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A College Freshman History Text on the Stock Market Crash of 1987.
American: A Narrative History
| 2004
| George Brown Tindall and David Shi
Posted on 08/22/2006 10:51:02 AM PDT by mcvey
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To: mcvey
Oh I see. A case of academic "freedom" to use only leftist texts.
So what's wrong with Johnson: eminent historian. Get everyone to agree. Tell them he's a Euro leftie.
21
posted on
08/22/2006 11:02:57 AM PDT
by
eleni121
(General Draza Mihailovich: We will never forget you - the hero of World War Two)
To: wagglebee
Yes, wagglebee, I had forgotten all about that spending spree. This is a subject I cover once a year and that had slipped my mind.
Thank you . . . great piece of data.
22
posted on
08/22/2006 11:04:05 AM PDT
by
mcvey
(Fight on. Do not give up. Ally with those you must. Defeat those you can. And fight on whatever.)
To: wagglebee
Point out how insignificant the little blip around 1987 is.
23
posted on
08/22/2006 11:04:53 AM PDT
by
DancesWithBolsheviks
(Fatigued with the party always being in my backyard.)
To: mcvey
Check the DOW history of that week.
If my memory serves, the DOW recovered 100% of that "crash" the very next day.
24
posted on
08/22/2006 11:05:13 AM PDT
by
ChadGore
(VISUALIZE 62,041,268 Bush fans. We Vote.)
To: eleni121
I once used the chapters out of Paul Johnson's Modern Times and was told by a junior colleague that he and his students only use that books so that they can become angry over his distortions. (I am not making this up!)
25
posted on
08/22/2006 11:05:46 AM PDT
by
mcvey
(Fight on. Do not give up. Ally with those you must. Defeat those you can. And fight on whatever.)
To: mcvey
But most [analysts] agreed that the . . . problem was the nations spiraling indebtedness and chronically high trade deficits. Americans were consuming more than they were producing, importing the difference, and paying for with borrowed money . . . Foreign investors had lost confidence in Reaganomics and were no longer willing to finance Americas spending binge.Hey dude, you could say the exact same thing about today. Or 1996. Or 1976. Or 1966. We are more in debt, have way bigger chronic trade deficits, are paying with more borrowed money, and are consuming way more now than in the 1980s. And besides, the stock market "crash" (really just a market correction, albeit a steep one, "crash" is a complete misnomer created by the press) had nothing at all to do with foreigners not wanting to finance our "spending binge." Foreigners were and are completely willing to buy our bonds. Stocks had just become temporarily over-valued, and had recovered all their losses within a couple of years. It was an EXCEPTIONALLY good time to buy stocks.
So, this doesn't explain anything, except by putting the nebulous label "Reaganomics" on it and expecting rows of gullible college students to go, "Yeah, the evil Reaganomics."
Throw that book out and look for something that isn't just a polemic.
To: coconutt2000
Probably teaching at a publicly-funded college, where ignorance of Republican policies is a prerequisite for employment.
27
posted on
08/22/2006 11:06:34 AM PDT
by
My2Cents
(A pirate's life for me.)
To: coconutt2000
Depressingly, he or she can be in his late 20's or early 30's. I was born in '77 (so, I was only 10 when all of that was going on) and have friends I graduated with who are MD's. How much longer does it take to get a PhD. I could easily have a masters by now.
28
posted on
08/22/2006 11:06:43 AM PDT
by
ark_girl
To: eleni121; mcvey
Excellent recommendation. My high school kid read it (calling it her "nosebleed" book) but she did finish it and learned a tremendous amount of factual history from it.
Try "Modern Times" by Johnson as well.
29
posted on
08/22/2006 11:06:48 AM PDT
by
cinives
(On some planets what I do is considered normal.)
To: mcvey
And more government officials, including Attorney General Edwin Meese, became entangled in the web of corruptionSomeone correct me if I'm wrong but wasn't Meese's "corruption" accepting a gold watch from the Japanese?
As an aside, I'm taking a micro-economics class this fall. God help me.
30
posted on
08/22/2006 11:07:01 AM PDT
by
VeniVidiVici
(Rabid ethnicist.)
To: DancesWithBolsheviks
31
posted on
08/22/2006 11:07:37 AM PDT
by
weegee
(Remember "Remember the Maine"? Well in the current war "Remember the Baby Milk Factory")
To: ark_girl
No, ark_girl . . . it is he and I had my first master's before you were born.
32
posted on
08/22/2006 11:08:02 AM PDT
by
mcvey
(Fight on. Do not give up. Ally with those you must. Defeat those you can. And fight on whatever.)
To: mcvey
Do you actually have to use the textbook. I remember classes in college where the professor told us on the first day of class that we didn't even need to bother buying the textbook because he wasn't going to use it and everything came from handouts and his lectures.
33
posted on
08/22/2006 11:08:07 AM PDT
by
wagglebee
("We are ready for the greatest achievements in the history of freedom." -- President Bush, 1/20/05)
To: mcvey
Please put me on your ping list, thanks
34
posted on
08/22/2006 11:08:38 AM PDT
by
Hydroshock
( (Proverbs 22:7). The rich ruleth over the poor, and the borrower is servant to the lender.)
To: mcvey
Place marker (for later reading).
35
posted on
08/22/2006 11:09:23 AM PDT
by
Piranha
To: mcvey
A seeming epidemic of greed and self-absorbed materialism had spread through the countrywell then your textbook was written by idiots.
36
posted on
08/22/2006 11:09:26 AM PDT
by
GeronL
(flogerloon.blogspot.com -------------> Rise of the Hate Party)
To: mcvey
I was a broker for Blinder Robinson when that occurred.
The main culprit was computer trading. The market took a quick dip for whatever reason, but the institutional traders had just set up their software to protect their portfolios. Software trading was still relatively new and the institutions took a chop and slash attitude toward protecting their portfolios. No one knew that these systems would behave the way they did.
The drop happened so quickly, I couldn't call my clients. All we could do was sit and look at the ADP monitor and marvel at how fast it went down.
The SEC made serious changes to the way software controls the market.
This other stuff about greedy capitalists and the such is just more fart gas from the commie pinkos.
37
posted on
08/22/2006 11:09:33 AM PDT
by
Al Gator
(Refusing to "stoop to your enemy's level", gets you cut off at the knees.)
To: eleni121
Sorry, but I think our book, "A Patriot's History of the United States," is even better than PJ's book.
1) We are Americans, and "get" Americanism more than he does;
2) PJ is weakest on economics. If you look closely, he has multiple, mutually-exclusive explanations for the Great Depression.
3) HofAmPeeps only goes up to something like the early 1990s. Our paperback goes up to mid-2006!!!
38
posted on
08/22/2006 11:09:43 AM PDT
by
LS
To: mcvey
IIRC they bought Rockefeller Center and Pebble Beach for more than double fair market value at the time.
39
posted on
08/22/2006 11:09:47 AM PDT
by
wagglebee
("We are ready for the greatest achievements in the history of freedom." -- President Bush, 1/20/05)
To: wagglebee
Actually, I have used textbooks in the past where I sat there day-after-day pointing out inaccuracies and bias.
It is fun for the students and fun for me and my colleagues HATE it.
McVey
40
posted on
08/22/2006 11:09:50 AM PDT
by
mcvey
(Fight on. Do not give up. Ally with those you must. Defeat those you can. And fight on whatever.)
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