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100 years of financial disasters
3 of 5
1970s inflation
Problem:
The country's only great peacetime inflation, sparked by an oil embargo, the breakdown of the Bretton Woods monetary system, and poor Fed decisions.
Outcome:
New Fed chairman Paul Volcker cracked down, bringing on a deep recession.
NEXT: Japan's lost decade
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Last updated October 14 2008: 10:02 AM ET
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