Looking back to 1990

We look forward not back 

Does your accountant seem obsessed with last year? If you want to legally pay less in taxes, you need a professional who looks forward. Relax Tax helps our clients focus on planning for a better future, and not the past. If we want to look back at anything, we thought it might be fun let our blog look back at what we learned in the last 50 plus years. You can get a FREE COPY of the entire guide at back.relaxtax.com. Now lets take a look at 1990.   

1990 Big News Story

Gulf War started

The first recession in nearly a decade began in July of 1990, resulting in a modest $2,900 gain in the average home price in the U.S., to $98,263 ($195,012). Operation Desert Shield began as an attempt to protect Kuwait after the invasion of Iraq. The Hubble Space Telescope was launched aboard the Space Shuttle Discovery, going on to provide countless scientific advances and incredible astronomical photos. And in February, Nelson Mandela was freed after 27 years of imprisonment.

Per Defense.gov 

On Aug. 2, 1990, Saddam Hussein led a well-equipped Iraqi army into Kuwait, a major supplier of oil to the United States.

The U.S. had supplied Iraq with military aid during its eight-year war with Iran, giving Iraq the fourth-largest army in the world at that time. This posed a threat to Saudi Arabia, another major exporter of oil. If Saudi Arabia fell, Iraq would control one-fifth of the world’s oil supply. The Iraqi leader also was repeatedly violating United Nations resolutions, so the U.S. had U.N. support in responding to Iraq’s invasion of Kuwait.

See full timeline. 

1990 by the Numbers

 

Economic Data from 1990

Grocery Prices from 1990

Personally, I have been blessed to have great people in my life. My roommate for all 4 years was one of these great people. He helped to make 1990 extremely memorable, by inviting me to goin his family in Pittsburgh and Cincinnati for the NLCS Championship. I should probably mention that his dad was the manager of he Cincinnati Reds at the time. So yes I was in the locker room and went out drinking with the "Nasty Boys", hung with Charlie Sheen, sat with Marge Schott and had to help get her out of Pittsburgh. Best of all was being in the locker before and after the cameras left with Sweet Lou's Reds prior to them sweeping the A's in 1990. These are the kind of things that you don't forget. 

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