Tuesday, July 30, 2013

1992

In 1992, the US economy had GDP growth of 1% in Q1, 2.6% in Q2, 3% in Q3, and 3.6% in Q4, recovering from the nadir of -1% in Q2 of ’91. This was a terrible economy.

In 1992, the US was recovering from its first FIRE economy recession with new patterns of job recovery (slower, shallower gains).

In 1992, riots happened in LA with one man being brutally beaten on national television. No one went to jail for it.

In 1992, the US had a 3rd party candidate receive 19% of the popular vote.


In 1992, the media portrayed the youngest fighter pilot in WW2 (shot down over the ocean) as a wimp to cover for the Democrats running the first draft dodger.

In 1992, Goldman Sachs was at the vanguard of the capture of the Democrats with Rahm Emanuel running the new "in your face" style of campaign fundraising.

In 1992, the GOP became the aggressor in the previously unnamed culture wars with Pat Buchanan’s speech at the GOP convention. This allowed the media to portray the right as attackers and the left as victims, despite the left pushing for more liberal policies the next 20 years.

In 1992, Buchanan warned of the dangers of unchecked immigration, especially from Mexico.

In 1992, Dan Quayle warned of the dangers of glorifying single motherhood with Murphy Brown.

In 1992, Ross Perot warned of the dangers of debt and offshoring US manufacturing jobs.

In 1992, Buchanan was called a xenophobic jerk, Quayle a traditionalist idiot and Perot a hyper Chicken Little.

Who was right? Who is in charge?

5 comments:

Anonymous said...

Damn, right on!
-A few years later, the draft dodger who got elected was lucky enough to inherit the internet economy and everyone assumed the boom was related to his policy decisions.

-Was the only president to send the trips to war after is was voted against in Congress

-Put his wife in charge of coming up with a national healthcare scheme , and she ruined the military system of champus replacing it with the abortion that is tricare.

-Didn't know what to do with the ME, so had our planes patrolling a no fly zone and sitting in tent city Saudi endlessly until we were attacked right after he left office.

Anonymous said...

I don't think the internet was economically really that big a deal in the 90s. The internet has had way more impact in the last ten years.

In the 90s the big driver was the spread of ERP, database, and spreadsheet technology. It was stuff that could run on handfuls of machines regardless of internet connections. Efficiencies got wrung out of business processes all over the place through the application of management science and advanced logistics where previously it was not possible.

Son of Brock Landers said...

I didnt mention the Internet, but I agree it didnt have as big of an effect as since 2000. Your points are valid on the manu-applications of tech and supply chain management. The "Toyota" suppy system was slowly put in place in America thru the '80-'90s.

Anonymous said...

At the peak of the dot-com bubble was 1999.

It was said that a new millionaire was created every 60 seconds in Silicon Valley.

Charlene said...

Fantastic!