We Loved the 1980s -- Right Up Until We Didn't
October may not be the cruelest month for investors -- based on the averages, that's September. But when Wall Street stumbles at this point of the year, it stumbles extra hard. And that's why Alison Southwick and Robert Brokamp picked October for a four-part series on the history of market crashes in the United States.
In this podcast, guest and Former Fool Morgan Housel leads the discussion as they reflect on two major economic tumbles: the long downturn of the 1970s and 1987's Black Monday. Coming into the 1980s, Fed Chairman Paul Volcker jacked up interest rates to unheard-of levels in an effort to break the back of inflation. Eventually, that succeeded, leading the economy into a powerful boom. But all good things come to an end -- in this case, on Oct. 19, 1987. (Then again, did it really end then?)
A full transcript follows the video.
Source: Fool.com
