Wow! Just watched the October 16, 1987 Wall Street Week with Louis Rukeyser,which was the trading day eve (Friday night) before the Black Monday stock market crash. Marty Zweig famously nailed it.
The show ends with this eerily familiar exchange between Rukeyser and economist, Alan Sinai.
LOUIS RUKEYSER: Is the answer to get tough with our trading partners as people suggest?
ALAN SINAI: Oh, I think some of that will be tried.
LOUIS RUKEYSER: Will it be successful?
ALAN SINAI: Part of our problem today is a crisis in confidence because in Washington we are having trouble, and we’re having trouble dealing with our trading partners.
Gulp! Remember to panic before everyone else.