Relay-Version: version B 2.10 5/3/83; site utzoo.UUCP Path: utzoo!lsuc!dave From: dave@lsuc.UUCP Newsgroups: can.politics Subject: Re: market crash Message-ID: <2129@lsuc.UUCP> Date: Tue, 3-Nov-87 10:36:23 EST Article-I.D.: lsuc.2129 Posted: Tue Nov 3 10:36:23 1987 Date-Received: Fri, 6-Nov-87 05:24:12 EST References: <1732@geac.UUCP> Reply-To: dave@lsuc.UUCP (David Sherman) Distribution: can Organization: Law Society of Upper Canada, Toronto Lines: 38 Summary: of second cars and filing cabinets In article <1732@geac.UUCP> daveb@geac.UUCP (Dave Collier-Brown) writes: >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. > > I hope you mean that as a fairly restrictive "we", dave. People Of course -- lsuc!simone and I. >with their reserves in non-stock commodities are laughing. Well, your commodities haven't gone up, they just haven't gone down. And our losses have almost wiped out our gains over the past year, but that's all. (This wasn't just "paper profits -- we'd cashed out most of our winnings, but had reinvested in a number of stocks that we thought would survive the impending downturn. We didn't expect a crash that would run across the board.) > Specifically, Joyce and I went out and bought a new filing cabinet >(retail!) the day the market dove. And we bought some new furniture, including a filing cabinet, 6 days later (at one of the few places we can buy anything on a Sunday, but that's a whole separate *.politics discussion). It's the big-ticket items that will get hit most, I suspect. Large gains & losses affect your decision to blow $25,000 on a car, not $200 on a filing cabinet... David Sherman The Law Society of Upper Canada Toronto -- { uunet!mnetor pyramid!utai decvax!utcsri ihnp4!utzoo } !lsuc!dave Pronounce it ell-ess-you-see, please...