By Euan Wilson, originally
published in the Aug. 2010 Socionomist
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the Complete Issue (2.15 MB)
When Ted Turner pitched the idea for an all-cartoon network
to investors in 1991, he made one key point: People love cartoons. In
fact, Turner showed, all kinds of people love them, with nearly
half the cartoon viewers not kids but their parents.1
The assertion piqued our curiosity: With cartoons embraced
by such a broad swath of society, might social mood drive the sort of
cartoons that studios produce and viewers watch?
Bull- vs Bear-Market Cartoons
We found that cartoon styles shift dramatically with social
mood. Positive-mood cartoons are fun and wacky, for example. Negative-mood
cartoons, on the other hand, are usually tragic or surreal. Bull-market
animation is safe for the family. But many bear-market cartoons contain
themes of sexuality, drugs and even racism.
Figure 1 summarizes the key differences. See how many of
the characteristics you can spot as we review the most popular cartoons
of the past 90 years.

Figure 1
Cycle Wave V of Supercycle (III): The First Animated
Stars
Felix the Cat and Mickey Mouse
The 1920s launched the age of plot and characterization
for cartoons. Most historians consider Felix the Cat, the decade’s most
popular cartoon star, to be the first cartoon character with a distinct
personality. Cartoon critic Maurice Horn calls him “the high water mark
of silent animation.”2 Felix is creative, adventurous, fun-loving,
hard-working and intelligent—a bull-market hero all the way. In the 1926
classic, Two-Lip Time, Felix courts a Dutch girl. Rather than fight
a rival suitor, Felix inflates the man’s pants with a tire pump and watches
him float away into the clouds. It was an apt metaphor for both markets
and cat; success came easily and Felix’s popularity soared through the
decade.

The Right Hero at the Right Time: Felix the Cat (1925)
Figure 2
As reflected by the stock market, social mood climbed to
extreme heights by the end of the 1920s. This climate set the stage for
Felix’s impish new rival, Mickey Mouse. Viewers today hardly recognize
Walt Disney’s early incarnation. In Steamboat Willie (1928), Mickey
is a prank-playing river hand who throttles a cat that looks quite like
Felix (Figure 3). Ebullient audiences loved the carefree, rascally mouse.

A Mouse Transformed: Pre-1929 Mickey gets into mischief;
post-1932 Mickey accepts his destiny as hero.
Figure 3
Supercycle Wave (IV) Down: Sex, Drugs and Menace in
the early 1930s
Mickey’s New Direction; Felix’s Demise
Mischievous Mickey’s run screeched to a halt with the social
mood crash of 1929-1932. Suddenly, Mickey was out of step with the times,
and audiences let Disney know it. In 1931, Terry Ramsaye of Motion Picture
Herald wrote:
Papas and mamas, especially mamas, have spoken vigorously
… about [the] devilish, naughty little mouse. … Mickey has been spanked.3
In response, Disney morphed the mouse dramatically. The
1933 post-crash short The Mad Doctor was released in the depths
of depression. It left all frivolity behind. The story opens with wind,
thunder, a dark stranger and Pluto’s abduction. A doctor plans a gruesome
experiment: He aims to replace Pluto’s body with a chicken’s to see whether
the new creature will “bark, crow or cackle.” Mickey dodges traps and
undead skeletons until the doctor’s snares finally catch him. In the climax,
Mickey eludes a buzz saw, only to wake up in bed and realize that the
whole ordeal was a nightmare.
The post-crash plot is a major departure from Mickey’s
pre-crash adventures. Nowhere does Mickey cause mischief. The antics and
songs are gone, while the doctor’s menace and his castle are frighteningly
real.
With the subsequent rally in mood in the mid 1930s, Mickey
received yet another role: that of the heroic leading man. The transformation
mirrored America’s shift toward optimism, and it is this triumphant Mickey
who endures today.

Figure 4
Meanwhile Mickey’s predecessor, Felix, failed to adapt to
the negative mood of the 1930s. Despite the breakthrough of sound, the
cat clung even to his muteness. His audience grew similarly silent, and
his popularity plummeted. Four times since, producers have tried to revive
Felix—in 1936, 1958, 1991 and 1995, always in bull markets. The most successful
was Felix’s run in the 1950s during Cycle Wave III up, when he starred
in 260 new shorts and regained much of his former purr. Each revival,
though, faded when social mood again turned down. Hollywood plans a Felix
movie in 2012. But the release is years prior to our forecast final low
in 2014-2016. As such, Felix’s sixth life should be short.
Betty Boop, Vamp
Meanwhile, the Max Fleischer studio struggled to create
a star to rival Mickey and Felix. It finally struck gold after mood collapsed
in the early 1930s. Their star: Blatantly vampish Betty Boop. Boop routinely
dropped her skimpy top, and her skirt was forever riding up. Betty was
so risqué that one 1933 short, Boilesk, proved too much for even
bear-market tastes and was banned in Philadelphia.
Betty Boop tackled both coerced sex and drug use. In Chess-Nuts
(1932), the Black Knight nearly deflowers Betty before Bimbo the dog comes
to her rescue. In Boop-Oop-A-Doop (1932), Betty is a high wire
performer in a circus as the villainous ringmaster lusts for her from
below. After the performance, the ringmaster follows Betty to her tent,
where he caresses her legs and threatens her job if she refuses to submit—a
sore topic at the time, with a quarter of the U.S. unemployed. Koko the
clown rushes in and knocks the ringmaster unconscious with a test-your-strength
mallet. When Koko asks if Betty is ok, she answers in song, "he couldn't
take my boop-oop-a-doop away!"

