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SilasBarta comments on Mathematicians and the Prevention of Recessions - Less Wrong
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1987 is the example typically offered by propotents of that position.
For all the sound and fury at the time, it wasn't all that big a bubble. The trough was only barely a 52-week low - the Dow closed Black Monday at 1739, the previous 52-week low was 1808, and by Wednesday it was back up over 2000. (Admittedly, it did keep bouncing around for a while).