Challenge: Second Great Depression by 1990

Daddy bush, President from April 81 tries to balance the budget as does Thatcher

During the Cold War? Don't hold your breath.

I think a better bet would be a No Marshall Plan scenario in which the US instead chooses to pump those resources into a "return to normalcy" re-civilian industrialization through the late 40's and 50's. The Soviets choose to close off their economy, and without an export vent US production overheats and produces a credit boom and similar bust.
 
Deregulation goes absolutely batshit insane in the 80s and the banks start passing out loans like Oprah giving out cars to anyone and everyone? In other words, the 2007 subprime mortgage crisis meets the Crash of 1987. A bunch of people end up out of work early due to the USSR fucking up glasnost and perestroika and falling apart sooner than OTL. That should do it.
 
Reagan in 1976, goes faster with deregulation. Perhaps he's followed in 1984 by Swaggart, North, Rushdoony or Graham and we get an attempt to implement Theonomy. The economics alone would cause depression 2.0.
 
Top