I remember Black Monday of 1987 well. It was a nice October day. I was working as a bartender at the Magnolia Cafe in Center City Philly. I had left Wall Street 3 years earlier. Then in May of 1987, after the first leg of the 1987 bond market crash, I was fired from my job as a mortgage broker. I wasn't the first of my colleagues to be let go, nor was I to be the last. It was a bad scene in the real estate business that year.
Sound Familiar? A Personal Reminiscence of 1987
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David Stockman’s Contra Corner isn’t your typical financial tipsheet. Instead it’s an ongoing dialogue about what’s really happening in the markets… the economy… and governments… so you can understand the world around you and make better decisions for yourself.
David believes the world -- certainly the United States -- is at a great inflection point in human history. The massive credit inflation of the last three decades has reached its apogee and is now going to splatter spectacularly.
This will have lasting ramifications on how governments tax and regulate you… the type of work you and your family members will have available and what you get paid… the value of your nest egg… and all other areas comprising your quality of life.