Friday, October 03, 2008

The Great Depression


I'd like to highlight this post from the Washington Post on the 1987 crash.

Tuesday, October 20, 1987; Page A01 (Washington Post)

The stock market was devastated by the worst one-day collapse in history yesterday in a pandemonium of panic selling that shattered all records and swamped stock exchanges around the country and overseas.

The best-known market barometer -- the Dow Jones average of 30 industrial stocks -- plummeted 508 points, five times the previous record set last Friday. The Dow closed at 1738, dropping 22.6 percent, or nearly double the 12.8 percent plunge of Oct. 29, 1929, the crash that began the Great Depression.

Does a stock market crash cause a depression or add trouble an already weak economy?

Tomorrow is the day. Hope for the Best, Expect the Worst.

3 comments:

kristel. on 10:12 AM said...

If you have down time, check out this new site for traders: www.traderplanet.com
There is a place for blogging there too, and hopefully soon a program will be incorporated where you can set up this blog to post the same content automatically to the TraderPlanet blog, giving you and your studies some extra exposure to the wide world of traders out there! So check it out, create a profile, and let me know what you think!
Most importantly though- keep up the great posts!!

Anonymous said...

suggest watching crash of 87 videos-
especially wall street week -
so much is the same-
http://www.youtube.com/user/crashof1987

Anonymous said...

watch this instead:
http://www.youtube.com/watch?v=lOITEBQ-0aw

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