Were the 1990's the peak of Western Civilization?

[angus]

Heavens no!  There was ethnic violence in Bosnia, Macedonia, Albania, Kosovo.  Genocide in Rwanda.  Americans killing Americans in Oklahoma City.  Africans killing Africans in the congo basin.  American soldiers being dragged through the streets of Mogadishu.  Housing prices and university tuition rates were rising faster than inflation.  dot-com IPOs were trading at 400% of their true worth, creating an unsustainable bubble.  Building contractors from Dublin, Ireland to Dublin, California, and everywhere in-between were getting sweetheart deals from municipal governments to construct housing that even today remains vacant.  Grunge music, with its teenage angst and dissonant chords was deafening a generation of children.  It was a time of corruption, greed, speculation, and rampant killing all over the West.  If anything, it was a time when Eastern civilization was on the ascendancy, with China gaining Most Favorable Nation trading status with the US in a trade partnership that put China at a distinct advantage.  The Thai Baht and many other currencies were rising against western currencies.  

And, lest we forget, there was Milli Vanilli, the Best New Artist of 1990.  

If the 90s were the peak of Western civilization, I shudder to even think of its valley.

[angus]

...Building contractors from Dublin, Ireland to Dublin, California, and everywhere in-between were getting sweetheart deals from municipal governments to construct housing that even today remains vacant.

What the heck?  The overbuilding had nothing whatever to do with municipal governments, angus.  It is just the normal cycle of under-regulated markets - boom and bust.  Its capitalism, thought you liked it.

Sure, it was driven by increased disposable income and realty speculation.  But had to do with planning policy as well.  Or lack thereof.  Failure to provide incentives for high-density growth near public transit points as well as tax breaks for contractors urge detached-housing construction booms.  Also, valuations are done by private firms for governments in order to determine taxes based upon pre-set rates.  So houses get over-valued, and entire neighborhoods go empty in bust years. 

I'm not for completely unregulated capitalism.