Originally posted by GB9
View Post
-
Better that than ones ability to reason their desire to remain on a sinking ship. -
Black Monday refers to Monday, October 19, 1987
There's something about this that seems familiar. With the US economy reportedly slowing down and the DJ now 10 times greater than it was back then..
Something gonna to happen. Something wonderful.
In late 1985 and early 1986, the United States economy began shifting from a rapidly growing recovery from the early 1980s recession to a slower growing expansion, which resulted in a brief "soft landing" period as the economy slowed and inflation dropped. The stock market advanced significantly, with the Dow peaking in August 1987 at 2,722 points, or 44% over the previous year's closing of 1,895 points. Further financial uncertainty may have resulted from the collapse of OPEC in early 1986, which led to crude oil price decreasing by more than 50% by mid-1986.
On October 14, the DJIA dropped 95.46 points (3.8%) (a then record) to 2,412.70, and fell another 58 points (2.4%) the next day, down over 12% from the August 25 all-time high.
Source: https://en.wikipedia.org/wiki/Black_Monday_(1987)
Leave a comment: