The Running of the Bulls

September 1982
National Review;9/17/1982, Vol. 34 Issue 18, p1126
The article discusses the economic outlook of the U.S. with reference to the developments in the stock markets. It is predicted that the economy will soon recover from recession. The Dow Jones industrial average is responding to the tax hike which was brought about by steep drop in interest rates. The reason for greater drop in short-term interest rates than long-term rates could not be explained by the economic commentators. According to supply-siders, every momentary shift in political events is recorded by the stock exchanges and is reflected in the Dow Jones industrial averages.


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