Bear-Market Sex Symbol: Her torso covered
by just a lei, Betty dances a near topless hula (1933)
Figure 5
In another episode, Ha! Ha! Ha! (1934), Betty tries
to ease Koko’s toothache. She administers nitrous oxide but drops the
mask and accidentally exposes the entire town to gas. What follows is
downright trippy as townsfolk, plants, cars and bridges all collapse into
convulsive laughter.
Cycle Wave I Up: The Mid 1930s Suggest Recovery
Betty Slows Down While Popeye Takes Control
The reign of sexy, druggy cartoons was short-lived. As
social mood recovered in the mid 1930s, Betty’s creators fashioned a more
modest wardrobe, but Betty couldn’t make the transition. Her boop-oop-a-doop
fizzled.
Betty’s successor at Fleischer studios, Popeye the Sailor,
debuted in 1933. His scruffy appearance and can-do spirit mirrored the
battered but upturning mood that fueled the 1932-1937 bull market. Popeye’s
nemesis, Bluto, underwent a fascinating metamorphosis. Paramount and Fleischer
first billed him as “Bluto the Terrible! Lower than bilge scum, meaner
than Satan, and strong as an ox!”4 But as mood continued to
recover, Bluto’s personality softened from serious threat to mere rival.
Robert Prechter stated in The Wave Principle of Human Social Behavior,
that rising mood celebrates heroes in “good-guy-versus-bad-guy” conflicts;
by the time mood peaks, “Everybody’s a good guy.”5
Tough, Purposeful: Popeye confronts problems with bull-market
gusto (1933)
Figure 6
The specials Popeye the Sailor Meets Sinbad the Sailor
(1936) and Popeye Meets Ali Baba and his 40 Thieves (1937) were
prototypical bull market cartoons containing a hero’s triumph, exotic
settings and rollicking adventure. In fact, the shorts were so popular
that theatres billed them ahead of the feature films for which they opened.
Snow White and the Seven Dwarfs, released in 1937,
also took full advantage of the Cycle degree peak in mood. Triumph over
evil, hard work and adorable woodland creatures in the film all reflect
the strong positive trend. The film’s wicked witch is an ideal villain
for love to conquer, and Prince Charming is the quintessential bull market
savior. The film was a hit. Disney spent $1.4 million on Snow White.
In the film’s first theater run, he recouped it all—six times over.
Cycle Wave II Down in the Early 1940s: Racism,
War, the Fall of Man
Pinocchio and Fantasia Struggle to Find the
Era’s Theme
The Dow Jones Industrial Average plummeted 52% from 1937
to 1942, and the plunging mood also expressed itself via worldwide anger
and fear. But animation studios somehow missed the memo. Some of their
films contained dark elements, but for the most part, their themes were
just too sunny for the times.
A Censored Centaur: Sunflower, far left, Fantasia's black
centaur. Because of censoring, it is difficult to locate a color image that
contains the character. Trouble Brewing: Right, the film's
bull-market hero leaves bear market audiences unfulfilled (1940)
Figure 7
Pinocchio is a good example. The mostly upbeat film
premiered in 1940. It contains many bear themes, including imprisonment,
drinking, fighting and gambling. But the delinquency belies the film’s
overall positive theme of family love. Fantasia also premiered
in 1940 with magic, demonic gargoyles and racial stereotypes. Disney’s
hero, Mickey, abuses powerful sorcery and gets in way over his head. But
like Pinocchio, Fantasia’s overall theme—exciting visuals,
beautiful music, Mickey being mischievous—was too positive, and audiences
of the day mostly yawned, with neither film breaking even until more than
a decade later.
Peace on Earth’s Morbid Message

