You're listening to an Air Wave Media Podcast.

The Civil War and Reconstruction was a pivotal era in American history.

When a war was fought to save the Union and to free the slaves.

And when the work to rebuild the nation after that war was over,

turned into a struggle to guarantee liberty and justice for all Americans.

I'm Tracy.

And I'm Rich.

And we want to invite you to join us as we take an in-depth look at this pivotal era in American history.

Look for the Civil War and Reconstruction wherever you find your podcasts.

But this crash of 1987 is not just an American experience around the world.

Stock markets fell faster than a skydiver without a parachute.

When financial reporter wrote about how he was in a taxi on October 20, 1987

and the driver starts mumbling something about, look, there's no cars in the street.

The depression's already started.

And there was this thinking that it was going to happen because it happened the last time.

And it's in almost every news report that keep every news report they have some expert on saying

is this going to lead to a recession or depression.

But here's what Andrew Clark, who was working for the Post says.

The day after Black Monday, its lead story was a comment piece by the remarkable Australian economist Maxwell Newton.

Newton wrote correctly as it turned out that there would be no depression and no blood on the streets as a result of the crash.

At the worst, a Dow Jones level of 1800, the approximate reading post, Black Monday, represents logical real value.

It's also worth to note, which he does pre-crash the Dow had a dizzy ride galloping along to its August peak.

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