Panic of 1884 – Panic of 1884 – Wikipedia
Time for an editorial about global markets and how they operate: most people are unaware that the USA is the lynchpin of the world’s economies. We earned this via WWII. And then doubled down with winning the Cold War. But there was this nasty hitch: towards the end of the Vietnam War, the US began ‘strengthening allies’ due to losing that war via allowing Germany and Japan, our former dire foes, to export one way trade with the US. The chief items: CARS. Yes, vehicles. Since then, including our oil imports, the US began running worse and worse trade deficits.