Nov 3
Bill Clinton Elected President
Arkansas Governor Bill Clinton defeated George H.W. Bush with 43% of the vote in a three-way race with Ross Perot. 'It's the economy, stupid' was the winning strategy. The Baby Boomers were in charge.
🇺🇸United States · 90s
It's the Economy, Stupid
Clinton defeats Bush, LA erupts after Rodney King, and the Mall of America opens.
What happened
5 milestones of 1992
Apr 29 - May 4
LA Riots
The acquittal of four LAPD officers who beat Rodney King sparked six days of violence in Los Angeles. 63 people died, 2,000+ injured, $1 billion in damage. 'Can we all get along?' King asked.
civil unrest
Aug 24
Hurricane Andrew
Hurricane Andrew devastated South Florida as a Category 5 hurricane, causing $27 billion in damage. 65 people died. It exposed flaws in disaster preparedness and building codes.
Jul-Aug
Dream Team Dominates Barcelona Olympics
The US basketball Dream Team — Jordan, Magic, Bird, and more — won gold in Barcelona by an average of 44 points. The greatest sports team ever assembled.
Aug 11
Mall of America Opens
The Mall of America opened in Bloomington, Minnesota — the largest mall in the US with 520 stores and an indoor amusement park. The peak of American retail culture.
What was playing
70% local · 30% international
What was in cinemas
Aladdin
Ron Clements & John Musker — Robin Williams as the Genie. Disney Renaissance at its peak.
Unforgiven
Clint Eastwood — Eastwood's final Western. Won Best Picture. The genre's elegy.
Reservoir Dogs
Quentin Tarantino — Tarantino's debut. Non-linear storytelling and an ear-cutting scene that changed indie cinema.
A Few Good Men
Rob Reiner — 'You can't handle the truth!' Cruise vs. Nicholson. Courtroom perfection.
Wayne's World
Penelope Spheeris — 'Excellent!' Mike Myers and Dana Carvey. SNL's greatest movie spinoff.
What was on TV
The Real World
1992-present — MTV put strangers in a house. Reality TV was born.
Seinfeld
1989-1998 — The show about nothing hit its stride. George, Elaine, Kramer — a comedy of selfishness.
Batman: The Animated Series
1992-1995 — The definitive Batman outside of comics. Dark, stylish, and brilliant.
The Tonight Show with Jay Leno
1992-2014 — Leno replaced Carson. The late-night era changed.
Murphy Brown
1988-1998 — VP Dan Quayle criticized Murphy's single motherhood — and lost the debate.
How much things cost
Currency: USD
Gallon of milk$2.78
Gallon of gas$1.13
New house (median)$121,500
New car (average)$13,500
Loaf of bread$0.70
Movie ticket$4.15
Inflation: 3.0%
A mild recession ended Bush's presidency. Unemployment hit 7.5%. The economy was the issue.
Then vs. Now
Inflation-adjusted values
Gallon of milkBLS
1992 (USD)
$2.78
→
Today's value ($)
--
Gallon of gasEIA
1992 (USD)
$1.13
→
Today's value ($)
--
New house (median)Census Bureau
1992 (USD)
$121,500
→
Today's value ($)
--
New car (average)BLS
1992 (USD)
$13,500
→
Today's value ($)
--
Loaf of breadBLS
1992 (USD)
$0.70
→
Today's value ($)
--
Movie ticketNATO
1992 (USD)
$4.15
→
Today's value ($)
--
Technology
Text message (SMS)
The first text message was sent: 'Merry Christmas.' Texting would take a decade to catch on.
Windows 3.1
Microsoft released Windows 3.1, selling 3 million copies in its first two months.
World Wide Web goes public
CERN made the World Wide Web available to the public. The internet as we know it began.
Smartphone concept (IBM Simon)
IBM demonstrated the Simon — the first smartphone with a touchscreen.
Nicotine patch
The first nicotine patch was approved. Quitting smoking got a technological assist.
Pop Culture
Fashion
Grunge flannel and ripped jeansDoc Martens bootsBackwards baseball caps
Slang
Whatever— I don't care (dismissive)
Phat— Cool, attractive
Talk to the hand— I'm not listening
Behavior
- Grunge killed the hair metal era overnight
- The LA riots forced a national conversation about race and policing
- The Real World invented reality television
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