Tag Archives: predictions

by Robert Reich What really happened today on Wall Street First, a bit of personal history. Two weeks before October 19, 1987, I warned publicly that “in two weeks, the stock market will lose 20 percent of its value.” Then, on October 19, 1987, the S&P 500 had the biggest one-day fall in its history — dropping 20 percent. I was immediately deluged with letters and phone calls (no emails then) from people who wanted to sign up for my...

An interesting passage from Wilhelm Liebknecht’s book Karl Marx: Biographical Memoirs (1901) about Marx’s predictions: “ … whoever prophesies revolutions is always mistaken in the date.Well, though Marx was a prophet looking into the future with sharp eyes and perceiving much more than ordinary human beings, he never was a prophesier, and when Messieurs Kinkel, Ledru Rollin and other revolution-makers announced in every appeal to their folks in partibus the typical, ‘To-morrow it will...