Word: crash
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Dates: during 1980-1989
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Sixty-one percent of the respondents believed the stock-market crash will hurt all Americans, not just the wealthy. Though most people said they will not change their purchasing habits as a result of the stock-market decline, the number who plan to curtail spending could significantly affect the economy...
When asked, "Who or what is most to blame for the fall in the stock market," just 13% named Ronald Reagan, and 8% cited Congress; 36% blamed "basic problems in the American economy," while 28% said the crash is the fault of "Wall Street speculators." When asked about the federal deficit, 33% blamed Reagan, 47% blamed Congress, and 13% blamed both equally...
...when the fall came, so did a few smirks, along with jokes about yuppie brokers losing their BMWs. But mainly the reaction was personal: What did the crash mean for me, my pension, my mortgage, my business, my job, my tuition bills? Most of the momentous events that splash their headlines for history can be viewed dispassionately from afar. Not a Wall Street panic, however, not even for those who don't play the market...
...many of Wall Street's whiz kids, Monday was their first taste of financial fear, their first hard lesson that what goes up can come tumbling down. For others, it produced a gnawing unease about not only their investments but also the health of their nation. Just as the crash of the space shuttle Challenger was a blow to America's sense of technological grace, so the crash of the market shattered its sense of financial security...
...forecaster is the ultimate arbiter of the nation's credit supply and thus of the interest rates at which money is lent throughout the U.S. banking system. On the job less than three months, Greenspan is suddenly being forced to make rapid and delicate decisions to prevent the market crash from turning into a mushrooming financial collapse and to stave off a steep recession. Says Charles Schultze, who was chairman of President Jimmy Carter's Council of Economic Advisers: "Greenspan is in a very difficult period in which he is truly being tested...