GenX Turns Fifty

Late Nineties. Boy Bands. Girl Bands.

It was “The Long Boom” and everyone thought it was up and to the right. It was the best of times, until it wasn’t.

https://www.thestreet.com/dictionary/dot-com-bubble-and-burst

Pets.com was the harbinger of doom. Looking back on the dot com bust, we now enjoy a full suite of e-commerce companies such as Amazon, InstaCart, DoorDash. Too much, too soon? Probably. Took two more decades for smart phones, mobile internet connections and high-speed broadband internet to arrive.

Bill Clinton’s administration ends with scandal and faltering economic woes. A few Florida ballot “hanging chads” later, George W. Bush wins the Presidency in 2000 against VP Al Gore.

W. had many plans to turn the US economy around and then on September 11th, 2001, all of those plans instantly changed.

https://www.history.com/articles/9-11-attacks.

The US loses nearly 3,000 in four separate attacks on the Twin Towers, The Pentagon and a fourth aircraft crashing into a Pennsylvania field as the passengers fought back against the terrorist hijackers.

Britannica does a pretty fair job describing the Global War on Terrorism.

https://www.britannica.com/topic/war-on-terrorism.

Operation Enduring Freedom (OEF) began in 2001 and the first stage continued through 2014 hunting al-Qaeda, the Taliban and Osama Bin Laden.

Operation Iraqi Freedom (OIF) 2003-2011 the United States and allies toppled Saddam Hussain’s regime causing an eventual power vacuum in Iraq which was filled with Shia and Sunni civil war and insurgents from the Islamic State in Iraq. In 2007, the US deployed 170,000 troops as a “surge” which began rolling back in 2008 as President Bush began a withdrawal from the Iraq War.

Back at home , the push to grow the US economy through real estate and mortgage backed securities sets off a Global Financial Crisis.

https://en.wikipedia.org/wiki/2008_financial_crisis?wprov=sfti1

Barack Obama is elected to the US Presidency in 2008 and completes the Iraq War withdrawal in 2011.

He also oversees the American Recovery and Reinvestment Act

https://en.wikipedia.org/wiki/American_Recovery_and_Reinvestment_Act_of_2009?wprov=sfti1

Some believe this is the genesis of the current Crisis phase of our 4th Generational Turning. Quantitative Easing and the “Bernanke Put”.

https://www.wallstreetmojo.com/bernanke-put/

We begin going into uncharted economic times.

The modern smartphone (iPhone) is born by Apple and Steve Jobs now moving music and video to individuals without a dedicated computer and internet connection. Facebook emerges in 2005 with Twitter following close behind in 2007 bringing social media to the masses.

YouTube is born (2005) and purchased by Google in 2006.

These times are still unfolding. Buckle up and Hold On.

Next: 2013 to Present (Crisis: The Cultural Divide)