Obama's index, in contrast, stayed high through early October and climbed further following the Oct. 7 debate.

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Considering October of 1987, bubble theorists would likely explain the Oct. 19 crash as a function of a market that similarly spiraled out of control--its impressive rise throughout the '80s a precursor to its ugly, 24.5% collapse.

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The economy flat-lined in October 2008 and the Dow Jones average spiraled from 10, 800 on Oct. 1 to 6, 500 six months later.

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