ABC Evening News for Monday, Nov 02, 1987
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(Studio: Peter Jennings) Report introduced.
(NYC: Dan Cordtz) Interconnectedness of stock market and economy leading to market crash reported Roadrunner cartoon shown. Stk. mkt prices noted not connected to realistic economy outlook. [MIT professor Paul SAMUELSON - says we have been living in a speculative bubble.] [Harvard Univ. professor Ben FRIEDMAN - says market was out of touch with economy] Role of trade and budget deficits in market-econ. interconnectedness stated. [Brookings Institution Alice RIVLIN - says deficits reflect problems in economy that have to be fixed.] Anagram graphic shown. [Bank of American John WILSON - discusses inflation and stk. market] Int. rates noted. [Brookings Institution Charles SCHULTZE - discusses dollar decline, interest rates, and stock market] Recession mentioned. [WILSON - discusses interest rates' choking off economy] Lowered profits and declining stock values noted. [Hoover Institution Milton FRIEDMAN - says deficits did not cause stk. market problems; that cause was loss of faith in President Reagan.] Experts' feeling that stock prices won't go up until economy outlook improves cited.
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