The Friday File: Fifty years ago today, three DC police officers caught five burglars breaking into the Democratic National Campaign Committee in the iconic Watergate Building in Washington. Economically, from 1/1/73 through Richard Milhouse Nixon’s resignation on 8/8/74, the S&P 500 fell about 50% as the US economy slid into recession. As for inflation, in 1972 it was 3.3%, in 1973 it was 6.3%, and in 1974 it reached 11%.