The Panic of 1907

Keith McCollum: The panic of 1907 warrants everyone's attention because it was a pivotal event in the history of markets and the US economy. He says crisis took root in a 10 year boom beginning in 1897 and ending in early 1970s, late 1906. It led to the founding of the US Federal Reserve System; arguably prompted an extended period of what economists call hysteresis that is to say underperformance compared to economic capacity. KeithMcCollum: If you want to get ready for the market day, you want to make good decisions, then this is what you should be watching.