http://www.bopnews.com/archives/000333.html#000333
If you want to know why the rich were grouchy at the end of the Carter administration - this graph should tell you. What it shows is the Standard and Poor's 500 - the broad measure of US large stocks - divided by the basket of goods known as "the consumer price index for urban consmers". Or, roughly, whether Stocks are getting ahead of the "hidden risk" of inflation.
Inflation is when demand is reduced below sustainable levels in one area, to be moved to another with higher than sustainable levels of demand. The stock market is one indicator of how the 1970's fell apart, and how Reaganomics offered what seemed to be a solution.