Is the Country in Trouble?
The 19th Century Ended with Monarchs
in Control of Europe,
|Not Good Events
Rest of the Story
Keynes won the battle with classical economists
or did he?
Marshal Plan rebuilt Europe and also helped U.S. economy. Truman Doctrine
hoped to contain
fears about communism.
|Progressive Era continued as US slowly accepted social responsibilities including hookworm parasite elimination which made southern workers and students more productive.
War and Segregation Turmoil
dominated the decade.
2 Small Recessions
|Economic Expansion grew the middle class.
|Voters accepted Two Tax Cuts and Medicare D expansion but not the increased federal debt.
Yellow Fever Epidemic3
|Progressivism began a movement away from Oligopoly Power toward Public Social Responsibility. US Yellow Fever3 eliminated.
2 Oil Crises
Elderly were Hurt by Inflation
and an Inadequate Safety Net.
|Ronald Reagan Cut Taxes, Deregulation Era Began, Middle Class Wages Stagnated, Home Equity Loans Replaced Home Improvement Loans, Government Debt and Future Liabilities Exploded
|A Flat World and Free Trade Continued Middle Class Wage Stagnation.
Economy Expanded as Wall Street and
Business Helped Rebuild Europe.
|Great Recession Ended Quickly as Government Printed What Could Be Money, Health Care Expanded, Many Already With Government Subsidized Health Insurance2 Abhorred Changes
|1The devastating effects of wars on the human condition make them the most terrible event. The devastating effects of unemployment on the human condition make it the second most terrible event. Prepared by Walter Antoniotti
|2Company Paid Tax Free Health Insurance, Medicare Over Budget, Veterans Health Care, Medicaid, Hospital Must Help Uninsured with the Cost Paid by Society 7/30/15
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20th Century Decade Evaluation
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1900 US Leading Killer Tuberculoses Deaths would fall steadily to science with 9,582 2014 cases and 536 mostly foreign born 2011 deaths.
1902 Scarlet Fever deaths peaked at close to 5,000 and then slowly dropped thanks to penicillin.
1905 Last Yellow Fever epidemic killed 20 in US as misquote control eliminated cause. 1936 vaccine ended disease.
1916 Measles 12,000 mostly children died. Vaccine finally eliminated most cases by early 1980's.
1918 Spanish Flu 500,000 US death in 1918 with a US total of 675, 000
1921 Diphtheria 206,000 cases, 15,520 deaths and mostly children died
1951 Fluoride use ended most cavities which ended the dentist feared lives of many children and adults.
1953 Polio 57,628 cases with 21,000 paralyzed A Vaccine followed and US Polio is now about gone.
1957-58 Asian Flu 70,000 died in US.
1968-69 Hong Kong Flu 34,000 died in US.
1985-95+ AIDS killed ten to twenty thousand per year in 1970's. Annual deaths peaked at 41,699 in mid 1990's
and then they quickly dropped due to super drug development and availability. Total US deaths were 658,507.
1960's Cures for Measles, Mumps, Rubella and a 1995 Chicken Pox made childhood safer and more enjoyable as did seat belts,
infant safety seats, bicycle safety helmets, and in 1962 government sponsored child protective services made children even safer.
Cost of War
Nineteen-month World War 1 killed 116,516 from all causes with 204,002 wounded in action. A peace treaty severely penalized Germany and divided the Ottoman Empire among the winners. These winners planted the seeds for Arab Unrest with continued 19th Century Western Colonialism.
Four year World War 2 killed 405,399 from all causes
with 670,660 wounded in action. Losers were not punished. The 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 nation.
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 Warhad UN forces fighting against North Korean Communists invaders. Eisenhower's cutting off oil to SK brought peace.
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 until new President Eisenhower's put pressure on British pound sterling.
Military and political Korean War advisors wanted to use nuclear weapons 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 Eisenhower chess game with Communism. It also ended the very brief Paris Peace Conference. Ike tried unsuccessfully for eight years to control a renegade CIA, its fake missile gap and the resulting Military Industrial Complex.
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.
NAFTA Failed Many Middle Income Workers
Will history repeat itself with political promises that won't work?
U.S. Individual Well-Being
1) Consistent economic growth is key to the citizen well-being.
Think how public safety net growth has steadily increased
since the 1930's making the Great Recession less devastating.
2) Scientific achievements have continuously added to citizen well-
being. Think disease control, smart phones, streaming audio
video improvements, Gillette Stadium...
3) Personal Income which is a function of nature and nurture has
increased continuously if not always rapidly. Think Russia, China,
and Europe's really slow recovery from the Great Recession ...
The Basics Cost Less
|Most Goods Cost Much Less Per Hour
Houses Are Much Larger
Lead Over Japan/Germany Growing