If History Repeats Itself, the 2020s Will Be a Great Decade

The 1920s, 50s and 90s; what do these three decades have in common? They were all periods of prosperity in the U.S. that came after a major global downfall. Can we throw 2020 in there too?

With the events that have unfolded from COVID-19, and the world coming to a halt, it seems like life will never be normal. But in time, life will go back to “normal,” even if it is a new normal.

In “recent” history there have been several examples of crises affecting most of the world. And COVID-19 is no different. But in those instances of crisis, prosperity followed, especially for the U.S.

Take a deep breath, if history repeats itself, everything will be alright.

The 1920s: Pandemic, Great Depression And War

Everyone knows of the Roaring Twenties. Heck, I even wrote about it. The 1920s were filled with glitter and extravagance. The turmoil before this prosperity was two-fold though.

Many hoped WWI would be the war to end all wars. That is how devastating and involved it was compared to wars past. Unfortunately, that was not true.

But this was a war unlike anything before it. About 7 million were maimed for life, 11 percent of France’s population was killed or wounded, and nearly 40 million died. The most surprising fact is that half the deaths were military and the other half were civilians. So many countries were active in this war and it hurt many families.

As if that war wasn’t bad enough for people of that era — there was a pandemic. The flu pandemic in 1918 makes COVID-19 look minuscule by comparison. The 1918 pandemic, sometimes known as the Spanish Flu, was extremely deadly. The CDC estimated that 500 million people, about one-third of the population, were infected with this virus. The number of deaths was estimated at 50 million.

Think of your average school class size (about 30 students). For every 30, ten got this flu, and of those ten, one would not survive. Now imagine this in every class around the world. Going from a world war to a lethal pandemic is what historians would consider a rough few years.

The 1950s: Genocide And More War

Wouldn’t you know, a generation after the war to end all wars, we have another one. WWII is probably the most infamous war of all time. Six years of fighting, 45-60 million deaths, and countries left in shambles. There was also an attempt from both Axis Powers for wide-spread extermination.

Heavy losses were suffered on all sides. Despite this, the U.S. was one of the countries whose economy flourished post-WWII. The American middle class had more wealth than ever before and were helping the economy by spending said wealth.

Government spending was also a big factor during this time. Countless highways and schools were built during this decade. New technologies and government contracts helped American based companies grow as well.

1990s: Nuclear War!

Two world powers rose after WWII, the US and the Soviet Union. Both sought more influence than the other and in doing so, had a 40-year standoff known as the Cold War. The US and the Soviet Union both believed their systems were the correct way of governing. It was either the Western system of capitalism or the Marxist ideology of Socialism based in the Soviet Union.

The Cold War, however, is noteworthy for its lack of fighting. But people were always nervous for the nightmarish reality of an all-out atomic war.

A notable symbol of the period was the Berlin Wall. It separated East and West Germany and represented the dichotomy between US capitalism and Russian socialism. The Berlin Wall came down in 1989, symbolizing the end of the war. The Soviet Union would fall just two years later.

With the Cold War over, the 90s catapulted the US into a decade of prosperity. While the 90s started off slow, the economy kicked back up in the latter half of the decade.

Unlike previous decades, the 90s had low inflation. The decade also had rising productivity and a growing stock market. The 90s into the early 2000s was the longest economic expansion in US history, until 2019.

Final Thoughts

There’s always going to be global issues. And hopefully once the struggle is over, better times follow. This has been the case for many examples throughout history.

So yeah, times are tough now, but never forget the future is always brighter.

And don’t forget to wear your masks too!