We’ve arrived in 1990. Start of a new decade. But there’s a
sense of foreboding growing in the economy, corporations are beginning to see
growth slowing and on the political front pressures in the Middle East are rising.
All of this will work together to initiate, in the United States, a brief
recession, one that perhaps leaves a more enduring stamp on the travel industry—especially
airlines, which will struggle to regain profits for at least five years and, as
a result, will see a number of mergers and acquisitions in the first half of
the decade.
At the movies, however, we are shrugging off the uncertainty
with feel-good fare like Pretty Woman or getting moody with epics like Dances
with Wolves, which won the Oscar that year….