What the Fad Did to Wall Street?

In the 19 seventies, we had oil go from three dollars and 50 cents before the embargo in 73. And so we had a recurring of shocks and a much more oil dependent country. Of course, you could argue it's not just oil, but we do know that oil feeds into core. But of course, this is much bigger than nint seventies. It's much more broadly based. The bom market's priced it in in a much bigger hurry, and the fad's not caught by surprise.