The Gilded and the Progressive also used the horrible patent medicines that shortened the lives of people who could not have even used them. After the Pure Food and Drug Act of 1906, concoctions best described as cocktails of alcohol and opiates vanished from the market. If one had an inexplicable pain in the abdomen one had to see a physician instead of self-medicating. People started getting medical treatments that worked instead of getting patent medicines that did nothing more than numb the pain until one ended up dead from a treatable medical condition.
...I saw Obama as a new FDR except for being just past the Idealist/Reactive divide. I saw plenty of Reactive traits in FDR -- pragmatism, being a good game player, not being a fanatical believer in anything, no self-righteousness, and being somewhat secretive and sneaky. I still see those traits. I saw the Panic of 2008 analogous in many ways to that of the Panic of 1929.
The first sequiannum of the meltdown beginning with the Great Stock Market Crash of 1929 is hard to tell from the first sesquiannum following the decline from the autumn of 2007. After a year and a half the damage to securities values is almost identical.
![[Image: 4-bad-bears-tr.gif]](http://www.advisorperspectives.com/dshort/charts/markets/TotalReturn/4-bad-bears-tr.gif)
At a year and a half in the spring of 1931 the economy still continued to decline. After a year and a half the recovery is decisive enough that after eight and a half years one would have to lose nearly a third of its value to be back to the 2007 peak.
Maybe the difference is that the Obama recovery happened about a year and a half before an economic decline that many people were comparing to the meltdown of 1929-1932. Barack Obama rescued the financial system at the corresponding time when Herbert Hoover dithered about doing so. FDR rescued the banking system when it was largely wrecked. Obama ended up rescuing the economic interests which would stab the Democratic Party in the back in 2010 and 2014.
Three possible explanations: we are still 3T, we are possibly in a 4T with the equivalent of the Business Coup having happened, or we are in a strange time with both 3T and 4T characteristics that T4T theory cannot explain.
...I saw Obama as a new FDR except for being just past the Idealist/Reactive divide. I saw plenty of Reactive traits in FDR -- pragmatism, being a good game player, not being a fanatical believer in anything, no self-righteousness, and being somewhat secretive and sneaky. I still see those traits. I saw the Panic of 2008 analogous in many ways to that of the Panic of 1929.
The first sequiannum of the meltdown beginning with the Great Stock Market Crash of 1929 is hard to tell from the first sesquiannum following the decline from the autumn of 2007. After a year and a half the damage to securities values is almost identical.
At a year and a half in the spring of 1931 the economy still continued to decline. After a year and a half the recovery is decisive enough that after eight and a half years one would have to lose nearly a third of its value to be back to the 2007 peak.
Maybe the difference is that the Obama recovery happened about a year and a half before an economic decline that many people were comparing to the meltdown of 1929-1932. Barack Obama rescued the financial system at the corresponding time when Herbert Hoover dithered about doing so. FDR rescued the banking system when it was largely wrecked. Obama ended up rescuing the economic interests which would stab the Democratic Party in the back in 2010 and 2014.
Three possible explanations: we are still 3T, we are possibly in a 4T with the equivalent of the Business Coup having happened, or we are in a strange time with both 3T and 4T characteristics that T4T theory cannot explain.
The ideal subject of totalitarian rule is not the convinced Nazi or the dedicated Communist but instead the people for whom the distinction between fact and fiction, true and false, no longer exists -- Hannah Arendt.