alternatehistory.com

Meta: this is a side project to Castro '68, which means posts will not be as common. I recommend watching this thread. But you do you. Also Im not an Economist, I dont know really how economics works too much. I have basic understanding of it.


It was a cold Monday in October, 1987, The boom of the 80s was in full swing. At least everyone thought. The Market Opened up to a terrifying sight for Investors, The Dow J had fallen 1016 points, Panic engulfed wall street over the next few hours. Investors sold stocks as quick as they could, only perpetuating the crisis.Ronald Reagan Awoke from a nap that morning, an Aid rushed to him, handing him a newspaper...Reagan's eyes widened.
"Jesus Christ, I fear for the worst"
As Market Conditions began to worsen, People began rapidly withdrawing money from banks, Reagan now had to deal with an Economic collapse on par with the great depression. Reagan to the day he died said that "If another mild inconvenience had occurred that day, I would have had a heart attack and died right then and there"
Despite his opposition to federal power, he used an executive order to close the banks, after 2 weeks of deliberation. Then the firings came. It is estimated that the unemployment rate shot up at a terrifying pace. With the collapse, across the western world economic conditions collapsed, Reagan tried to Rally the Nation with one of his speeches:
"My Fellow Americans, This Week, the American Economy suffered the greatest crisis since the Great Depression, the Dow J falling 1016 points, I have done my best to contain the damage, All we must do now is weather the storm."
Excerpt from Reagan's address
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