Comment by dredmorbius
9 hours ago
Historic, yes. Unprecedented, no.
The Treasury’s intervention to bolster the yen is the first since 1998, when it bought the currency in order to strengthen Japan’s economy after the yen had dropped to eight-year lows. The US intervened in Japan’s currency in 2011 to weaken it as part of a co-ordinated international effort to prevent a dangerous currency appreciation after the Tohoku earthquake and tsunami.
(From TFA.)
The Asian Financial Crisis of the 1990s was one of several that occurred during that decade (also: the recession triggered by the 1st Gulf War 1992, the Mexican Peso crisis of 1994, the Russian financial crisis of 1998, and arguably the post-dot-com bust in 2001, stretching the decade just a tad). For those present at the time, the dot-com boom was a short-lived (though extravagent) interval, beginning in late 1998, spiking early 2000, and crashing out in early 2001.
The start of the dot com boom I would mark at August 1995 when Netscape’s IPO was the most successful IPO to that date.
But really I mark it with the IETF RFC 1290 “There’s Gold In Them Thar Networks” in 1991.
But yes, the 21st century was defined in 1990’s. Everything since is derivative. I feel sad for those born after everything worth doing had been done already.
If you look at NASDAQ and investment trends, it was markedly shorter. I had charts of both up whilst writing my earlier comment.
Though yes, I'd agree that NSCP launched the mania.