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Why did we think the economic boom would last forever? A kind of inebriation—irrational exuberance—was driving the economy. When people are drinking too much, they don’t realize it, so they need someone to intervene. As William McChesney Martin, the Federal Reserve’s longest-serving chairman, once said, “The important thing for the government to do is to …
The post Interview with Robert Shiller, The Economic Oracle Who Saw the Crash Coming appeared first on HistoryNet.
A Letter From Aviation History—”Lucky” Penney on 9/11Fifteen years ago on a sunny September day, civil aviation as we knew it changed forever. So too did the lives of all Americans, as the horrifying spectacle of airliners crashing i… Read MoreDaily Quiz for September 8, 2016To avoid shaking hands at public events, this U.S. first lady would carry a bouquet.
The post Daily Quiz for September 8, 2016 appeared first on HistoryNet.
… Read MoreSully Speaks OutThe “Miracle on the Hudson” was no miracle; it was the culmination of a 35-year military and airline flying career Captain Chesley Sullenberger was the right person, in the right p… Read MoreThe Rise of the American Navy 1775 – 1914On a warm August day in 1785, at the Merchants’ Coffee House in Philadelphia, an eight-year-old Continental Navy 32-gun frigate named Alliance was auctioned off for $26,000. … Read MoreDaily Quiz for September 9, 2016This city was the first in the U.S. to offer public school kindergarten.
The post Daily Quiz for September 9, 2016 appeared first on HistoryNet.
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