1974 was pretty shitty in the UK too. The IRA was bombing pubs and shops several times a week, the coal miners union took advantage of the oil crisis to demand a massive pay hike, and went on strike, crippling the economy. The government couldn't give the miners union what they wanted because the other unions were watching and waiting, so instead the whole country switched to a 3 day working week and rationed street lighting (creating a kurfew).

Personally, I think the 3 day working week is a great idea though.