1987

“The rallies came after a worldwide wave of panic had swept #stockmarkets yesterday, with an unprecedented 25 per cent slashed from prices on the #Australian market.

Amid extraordinary scenes, investors crushed into public galleries around the country watched in horror as the key market indicator, the All Ordinaries index, crashed 515 points to 1549, wiping a massive $55 billion from the total value of all #shares #traded.”

I was an Undergrad that year. Myself and a mate walked down to Collins Street to watch the crowds milling about the trading house. Watching their stocks being wiped out. Bloody hilarious.

I hope this crash, crushes private housing investors as the money market dries up, firms collapse, people become unemployed.

The young deserve a chance at home ownership.

<https://www.theage.com.au/business/markets/30-years-on-the-black-monday-crash-20171012-gyzgvp.html>

#AllOrds / #stocks / <https://www.theage.com.au/business/markets/30-years-on-the-black-monday-crash-20171012-gyzgvp.html>