They don't seem to recall:
Malaise
Wear a sweater
Gas lines
And about two dozen other catastrophes.
Hyperinflation; in those days, products for sale were typically individually price-tagged, and I'm sure that some here will remember the can of peas at the grocery store, for example, with its top sticker being $1.39, and if one tore that off, it'd reveal the price the preceding week was $1.09, and then if one pulled that off, down to the third tag, the price from the week before that would be 99 cents, and by the time one got to the fourth tag, it'd be 79 cents from merely a month ago.
Until God interrupted things and gave us Ronald Reagan, we were definitely headed for Weimar Days under Jimmy Carter.