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The Sunny Seventies refers to the United States economic boom between 1971 and 1979, specifically in the growth of the consumerist economy, skyrocketing home and real estate values, the dominance of US exports abroad, and the introduction of new technologies into the financial services industry to expediate stock trading in a bull market that lasted from 1970 until the Meltdown of 1979.
While not as long-lasting as the economic boom of the 1930's, the Sunny Seventies resulted in a greater percentage of economic growth and influx of financial capital. However, unlike the modest recession in the early 1940's, the boom of the 1970's resulted in a deep, worldwide depression into the mid-1980's and a period of stagnant growth in many countries into the mid-1990's.
The boom of the 1970's also continued the trend of mass suburbanization seen in the late 1940's and diversification of the cities, and occurred concurrently with the explosive growth of the Sun Belt states as well as the West, an enormous influx of immigrants from Asia and Africa and the "thawing" of Cold War relations between the United States and France during the detente era of the Dawley administration and the efforts of the Eisler administration to curb military spending. Culturally, the 1970's introduced a growth in the popularity of professional sports other than baseball, especially collegiate football and basketball, saw a tripling in television ownership and programming syndication, and saw a resurgence in Hollywood following the deregulation of the industry in 1973.