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  • Category: Miscellaneous

    19-10-1987. Stock Market Crash. Can we learn

    On this day (19-10-1987) the global stock market crashed in a short time and millions were lost in few hours. The New Zealand stock market fell by 60%, other markets fell by 22-45%. Many countries suffered and took a few years to recover.

    Around the same time (15-16 October 1987) a great storm affected England, France, Spain and parts of Europe. The insurance industry had to pay out an estimated bill of 2 billion pounds in England. During the storm, the stock markets of Europe were closed and hence could not react better.

    Incidentally again, On 15-16 October 1987, Iran hit two US ships with silkworm missiles on two successive days and the US retaliated by hitting an Iranian oil platform on 19th October.

    Egos, ambitions and greed of a few men, aided by Nature's fury destroyed the lives of many.
    30 years later we have similar issues ( a few hurricanes in Atlantic, Korea and the US threatening each other and the market may have a mini-crash).
  • #612212
    No, we won't learn. Stock market rise and fall are due to greed and fear of people. The wild fluctuation is also due to this reason. If we learn to limit our expectation our greed, then stock market would loose its charm. So again stock markets (all over the world) will move on to reach astronomical height and will fall crashing. This will happen again and again.

    Very few will learn, others will suffer. Very few can sell off when the market is very high, others wait for further profit. Very few will have the courage to purchase when the market crashes, others will sell off when the market is low.

    Beware! I question everything and everybody.

  • #612213
    It is true that egos, ambitions and greed of a few destroyed the lives o many. Of course, Nature's fury is also there as a help to the incidents. This is the conclusion for the incidents happened in the month of October 1087. But even after that great loss the human beings never learned any lesson. They were in sorrow for some time, and they recovered from the incident and gone on their own without any lessons learnt. From October 1987 to October 2017, the ego factor, the ambitious nature and greedy nature of the mankind increased multifold. They have not learnt any lessons from the incident. A few who learnt might have been forgotten, their negative qualities enhanced. But luckily nature is not so furious always expect for a few times in between, that is why we are surviving? What is going to happen can't be predicted. A nuclear war may be in the offing.
    always confident

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