Early decade parts and recessions
Jul 21, 2022 16:24:54 GMT 10
Post by astropoug on Jul 21, 2022 16:24:54 GMT 10
So far, it seems since the 80s, every early part of each decade has been heavily defined by a recession. The early 80s and early 90s were defined by a recession, the early 00s saw the dot-com bubble bursting, and a recession partially caused by that, 9/11, and corporate scandals like Enron, the early 10s were defined by the recovery from the Great Recession, and the early 20s were defined by the COVID-19 recession.
You have to go back to the early 70s to find a recession-less early decade part. In fact, the early 70s, being pre-stagflation, had the best economy of any 70s era, and was basically an extension of the 60s (like most other things). Even then, things like the end of the Bretton Woods system were a precursor to the crappy 70s economy. The early 60s and early 50s, as far as I can tell, didn't have a recession, or at least, a big one. The early 40s literally saw the end of the Great Depression with World War II, and despite being a TERRIBLE period in human history, there definitely wasn't a recession in the era, that's for sure. The early 30s? The absolute worst economic downturn in history, defined heavily by Herbert Hoover. And the 20s didn't start off "roaring". It actually started with the Spanish Flu and a terrible recession. It wasn't until 1922 that the Roaring Twenties as we know them really came in.
Has anyone else noticed this? How big a role do you think they play in ending a decade's culture and beginning a new one?
You have to go back to the early 70s to find a recession-less early decade part. In fact, the early 70s, being pre-stagflation, had the best economy of any 70s era, and was basically an extension of the 60s (like most other things). Even then, things like the end of the Bretton Woods system were a precursor to the crappy 70s economy. The early 60s and early 50s, as far as I can tell, didn't have a recession, or at least, a big one. The early 40s literally saw the end of the Great Depression with World War II, and despite being a TERRIBLE period in human history, there definitely wasn't a recession in the era, that's for sure. The early 30s? The absolute worst economic downturn in history, defined heavily by Herbert Hoover. And the 20s didn't start off "roaring". It actually started with the Spanish Flu and a terrible recession. It wasn't until 1922 that the Roaring Twenties as we know them really came in.
Has anyone else noticed this? How big a role do you think they play in ending a decade's culture and beginning a new one?
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