Lesser panics continued to strike—the John F. Kennedy recession, the double-digit inflation of the Jimmy Carter years, and the crash of 1987 during Ronald Reagan’s presidency, when the stock market suffered the largest one-day loss in its history. Wall Street, and the economy as a whole, rebounded every time. So before President Barack Obama completely “remakes” America, as he has promised, he might benefit from a long look in the rearview mirror. Our system has proven remarkably resilient.
That’s the closing of an article found at CityJournal