A Ticking Clock 10/1987-10/2007

Article Submitted by: Marc Freedman
The Economy


Tags: Recession, Crash.

The parallels between the crash in 1987 and the one soon to happen in 2007 are too real for comfort. Just look at the derivatives of 87 and the sub-prime mess of 2007. Or, consumer confidence which is barely holding now, but will fall in a NY minute. Or, many other similarities. The point is that again, like 87, we have our heads in the sand.

 

Submitted: Oct 14, 2007    Views: 470    Comments: 3    Likes: 21   


The parallels between the crash in 1987 and the one soon to happen in 2007 are too real for comfort.  Just look at the derivatives of 87 and the sub-prime mess of 2007.  Or, consumer confidence which is barely holding now, but will fall in a NY minute.  Or, many other similarities.  The point is that again, like 87, we have our heads in the sand.

And, like 87, the signals are all there.  It is just too tempting to stay the course and ignore them.  Conrad Aenlle has a well reasoned piece in the NYT, as does Robert Shiller:

http://www.nytimes.com/2007/10/14/business/yourmoney/14mark.html?_r=1&ref=todayspaper&oref=slogin

http://www.nytimes.com/2007/10/14/business/yourmoney/14mark.html?_r=1&ref=todayspaper&oref=slogin




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Comments Received:

JRubinstein
JRubinstein

The signals are there and Shiller is one sharp guy so I wouldn't be surprised if we have some real problems over the next month.

Posted: Oct 15, 2007

PhilR
PhilR

I don't see a crash. Perhaps some tough going but no crash, the global economy is too strong.

Posted: Oct 16, 2007

Thead
(Unregistered)

The global economy?? Have you had your head in the sand?
When Bill Clinton signed into law the reversal of the great depression law that separated the commercial banks and the stock market and again allowed our mortgages to be packaged and sold on the market, it was the beginning of our downfall.
Democrats want to blame the republicans for our current state of affairs and seem to forget just who put us where we are to start with! Apparently the democrats cannot learn from our own history. We are in deep trouble here and no doubt about it.

Posted: Sep 22, 2008



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