So, according to [http://www.timesonline.co.uk/article/0,,2095-2189601,00.html|a May 21, 2006 article] at http://TimesOnline.co.uk things in the stock markets around the world look an awful lot like they did in 1987 when the infamous "Black Monday" struck. Have a read of a clip from the above-linked article:
CONDITIONS in the financial markets are eerily similar to those that precipitated the “Black Monday†stock market crash of October 1987, according to leading City analysts.
A report by Barclays Capital says the run-up to the 1987 crash was characterised by a widening US current-account deficit, weak dollar, fears of rising inflation, a fading boom in American house prices, and the appointment of a new chairman of the Federal Reserve Board.
All have been happening in recent months, with market nerves on edge last week over fears of higher inflation and a tumbling dollar, and the perception of mixed messages on interest rates from Ben Bernanke, the new Fed chairman.
Damn. Sounds like a possiblity to me but then I don't know anything about this stuff. I'm just glad I don't own any stocks. Oh wait--I do have that Roth IRA my dad opened for me.
Eeek!
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