Word: 1930s
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Still, it is likely to be a while before we hit that new normal. Rosenberg points out that during the Great Depression, the worst of GDP contraction and stock-market losses had hit by the early 1930s. And yet the malaise carried on for the rest of the decade. Unemployment hung above 15%, and people didn't spend money. "Even people who had the means didn't go on buying sprees. That's not how they lived," says Rosenberg. We may now be in for some of the same...
...Bauhaus buildings in Tel Aviv - all 4,000 of them - are easy to spot. Built from the 1930s to the 1950s, they are curvilinear and sleek like the first-class decks of ocean liners. It's as if a fleet of dazzling white ships had sailed in from the Mediterranean and kept right on going before dropping anchor along Tel Aviv's leafy boulevards...
...strolling around its Bauhaus-style landmarks, stopping off at a few sidewalk cafés and restaurants along the way. Tel Aviv's Bauhaus buildings open the door to the mind-set of the early Zionists who went on to create the Jewish nation in 1948. They are elegant 1930s socialism writ in concrete. Many Israelis quip that the dwellings have survived in better shape than the ideals of the nation's founders. (See TIME's Global Adviser for exotic, beautiful and interesting getaways...
When waves of Jewish immigrants arrived in the 1930s, escaping the rise of Nazism and persecution in Europe, Tel Aviv had to expand to accommodate them. Back then, it was the ancient Arab port of Jaffa, with a few Jewish settlements trying to take root in the nearby swamps and sand dunes. Most of the arriving immigrants were young, poor but fairly well educated and idealistic, and Tel Aviv's city planners sought an egalitarian architectural style in sync with the socialistic winds sweeping through Europe. They turned to Bauhaus. Founded in Weimar in 1919, the International or Bauhaus style...
...renovated mansion from the earlier 1920s Eclectic period, festooned with a mishmash of European, Ottoman and Arab architectural motifs - from bijou Juliet balconies and an intricate filigreed façade to soaring Levantine arches and domes. Owners Mati and Ruthie Broudo have kept the rooms period-appropriate using antique 1930s furniture, including original pieces by German Bauhaus design firm Thonet. (See Time.com/Travel for city guides, stories and advice...