WI: 1968 economic collapse

JoeMulk

Banned
How could you get an economic collapse in September, 1968 possibly mirroring OTL's September 2008 economic meltdown and how does it effect the election?
 
How could you get an economic collapse in September, 1968 possibly mirroring OTL's September 2008 economic meltdown and how does it effect the election?

Not sure about the economics, but in terms of the election it probably means a big victory for Nixon (OTL's 1968 election was a lot closer than a quick glance at the electoral college vote would suggest). The economic collapse will be blamed on the incumbent party, and Humphrey is LBJ's Vice-President. Nixon could very easily add Texas, Pennsylvania, New York, Maryland, Connecticut, and Washington (state) to his columns (Humphrey won all those states by less than 6% in OTL). This would give Nixon quite the mandate going into his term. Nixon might also have more help; in OTL the GOP gained 5 seats in the '68 House elections; they'll probably gain considerably more, though not enough for a majority due to the Solid South. The GOP also gained 5 Senate seats in '68 in OTL; at the very least, they'll keep the two Senate seats they actually lost to the Democrats that year. The Democrats also held on in a few close races that year, so there's a possibility that the GOP will actually pick up 8-10 seats rather than 5 in the Senate. That would leave the Senate very close, though still in Democratic hands (again, Solid South).
 
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Perhaps the 1967 Six Day War outlives its name, resulting in an early oil crisis that forces an immediate US withdrawal from the Breton Woods system which (until 1969 OTL) fixed 1 oz. gold @ 35 $ US?More expensive raw materials and weaker currency benchmarks accelerate then-nascent inflation, for a time leaving the 1st-word's manufacturing economy dead in the water.
 
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