American History

One major similarity between the 1920s and the 1980s was the turmoil coming out from the previous decade. People living in the 1920s came out of World War I (1914-1918) and while those in the Eighties were coming out of Watergate (1974), a nationwide gas shortage (several years) and the Iran Hostage Crisis (1979). People wondered what the next ten years would bring.
    Having ideological troubles abroad continued through both decades. During the 1920s, Germany and its allies were defeated but not broken. It would take another decade before the Germans would pose a bigger threat, but nobody rigorously oversaw the country after the peace treaty from the First World War was signed.
President Ronald Reagan had related problems with the Soviet Union decades later. Both sides demonstrated their nuclear abilities to the other during the 80s. Reagan bankrupted his nemesis by outspending the Soviet Union in building weapons. When the Soviet government realized it could not keep pace, they brokered peace.
Another point between these decades was scandals. The Savings and Loan controversy of the late 1980s led to the downfall of several banks, the life savings of its investors, and the arrests of many executives. Purchases were status symbols and proof of ones worthand that led to false security.
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    Just like the 1980s, people in the 1920s spent without consequence. Scandal in businesses led to a fake hopeand a massive punishment for the country. People like Joseph Kennedy, Al Capone and J.P. Morgan made huge profits for themselves by deceiving its shareholders and customers. While it was not against the law at the time, it was considered poor business practice.
    The result of these businessmen doing an end-around the rules led to the collapse of the American economy at the end of both decades. The Great Depression lasted for several years with the lasting images of long bread lines and longer lines for jobs. Hebert Hoover, who was elected president in 1928 as the economy was turning sour, was replaced after one term by Franklin Delano Roosevelt in 1932.
Another similarity George H.W. Bush was replaced by Bill Clinton after one term in 1992. Bush was famous for his, Read my lips no new taxes pledge that he reneged on, but he also oversaw the economy go into a freefall once Regan left office. The economy went into recession, unemployment soared and people who purchased everything in the 1980s either sold it back at reduced prices or gave them up altogether.
Not only were the outgoing presidents gone after four years, but Hoover and Bush were also Republicans. They believed that businesses should attempt to make as much moneyprofit as they could with little or no regulation from the government. Both men failed because the companies got rich off the backs of everyone else. When the bubble burst, everyone had to bear the burden of putting the countryand the economy in particularback together. (Pohnpei)
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One other lighter note was the issue of dating. People looked at the way the opposite sex viewed each other differently. In the 1920s, there were group dancing parties and the opportunity to meet people and see who might be available. The invention of the automobile made it easier for two people to get to know each other more intimately.
Decades later, it would be considered to be less of a challenge meeting someone. There were not a set of rules andor chaperones present to set up guidelines and ensure that they were followed by both parties. Because of the presence of contraception, it make the possibility of pre-marital sex likely than in decades past. That is not saying it was encouraged or condoned, just more of an option. (1999)
For the most part, the 1980s and 1920s saw good years in the beginning of the respective decades that turned nightmarish as the years ended. Prosperity and a sense of good would eventually turn into a bubble-bursting reality check for everyone.
Right now, the country is going through a recession after the housing market crashed and Wall Street saw executives accept large bonus checks while their employees were left without a pension, retirement or even a job. How the economy bounces back will determine whether the 2000s will be remembered as the two decades in question are.