Tag Archives: 1987 Stock Market Crash

President Reagan On The ’87 Stock Market Crash

We are reposting this piece.  History rhymes.  The U.S. was in the midst of conflict with Iran during the 1987 crash as we are today. The Fed tried to stem the selling today and who knows what would have happened … Continue reading

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On This Day In History: The Fed Put Is Born

Or, at least, went into labor.     Wow,  three decades and one year today, I was a young economist at the World Bank.  My friend and I, now the chief economist at the FDIC, were graduate students and walked … Continue reading

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President Reagan On The ’87 Stock Market Crash

President Reagan certainly understood the nature of markets. That is they do whatever they are going to do, sometimes without a fundamental rhyme or reason.   Very different from the current occupant of the White House who seems to think every … Continue reading

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Rosie The Riveter Tweets A Red Flag

Note the date of James Baker’s comment. January 24th, 2018: Steven Mnuchin to Davos: "A weaker dollar is good for us as it relates to trade and opportunities.” October 17th, 1987: James Baker to the Germans: "Either inflate your mark, … Continue reading

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