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From: john@bby-bc.UUCP
Newsgroups: can.politics
Subject: Re: market crash
Message-ID: <168@bby-bc.UUCP>
Date: Fri, 23-Oct-87 01:08:13 EST
Article-I.D.: bby-bc.168
Posted: Fri Oct 23 01:08:13 1987
Date-Received: Sun, 25-Oct-87 10:51:10 EST
References: <167@bby-bc.UUCP> <912@sask.UUCP>
Distribution: can
Organization: Burnaby, British Columbia, Canada
Lines: 31

In article <912@sask.UUCP>, tubman@sask.UUCP (Jim Tubman) writes:
> In article <167@bby-bc.UUCP> john@bby-bc.UUCP (john) writes:
> >
> > I see this morning's Globe&Mail says the NYSE's Dow composite dropped over
> > 20% yesterday with most other world markets indicators dropping about %10
> > (except for the Japanese who only dropped %2).  Sure is a good thing
		    ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

> > we're going to tie our economy so tightly to the US, isn't it.....
> >
> >john
> 
> All the stock markets in the world (except, apparently, Egypt's) took a
> beating.  London, Tokyo, Hong Kong (since closed), Singapore, Sydney,
> Toronto, Montreal, Vancouver...

Perhaps it's changed since I lst looked but Tokyo hardly felt it - while
the US DOW was dropping 20% the Nisei DOW dropped only 2%.

> Too bad our economy is tied so tightly to the planet Earth's.
> 
 No - too bad so many countries tie themselves so tightly to the US economic
 wagon.

 During the great depression Canada suffered a lot more than the US.
 Economists who have studied this claim that it was because %40 of
 our raw material exports were to the US and of course
 when they couldn't buy we were in trouble.  Nowadays the figure is
 much higher (~60% I think) so we would suffer even more.  Why then are
 we trying to hitch our wagon even tighter to a country which is predicted
 to enter a serious recession within two to three years?