In the 1970's the in response to a financial crisis, An unpopular government, stuck in an unpopular war, responded to populist sentiment and passed the price controls that lead to 12 years of economic pain.
In the 1930's Weak response to a financial crisis, lead to a series of horrific economic decisions. Which resulted in the most disastrous economic period in U.S. History.
Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.
J. P. Morgan
Wednesday, September 24, 2008
The Unthinkable
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