Anti-Man: In Peace on Earth, cuddly creatures
delight in humanity's end (1939)
Figure 8
In contrast, MGM more fully captured the negative mood with
Peace on Earth (1939). In the short, tools of war litter the world.
A grandfather squirrel describes now-extinct Man to his progeny. After
the final two living men kill one another, the squirrel and his fellow
woodland friends dance among Man’s remains. Only in an extended bear market
would a children’s cartoon suggest that utopia is born of mankind’s extinction.
Bambi Gets It Right
Just before the low in 1942, Disney finally tapped the
mood with its landmark film Bambi. Ostensibly a children’s story
about happy forest creatures, Bambi actually reveals deep
fear and misanthropy. Though never seen, Man and his menace pervade the
film. The murder of Bambi’s mother remains one of animation’s most memorable
sequences. The scene continues to traumatize children 70 years after its
release. According to boxofficemojo.com, the film made $3 million in its
first release, a remarkable feat given that occupying Germany blocked
its screening throughout most of Europe.
Coal Black and de Sebben Dwarfs
Amidst the deeply pessimistic mood, the Warner Bros. studio
produced cartoons that shock viewers today. The best example is 1943’s
Coal Black and de Sebben Dwarfs. In his 1983 book Of Mice and
Magic, critic Leonard Maltin writes:
The stereotyped characters and 1940s-style enthusiasm for
sex leave modern viewers aghast. The dialogue is strictly jive talk,
and the pulsating music bounces the action along as the evil queen calls
Murder Inc. to ‘black out So White’ and keep her from Prince Chawmin’.7
Lucky Sebben: So White and her entourage
(1943)
Figure 9
Warner Bros. drew both Prince Chawmin’ and the dwarfs with
stereotypically expanded features, and So White (named Coal Black in the
title) is a Betty-Boop-style sex symbol. Critic Steve Bailey comments
in 2003:
[The dwarfs] are little more than thick-lipped comic relief.
The racial aspect is merely a smokescreen for what this cartoon is really
about: sex. …[The Wicked Queen’s first words] are “Magic mirror on the
wall, send me a prince about six feet tall.” So White, far from Disney's
virginal image, wears a low-cut blouse and thigh-high shorts, and sends
blazes of erotic ecstasy through every male she meets.8
Cycle Wave III Up: The Postwar Prosperity of the
Mid 1940s and 1950s
As Prechter and Hall pointed out in the August 2009 Socionomist,
the first halves of big third waves do not reflect rising optimism so
much as declining pessimism.9 Thus, popular cartoons in the
early 1940s are fun, wacky works that, at the same time, celebrate residual
bear themes. Later in the rally, the cartoons become one-sidedly “bull
market.”
Wolfie and Red Celebrate Life’s Baser Pleasures
As Cycle Wave III began, bull themes returned and pessimism
resumed its retreat. MGM tapped the complex mid-1940s mood with Tex Avery’s
Wolfie and Red cartoons. Red Hot Riding Hood (1943) casts Red as
a nightclub dancer and the wolf as a lustful cad. The short was a hit
with civilians and soldiers alike, and Avery released three more in the
series to thunderous acclaim.
Maurice Horn notes, “Avery has been hailed as one of the
most gifted and imaginative cartoon directors, a ‘Walt Disney that read
Franz Kafka.’” 10 Yet Avery’s real genius was his timing: Such
raunchy cartoons can work only in a late bear or early bull market. Cartoons
would not openly address sex again for another 25 years.
Tom and Jerry Discover Slapstick Hilarity

