Why the 1970s Became the Era of U.S. Pessimism
October may not be the cruelest month for investor -- 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. In the 1970s, they note, stocks were a poor place to put your money -- even in the periods when they managed to eke out gains, they were being drowned by double-digit inflation. And it wasn't just an economically troubled time; it felt like nothing was going right for the country in general.
A full transcript follows the video.
Source: Fool.com
