No. of Recommendations: 2
The following are the ten largest stock market crashes in history, along with the percentage decline from the peak to the trough:
Great Depression Crash (1929-1932) - The stock market decline was 89%, with the Dow Jones Industrial Average (DJIA) falling from its peak of 381 points in 1929 to a low of 41 points in 1932.
Black Monday Crash (1987) - The stock market decline was 22.6%, with the DJIA falling from its peak of 2,722 points on October 19, 1987, to a low of 2,246 points on October 20, 1987.
Dot-com Bubble Burst (2000-2002) - The stock market decline was 78%, with the NASDAQ Composite falling from its peak of 5,048 points on March 10, 2000, to a low of 1,114 points on October 9, 2002.
Global Financial Crisis (2007-2009) - The stock market decline was 56.8%, with the DJIA falling from its peak of 14,164 points on October 9, 2007, to a low of 6,547 points on March 9, 2009.
Asian Financial Crisis (1997-1998) - The stock market decline was 65%, with the Nikkei 225 falling from its peak of 38,957 points on December 29, 1989, to a low of 13,871 points on October 8, 1998.
Oil Crisis Crash (1973-1974) - The stock market decline was 45%, with the DJIA falling from its peak of 1,051 points on January 11, 1973, to a low of 577 points on December 6, 1974.
Savings and Loan Crisis (1989-1990) - The stock market decline was 19.9%, with the DJIA falling from its peak of 2,870 points on July 16, 1990, to a low of 2,296 points on October 11, 1990.
Russian Financial Crisis (1998) - The stock market decline was 31%, with the DJIA falling from its peak of 9,337 points on July 17, 1998, to a low of 6,410 points on August 31, 1998.
1970s Stagflation Crash (1976-1978) - The stock market decline was 27.6%, with the DJIA falling from its peak of 1,038 points on September 21, 1976, to a low of 751 points on March 6, 1978.
9/11 Terrorist Attacks (2001) - The stock market decline was 11.6%, with the DJIA falling from its peak of 9,605 points on September 10, 2001, to a low of 8,489 points on September 21, 2001.
It's important to note that these historical stock market crashes are not necessarily indicative of future performance, and past performance is not a guarantee of future results.
No. of Recommendations: 2
I am very optimistic that AI will make big improvements in our lives. Imagine if wide spread adoption of AI could increase real US productivity growth from 1.4% to 1.5% (and thus real GDP growth from 1.9% to 2.0%). Over 20 years that would add 22% to per capita GDP. Imagine if AI could help companies produce higher quality products and services at lower prices. That would increase our quality of life. However, before AI can contribute to such improvements it needs to be able to retrieve reliable data and to make valid inferences from the data. In many cases, such as inferences regarding fiscal and monetary policy, the inferences, and even the data, will not be accepted by many people. We humans tend to accept theories early in life and to spend the rest of our lives interpreting data in such a way as to fit our theories.