Hubba Hubba: The Wolf's reaction to a bear market little
Red Riding Hood (1943). Animation afficionados will note the similiarities
between Red and another bear-market starlet from a bull market era, Jessica
Rabbit (1988)
Figure 10
MGM also gave violence a bull market spin with its Tom and
Jerry series. Says Horn, “Their whimsical atmosphere, frenetic motion
and choreographed violence were more in tune with the times than Disney’s
shorts.”11 The cat-and-mouse team engaged in slapstick antics
with zero consequences. Characters might lose a tooth, get electrocuted
or be driven into the ground by a telephone pole, but they always remained
safe and whole to play-fight another day. The sunny, bull-market mood
showed through characters, story, animation and gags in nearly every Tom
and Jerry short, typified in The Cat Concerto (1946), released
the year of a stock market top. Tom is an esteemed pianist and Jerry the
unwitting resident inside Tom’s piano. Hijinks ensue at Tom’s recital,
with Jerry taking credit for the performance. It was the right cartoon
for the times, and Tom and Jerry won seven Academy Awards.
Warner Bros. and Disney Mirror Auto Styles
In his 2006 study Social Mood and Automobile Styling,
socionomist Mark Galasiewski expounded on Prechter’s earlier observations
that cars produced in bull markets are angular and sharp-edged, while
bear market cars are soft and rounded.12 Now we find that animation
styles at both Warner Bros. and Disney studios also fit this pattern.
Warner Bros. found its feet in the 1940s. The studio created
Daffy Duck, Porky Pig and Bugs Bunny during the sideways/down years of
the late 1930s, and their early incarnations were flat, dull and surreal.
But note how the renderings sharpen as mood improves (Figure 11), just
as car lines do. Even Porky becomes leaner and more anthropomorphic. The
trio also develops distinct, complex personalities. The gags become layered,
and the worst that ever befalls any character is a spinning beak or singed
whiskers. Plots lack villains; violence is caricatured and derives mostly
from zany rivalries.
Figure 11
The studio’s beloved Wile E. Coyote and Roadrunner series
(1948-1966) centered entirely on conflict. Yet the shorts aired during
a roaring positive-mood period, and in an extreme expression of inclusionism,
both rivals manage to win our empathy. We want Wile E.’s elaborate inventions
to succeed, yet we also delight when the same inventions backfire. We
know the spectacular failures will result in a long, whistling fall punctuated
by a puff of dust. Positive mood appreciates mollified violence; successful
cartoons deliver it.
The Wave Principle of Human Social Behavior (1999)
pointed out Disney’s Cycle wave III successes, with the hits Cinderella,
Sleeping Beauty, 101 Dalmatians, and others. 13
We call special attention to Sleeping Beauty, released in 1959
after the midpoint in rising mood. Sleeping Beauty signaled a new
direction for the studio. The film uses stylized, angular illustrations
for characters and background, a departure from the roundness of Disney’s
1930s productions. With social mood strongly positive, the animation style
would define Disney for the remainder of Cycle III—as well as during Cycle
V.
Woody Woodpecker: A (NUT) Case Study
Consider Woody Woodpecker from his birth just before Primary
wave 1 up to his demise just after Primary wave 5. Early Woody (1941)
was grotesque, insane and mean, a good example of the kind of characters
bear markets produce. By 1945, Primary wave 1 had removed the psychosis
from his eyes and mitigated his madness.
In the early 1950s amidst Primary wave 3, Woody was lean,
determined, and blessed with clever scripts and fun villains upon whom
to exact his heroics. Critics agree that this was the era of Woody’s best
cartoons, including Termites from Mars and Socko in Morocco.
Figure 12
Woody’s appearance continued to sharpen into 1960, but he
became increasingly benign. By the late 1960s, Woody was cute incarnate
and, to most critics, utterly boring. Late-bull-trend morality led to
heavy censorship, which took any remaining edge off Woody.
The move toward a benign Woody frustrated Walter Lantz,
Woody’s creator. Critic Leonard Maltin notes that:
For [Woody’s] most recent Saturday morning program on the
NBC network, [Lantz] had to remove every sequence in which a character
fired a gun or hit someone on the head with a hammer. Is it any wonder
that Woody and his cohorts became blander as the years rolled on?6
To a socionomist, it is not. Woody Woodpecker’s genesis
was in a bear market. He successfully adapted to bull market tastes, but
after reaching his comic peak early in Primary 3, rising mood ground away
what had made the character so funny. By the end of his run he had become
so sweet that he did not evolve back to his former self when he needed
to.
CITATIONS
1 Turner, T. (Producer). (1991).
Cartoon network 1991 presentation reel. [Web]. Retrieved from
http://www.youtube.com/watch?v=b0Wm-VaYxeA
2 Horn, Maurice, Felix the Cat.
(1980). The World encyclopedia of cartoons. New York City: Chelsea
House Publishers, 271.
3 Maltin, Leonard. (1980). Of
Mice and magic: a history of american animated cartoons. New York
City: Penguin Books, 37.
4 Ibid, 110.
5 Prechter, R. R. (1999). The
Wave principle of human social behavior and the new science of socionomics.
Gainesville, GA: New Classics Library, 232.
6 Maltin, Leonard. (1980). Of
Mice and magic: a history of american animated cartoons. New York
City: Penguin Books, 186.
7 Ibid, 250-251.
8 Bailey, Steve. (2003, April
04). Imdb user reviews for coal black and de sebben dwarfs. Retrieved
from http://www.imdb.com/title/tt0035743/usercomments
9 Hall, A, & Prechter, R.R.
(2009, August). The Wave principle delineates phases of social caution
and ebullience. The Socionomist, 1(3), 3.
10 Horn, Maurice. (1980). Tex
Avery. (1980). The World encyclopedia of cartoons. New York City: Chelsea
House Publishers, 103.
11 Ibid. 683.
12 Galasiewski, M. (2006, July
14). Social mood and automobile styling. The Elliott Wave Theorist, 7(28),
Retrieved from http://www.elliottwave.com
13 Prechter, R. R. (1999). The
Wave principal of human social behavior and the new science of socionomics.
Gainesville, GA: New Classics Library, 242.