President Jimmy Carter In a live speech to the American people blamed the long period of recession in the US, on the effects of OPEC's 1973 cuts in oil production and the increases in fuel prices which in turn fueled inflationary pressures. He also said other countries had adapted quicker to the increased fuel prices like Japanese and European auto makers who had much more fuel efficient cars which the American public were now buying.

Ethnic Cleansing by Bosnian Serbs in the "SAFE AREA" of Srebrenica with tales of rape, massacres and psychological torture, the 40,000 women, children and elderly people who were under the protection of Dutch peacekeepers have been forced to flee what was set up as a "Safe Haven" because peacekeeping forces did not have the mandate to stop Serb forces taking over the town. It is also believed but not yet confirmed that over 3,000 Muslim men have been shot and murdered during the ethnic cleansing, but Bosnian Serbian forces are refusing entry to journalists and international organizations to confirm reports. After a number of investigations by the United Nations mass graves were found and the number of men killed was estimated at over 7,000 Muslim men who were shot dead and buried in mass graves. The General in charge General Mladic was later indicted by the War Crimes Tribunal for genocide but is still at large.