The Roaring 20’s. America was a great place to live. Money was flowing, cars were being built for the first time en masse, creating antecedent industries like hotels and motels, restaurants along highways, highways that sprawled from coast to coast, all of it creating America’s first real middle class. World War 1 had ended, America was the victor and we had so much money we loaned it to Europeans to help them build up their countries after the war. Jazz and movies exploded on the streets and in major cities across the great land. Silent movies had replaced Vaudeville, and talkies were on the horizon. It was also the golden age of radio, television had not just been invented. Then there was flight. More airplanes, more distance records and another industry was booming.
In retrospect, the 1920’s were probably the most prosperous of any American decade, possibly outperformed by the 1950’s, again, right after another great war had given America another victory. The times weren’t perfect, but people felt confident and confidence is always a precursor to success.
And this is why we should enjoy these last few months before the 2020 elections. Since Donald Trump was elected, confidence has returned, jobs have come back, less regulation has spurred new business investment, small business investment has never been higher, taxes are lower for most, and there is real optimism, despite the congressional distraction of democrats who hate Trump for showing us a non-politician can actually be president.
It doesn’t matter of Trump gets re-elected. In fact, I would argue that there will be no peace in America if Trump gets re-elected. There will probably be blood on the streets. The machinations of the world media will ensure that outcome because 1) if it bleeds it leads, and 2) 95% of the media hates Trump so all hatred will be amplified to a fever pitch. The natives will get restless.
Confidence is the key, and when confidence wains, look for a run on the stocks and what lttle cash there actually is in the banks. 90% of all transactions are conducted with credit, the notion that you have credit to use, but if you try to cash out, there simply isn’t enough cash and this will, as it did in 1929, cause panic. Insecurity in the community almost always drives panic, and since the media will be complicit in fanning the flames of that panic (especially if it makes Trump look bad), we can expect the “good times” to end, and there will be a lack of confidence spreading like a flu epidemic..
I won’t say what, but with so much vitriol against President Trump, if he loses, there will be anger. If he wins there will also be anger.
Franklin Roosevelt, despite many of his socialist policies was well-liked. He calmed fears and it help stem the depression’s effects until American could find its equilibrium (and World War 2 helped because it revived industry and put people back to work, including women).
But Trump can’t play that card. He isn’t likable. Even his supporters admit they love many of his policies, but find it hard to like the person.
I believe history will be kind to Trump. Historians of the future will marvel at his ability to do so much in such a little bit of time. All of this is a matter of record, not opinion.
If Trump loses, there will be a reversal to the policies that have made our government weak. Biden, Sanders or Warren will undue prosperity, because these people believe in the socialist version of ‘no child left behind.’ Their philosophy: We all need to suffer a little more to feel better about having so many poor people. That’s the message of the Democratic Left. Taxes will go up, regulations will increase and you can bet we will go back to where Obama believed we should have stayed. After all, they say, America was never great – and never will be again if the Left gets its way.
If Trump wins, there will be riots and fires and martial law and destruction. It doesn’t bode well for confidence. and without confidence, the economy will crash. So my advice: enjoy the good times while they last, because they never do, and the reckoning is coming, as it always does.
Maybe that’s why people are holding on to their cash. They can sense in their gut there is an approaching storm, just like the one that ended the Roaring 20’s.
James Watkins is a social commentator, author and host of the weekly podcast Speaking Out