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From: jmsellens@watdragon.UUCP
Newsgroups: can.politics
Subject: Re: market crash
Message-ID: <3962@watdragon.waterloo.edu>
Date: Thu, 29-Oct-87 10:09:52 EST
Article-I.D.: watdrago.3962
Posted: Thu Oct 29 10:09:52 1987
Date-Received: Fri, 30-Oct-87 23:58:50 EST
References: <167@bby-bc.UUCP> <1060@looking.UUCP> <1987Oct21.225842.18695@gpu.utcs.toronto.edu> <2107@lsuc.UUCP>
Reply-To: jmsellens@watdragon.waterloo.edu (John M. Sellens)
Distribution: can
Organization: U. of Waterloo, Ontario
Lines: 17

In article <2107@lsuc.UUCP> dave@lsuc.UUCP (David Sherman) writes:
>I must disagree on this.  When the crash wiped out people's
>profits, it took a lot of purchasing power with it.  We're
>not going to buy that second car now, or as quickly make other
>major purchases which we'd been contemplating.  The overall effect
>on the economy may be serious.

While many people lost a lot of money due to the "crash", some people
actually made money.  A friend of mine in Chicago who trades options
had his best week ever, and he was on holiday for most of it.  He
may buy a new car.

Stock markets are weird - they strike me as being full of superstition
and weird ideas about reality.  Oh well, they sort of work, except
for last week, and I guess the months leading up to it.  Maybe there's
some way to slow the market down and avoid the panicy follow the
leader activity.