It’s 1973 again. But worse

Conflict in the Middle East has sent pump prices soaring. There’s an erratic Republican president in the White House. The auto sector is struggling to compete against more technologically advanced foreign imports. Separatism is bubbling up in Canada, and even though a minority opinion, is starting to suck up political oxygen. The cost of living is an ever-present concern. And, most important, the long-term outlook for economic growth is eroding, a fact that politicians seem intent on ignoring as they pile up deficits. That was 1973 – but it might sound more than a little familiar today. The pa…