How quickly we forget. I was at the ripe old age 25 years when Black Monday decimated world markets and economies. The Dow Jones Industrial index lost 25% of it’s value in just one day. The fundamental difference between then and now is the internet and the media. These two mediums seem to focus their attention on the emotionally weak people who seem to thrive and exist for the soul purpose of being frightened on a minute to minute basis.

I have been saying this for years now, but it bears repeating. All media is predicated on FEAR! They know exactly what they are doing and I blame the media for the bulk of the current financial crisis threatening global stability. I maintain now as I have since the beginning of August, 2008, that things are not as bad as the media is making it out to be.

You can trace the GLOBAL CRASH of world financial markets back to September 3 2008, when the mainstream media took the economic ball and ran with it. As soon as the dullards that make up the vast majority of the population read and saw the news, from that day forward they hid their collective heads (and wallets) in the sand and they will not take them out again until the media elite tell them that its okay to do so.

Now there are plenty of reasons for the media elite to do this. To be behind orchestrating the downturn in the economy. The biggest reason I believe that the media in America would want to exacerbate an already bad situation is to prove to the world how terrible a President G.W. Bush was and how their perception of Barrack Obama as the great Messiah was accurate and correct. Let us not forget that it was right at the end of August 2008 that Obama became the clear front runner in the election.

The following is a brief rundown of Black Monday, 1987 copied from Wikipedia. Enjoy. JD

In financial markets, Black Monday refers to Monday, October 19, 1987, when stock markets around the world crashed, shedding a huge value in a very short period. The crash ended in Hong Kong, spread west through international time zones to Europe, hitting the United States after other markets had already declined by a significant margin. The Dow Jones Industrial Average (DJIA) dropped by 508 points to 1739 (22.6%).[1] By the end of October, stock markets in Hong Kong had fallen 45.8%, Australia 41.8%, Spain 31%, the United Kingdom 26.4%, the United States 22.68%, and Canada 22.5%. New Zealand’s market was hit especially hard, falling about 60% from its 1987 peak, and taking several years to recover.[2] (The terms Black Monday and Black Tuesday are also applied to October 28 and 29, 1929, which occurred after Black Thursday on October 24, which started the Stock Market Crash of 1929. In Australia and New Zealand the 1987 crash is also referred to as Black Tuesday because of the timezone difference.)

The Black Monday decline was the largest one-day percentage decline in stock market history. Other large declines have occurred after periods of market closure, such as on Monday, September 17, 2001, the first day that the market was open following the September 11, 2001 attacks. (Saturday, December 12, 1914, is sometimes erroneously cited[3][4] as the largest one-day percentage decline of the DJIA. In reality, the ostensible decline of 24.39% was created retroactively by a redefinition of the DJIA in 1916.[5][6])

Interestingly, the DJIA was positive for the 1987 calendar year. It opened on January 2, 1987, at 1,897 points and would close on December 31, 1987, at 1,939 points. The DJIA would not regain its August 25, 1987 closing high of 2,722 points until almost two years later.

A degree of mystery is associated with the 1987 crash, and it has been labeled as a black swan event.[7] Important assumptions concerning human rationality, the efficient market hypothesis, and economic equilibrium were brought into question by the event. Debate as to the cause of the crash still continues many years after the event, with no firm conclusions reached.

In the wake of the crash, markets around the world were put on restricted trading primarily because sorting out the orders that had come in was beyond the computer technology of the time. This also gave the Federal Reserve and other central banks time to pump liquidity into the system to prevent a further downdraft. While pessimism reigned, the DJIA bottomed on October 20.

Following the stock market crash, a group of 33 eminent economists from various nations met in Washington, D.C. in December 1987, and collectively predicted that “the next few years could be the most troubled since the 1930s.”