The Psychology of Investors in the 1950s and 1960s

Volcker changed the monetary policy over a weekend. It was his move that ended inflation here and basically in the western civil, western cultures. On one side of the trading pit bonds were trading limit up. On the other side of the Trading Pit Bonds were trading limit down. That Saturday night massacre caused an incredible tumult in the bon pit. But it took several years for people to believe this was now the end of inflation.