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Four Score And Seven Years Ago (1929 and 2016)

Updated on December 9, 2016

Spacing

Keeping us going,

it's not a simple task now.

We learn from the past.

Looking back and ahead:

President Abraham Lincoln in1863 referred to America's birth in 1776 with the phrase "Four score and seven years ago..." President-elect Donald J. Trump in 2016 could similarly refer to The Great Depression of 1929 using Lincoln's phrase of "Four score and seven years ago".

George Washington in 1776 was getting America started, Lincoln's and Trump's tasks? Keep us going.

Christmas gifts and New Year's resolutions suggest we count our blessings and pray.

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Four Score And Seven Years Ago


Four score and seven years ago it was 1929 and things were looking rosy at the start of the year, and for the next nine to ten months.

We had helped win “the war to end all wars” and things had “looked” rosy until the first week in September when stock prices in the USA began to seem overpriced and unstable.

On October 29, 1929 called “Black Tuesday,” the instability turned into a massive fall in stock prices. “The Great Depression” that started in America spread around the world.

Life still went on, but America’s unemployment grew until it eventually reached 25 percent, and in other countries it was even higher by as much as a third.

What else made the news in 1929?

A Nobel Prize was awarded for the discovery of vitamins! The game of bingo was created. America’s first nudist organization was formalized in New York City. A Dallas insurance company began offering something new: a group hospital insurance coverage, and a later leader of Indonesia, Sukarno, was arrested by Dutch authorities there.

Cole Porter, Einstein, and Edison were celebrities, and hard times sent many Americans “back to the farm” to live out the depression where they could better feed themselves and their families.

Those with liquid assets in 1929 thrived. Those living day-to-day and paycheck-to-paycheck suffered greatly when so many jobs and paychecks disappeared.

American exports slumped almost in half, and business profits slumped. During the depression, government revenues slumped as well at the very time the demands on local, state, and federal resources increased.

The national debt at the onset of the depression (even after national expenditures in World War I) was only $16.9 billion.

By the end of the depression in 1935, it was $29 billion, and topped out at the end of World War II nearing $258 billion.

Not until the end of Kennedy’s presidency did it reach $306 billion.

Now it is not billions, but it has grown to nearly $20 trillion and is still growing.

Let's take a look at the USA's National Debt about two weeks before Christmas 2016. It was $19.935 Trillion. Let's take a look at what each average American citizen, man. woman, and child owed personally: $55,205. And, just for hilarity (?), let's look at what the USA owed in interest on the National Debt in each minute of that early December: $48,000. There being 24 hours in a day and 60 minutes in each hour, that worked out to be $69,120,000 each day. The personal, average debt for every American citizen did not include each citizen's share of the National Debt! That amount per citizen was $61,325, making each average citizen's total debt $116,530. And that indebtedness was growing as 2016 holiday spending on credit cards and existing interest continued to raise that total. For those aware of these figures, it didn't seem much like "Happy Holidays," or a truly merry Christmas!

There are lessons to be learned from “good times” that can suddenly turn into “hard times,” and it could just be that only America’s “oldest of the old” and their peers around the world can still recall what they and their parents learned.

Today most average American workers live day-to-day and paycheck-to-paycheck.

Those few who have sufficient, durable, liquid assets (barring a nuclear war) would do very well in a massive, second depression.

But most Americans would find it difficult, if not impossible, to go “back to the farm” and live out a 1929-style depression.

The relatively tame 2008 economic recession was still severe enough that it wiped out many middle class Americans’ retirement savings and liquid assets.

Great hopes were held by the many Americans who voted for Republican governors, congressional representatives, senators, and President-elect Trump in Election 2016, while American skeptics continued to predict doom and gloom.

Seeking to “Make America Great Again” while working from a base of the massive National Debt that had grown from $10 trillion to nearly $20 trillion in just the previous eight years, seemed to require nothing short of magic, or significant national sacrifice, if the slogan was to be achieved.

Meanwhile there was a very good chance that the fiscal seeds that had been sown would yield a harvest of hardship - - - regardless of which 2016 candidates were the declared winners those four score and seven years after the previous Great Depression.

____________

© 2016 Demas W. Jasper All rights reserved.



Let's all smell the roses, even if not everything turns out the way we might wish. God's creations will endure, may mankind be one of them.

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    • Perspycacious profile imageAUTHOR

      Demas W Jasper 

      19 months ago from Today's America and The World Beyond

      Avoid the errors of the past (including banks too big to fail...and we still have them) and build on past successes (when we used times of peace to pay down our nation's debts, if even a little.)

      Thanks again for taking your time to comment.

    • MsDora profile image

      Dora Weithers 

      19 months ago from The Caribbean

      Thanks for the historical retrospection. Present leaders and citizens have to learn from our depressing state, and also learn to live selflessly if we desire economic improvement. Good presentation!

    • Perspycacious profile imageAUTHOR

      Demas W Jasper 

      19 months ago from Today's America and The World Beyond

      Clarifying revisions are done now.

    • Jodah profile image

      John Hansen 

      19 months ago from Queensland Australia

      Thank you for that explanation, Demas.

    • Perspycacious profile imageAUTHOR

      Demas W Jasper 

      19 months ago from Today's America and The World Beyond

      Jodah - 1776 +87 = 1863, 1863 + 66 = 1929, 1929 + 87 = 2016.

      Admittedly it took 153 years from Lincoln's Address to get to 2016.

      But now President-elect Trump can refer to 1929 (as Lincoln referred to 1776) by using Lincoln's phrase to refer to The Great Depression of 1929 as "Four score and seven years ago... ."

      I am back to the keyboard making the needed corrections you so politely directed my attention to.

    • Jodah profile image

      John Hansen 

      19 months ago from Queensland Australia

      This was a very interesting history lesson, Demas. Just one question. How were Washington, Lincoln and Trump equally spaced in US history?

    • Perspycacious profile imageAUTHOR

      Demas W Jasper 

      19 months ago from Today's America and The World Beyond

      Ericdierker - My mother had a hospital job at the onset of the depression, and she encouraged my father to go back to school for his masters degree. He got a teaching assistant post to help with his expenses then and was never unemployed after the depression until he retired. (My mother never had to work again after he earned his masters degree.)

    • Ericdierker profile image

      Eric Dierker 

      19 months ago from Spring Valley, CA. U.S.A.

      Very interesting and great food for thought. Makes me think of my dad during that time.

    • Perspycacious profile imageAUTHOR

      Demas W Jasper 

      19 months ago from Today's America and The World Beyond

      lambservant - Learning it from someone else's experience is far better than having to learn it from our own....and we might just have to.

      How is your 1 Year Supply of essentials coming along?

    • lambservant profile image

      Lori Colbo 

      19 months ago from Pacific Northwest

      What a cool hub. Love learning history and trivia.

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