Why does Minecraft look like this?

I just downloaded Minecraft 1.7.4 after a long break but I'm having a big problem with my graphics. Pretty much all of the textures are missing. I can move around, and I can see the black outline around each block, as well as the sun, but not much else. This also happens without OptiFine or any texture packs installed so I know it isn't that. Here's a screenshot of what's happening:

Why does Minecraft look like this

My specs are:
MSI Radeon R9 270X (14.1 beta)
AMD FX-8320
6GB RAM
Samsung 840 256GB SSD

Added (1). Using 1.7.2 and turning off mipmapping hasn't worked for me

ben

I have had that problem to.
Downgrade to 1.7.2. Its 1.7.4 graphic bugs
You should be fine with optifine on 1.7.2

Hope this works for you

Michael

If 1.7.2 is the same try turning off MipMap in video settings.

Potato