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Stock Market / Campaign '88 / Yuppies #313130

CBS Evening News for Wednesday, Oct 21, 1987
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(Studio: Dan Rather, Bob Schieffer) Democrat's politicizing stock market crisis reported [Representative Richard GEPHARDT - says though he respects Reagan's tenacity, he believes the chickens have come home to roost.] [Governor Michael DUKAKIS - says Reagan has made clear that the deficit is real, not just an abstraction.] Impact of stock market plunge on next year's economy discussed. [Econ. Allen SINAI - says a bad economy in an election year does no one any good.] [Kemp campaign chairperson Ed ROLLINS - says George Bush will be hardest hit because he has to follow whatever the administration dictates.] Video of Depression years and soup kitchens shown. Republicans' dread that Depression could happen again mentioned. [Bush campaign advisor Nicholas BRADY - says there is no similarity between today and 1929.] Republican candidate Jack Kemp's quick distancing of himself from Reagan noted. [KEMP - says if he had been pres., plunge would not have occurred because he believes in defending the dollar.] [Senator Robert DOLE - says he has been calling for mos. that deficit be reduced and now he can say it with even more credibility.] Deficit said now being hailed major concern for all partisan president cands.

(Studio: Dan Rather) Report introduced.

(NYC: Charles Osgood) Young professionals attaining more success than manageable said now seeing how quickly times can change. [MAN - says it is too early to tell what kind of an impact the plunge will have on him.] [Psychologist Steven BERGLAS - says wealthy young stockbrokers have been punched hard and are not likely to feel as secure again.] [Mkt. consultant Leo WEST - says the young execs. who have never seen the downside of the market were totally unprepared.] Whether yuppies being harder hit than people alive during Depression discussed. [Older MAN - says there is no way a yuppie could understand what it was like during the Depression because their lifestyles have been totally different.] [YUPPIE - says even though he did not live during the Depression, saving a penny has become more important.] [YUPPIE - says he will not be buying that Porsche after all.] [Luxury car dealer Kevin MADEO - says by Monday afternoon, no one was calling to look at cars.] [YUPPIE - says she likes living beyond her means but plans to think twice before making large ticket purchases now.] [Nobel Prize winner for economy Robert SOLOW - says maybe the crisis will make engineers out of yuppies.] [MAN - says he is sick of yuppies and is glad that maybe there will not be any more of them around. Monday's plunge being like a heart attack telling the yuppies to slow down quoted.

Reporter(s):
Osgood, Charles;
Rather, Dan
Duration:
00:05:30

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