1966: Stock market collapse, Vietnam War, protests 1973: Oil embargo (Oct), Yom Kippur war, Stocks collapse, recession 1980: Inflation, Iran-Iraq war, Silver panic, Stocks crash, recession 1987: Black Monday (Oct.), largest single-day crash ever 1994: Bond collapse, DJIA bear market, war 2001: Stock market crash, 911 (Sept.), recession 2008: Stock market collapse 9/29 (Sept.), recession 2015: In 1966, the Vietnam War was escalating and the US-USSR Space Race was also heating up. The economy and the stock market were in a bull phase and LBJ was president. He inherited a growing economy with low inflation, low unemployment and a stock market that was in a long-term uptrend. Hard to imagine but the national debt was relatively small. Additionally, in 1965 the GDP (4%) was higher than the unemployment rate (3.3%) the reverse of what we’ve seen in recent years.
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