and the 1973 oil shock later that year made things worse.
New York was increasingly financing government spending through borrowing rather than economic growth. This would culminate in the city's near-bankruptcy in 1975.
From 1970–1975, New York lost hundreds of thousands of private-sector jobs while the population declined significantly.
Parallels to today:
Vietnam War hostilities ended on January 27, and a “peace” plan was agreed to today between the US and Iran
Ireland encountered the Troubles and is now facing immigrants who attempted to behead an Irish citizen…caught on camera
Watergate scandal started on July 16. You know where Nixon was impeached and the Washington Post won a Pulitzer
Pinochet takes over Chile/ is that like the US with Venezuela?
Yom Kippur War and OPEC Oil embargo…North Korea secretly deployed a contingent to Egypt. N Korea helping Russia is not new.
The Congress of the United States overrides President Richard Nixon's veto of the War Powers Resolution, which limits presidential power to wage war without congressional approval.
November 11 – Egypt and Israel sign a United States-sponsored cease-fire accord. Something like this has been occurring in Lebanon.
Nixon resigns, and a new Presidency begins.
In 1973, Los Angeles was undergoing a significant political shift and was electing its first Black mayor.
Cuba-US have an agreement to limit hijacking of airplanes. Is this the same this year regarding protests?
U.S.-China Rapprochement is in its first full year
Oh and there was a stock market crash.
If you have 20 minutes, a nice compilation is shared below.
Make it a pleasant Summer Day,
Eric