1890- 1920 A Very Painful Coming of Age
1920-1929 Let the Good Times Role
1930-1945 Century's Most Difficult Period
1946-1960 Economic Prosperity Eases Accepting a Changing World
1961-1984 Living in Turmoil caused by changing Society Mores
1985-2000 The Great Moderation
2001-2018 A contentious Time
Rest of the Story
Very Painful Coming of Age
Federal Reserve Act of 1913
eventually solved liquidity problems
1916 Measles kills 12,000 children
It was a period of social activism and political reform beginning in the 1890s and continuing to the early 1920s. Exposing political machines to eliminate government corruption was an important progressive goal.
Progressives began a never ending struggle with ups and then down control oligopoly power. Progressives also sought regulation of monopolistic trust corporations through antitrust laws which were seen as a means to promote consumer benefit through fair competition.
A mixed economy
sector help for individuals and private industry.
A problem like the
parasite, which made many southern workers and students tired
was solved , by the
massive public-health campaign, working with government, radically changed
the economic landscape of the Southeastern United States.
They hoped to create a more democratic federalist republic by putting election reform high on their agenda. Post WW I Communists and unions created fears of anarchy so conservative government returned. A second Red Scare followed WW2. Then the War on Drugs. Then 9/11 created a climate fear made more severe when Bush 2 coining the brand War on Terrorism. Then climate fear. Are politicians and media warmongers making us paranoid?
Economic Wellbeing would slowly but continuously increase.
Let the Good Times Role
but not before a Short Post WW1 Recession
Republican Led Expansion
Constitutional amendment allowed for
Stock Market Crashed
|Wall Street and Business flourished and both provided the financing to Help Rebuild Europe.|
Century's Most Difficult Period
Keynes won the battle with classical economists, or did he?
Scottsboro most famous of many publically allowed atrocities.
WW 1 should have been avoided especially since the unintended consequence was WW 2
Russia stopped "the"
US Sponsored Iranian Coup
Lack of Global
Stagflation from Unfinanced Vietnam War and 2 Oil Crises Cured by a Fed Sponsored Seriouse Recession
Ronald Reagan Cut Taxes, Increased Military Spending and began a long deregulation era
1970's middle income stagnation
Expected governme t retirement liabilities explod.
Immigration redirected away from nationality discrimination and toward families and skilled immigrants.
Elderly hurt by Inflation and an inadequate safety net was shoveled by 1983 reform act
1985-2000 The Great Moderation
Aids kills 200,000
"Contract with America" gives Republican the1994 congress.
Real Minimum Wage Continues Down
Gramm–Leach–Bliley Act Anti regulation ends
Glass Steagall Act control of Wall Street excesses.
2001-2018 A contentious Time
This periods benefited from an end to previous period turmoil.
Medicare Part D, Tax cuts
Great Recession Ended Quickly, recovered slowly.
White middle class consternation caused extensive net, gender role difficulties
Voters continued to demand all government activities helping them and wanted cuts in other programs to lower the deficits.
Both parties gladly provide the first and continued to ignore the second
US Deaths from Infectious Disease source
Cost of War
Nineteen-month World War 1 killed 116,516 from all causes with 204,002 wounded in action. The resulting peace treaty severely penalized Germany and divided the Ottoman Empire among the winners. These winners continued their 19th Century Western Colonialism, which planted the seeds for Arab Unrest.
Four year World War 2 killed 405,399 from all causes
with 670,660 wounded in action. Losers were not punished. Russian Bear having suffered 26.6 military and civilian deaths used their newly occupied eastern European territory to provide a protective buffer.
Three year Korean War killed 36,574 with 103,284 wounded in action. South Korea remained free. Japan felt safe and used a small defense budget to build industrial capital and rejoined the developed world.
The very long Vietnam
killed 58,220 with over
As of 5/29/12 Iraq War killed 4,425 with 32,223 wounded with few important positive results.
After WW 2 the Russian Communists seized power in Poland, closed access to Berlin and the Western Allies countered with an airlift. Russia exploded an atomic bomb. Communists won the Chinese Communist Revolution.
The 1950-53 Korean War had UN forces fighting against North Korean Communists invaders.
Russia exploded a Hydrogen bomb, put down revolts in Poland and Hungary, and launched 2 Sputniks.
The 1956 Suez Canal Crisis caused tension between Western allies.
Military and political advisors wanted to use nuclear weapons in the Korean War against China and again wanted them used against China in reference to Taiwan and Formosa. Ike didn't listen. The US 1960 U-2 Spy Plane Incident ended the Eisenhower Administration's chess game with Communism and it also ended the very brief Paris Peace Conference. Ike had been trying unsuccessfully for eight years to control a renegade CIA. He had wanted the expose the missile gap fear created by the CIA.
JFK didn't listen to his advisors who also wanted to use nuclear weapons in relation to the 1961 Cuban Missile Crisis. A more peaceful blockade settled the crisis.
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1975 New York City $1.3b paid back + interest
1979 Chrysler Motors $1.5b paid back + interest
1982 Oklahoma-based Penn Square Bank $65m
1984 Continental Illinois Bank bailout $14b
1980's Savings and Loan Bailouts $124.6b 
2009-10 Great Recession TARP cost $24b, Detroit cost $16b Positive results GM and Chrysler workers kept their jobs. Quick action by two administrations helped create a quick US economic recovery while Europe still dilly dallies. At 2% additional economic growth per year the higher GDP is worth about $300 billion/year.
U.S. Individual Well-Being