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My History Can Beat Up Your Politics

Black Monday 1987 and The Shock of Risk (Final Ark of Commerce Series, Part 6a)

My History Can Beat Up Your Politics

Bruce Carlson

News, Politics, History

4.51.1K Ratings

🗓️ 23 May 2021

⏱️ 61 minutes

🧾️ Download transcript

Summary

Worried hands gripping phones. Black screens with green digits, going downward. Faces pressed against fancy brokerage office glass. Busy signals. The history of Black Monday 1987 crash and the history of what came before it, from stock commodities and even butter and eggs. This is the first of what will be a two-parter on commerce, risk and the attempts to control that risk, insurance. All of it came together on one day in 1987 which made history, but has been somewhat forgotten about. Don't forget to try out our sponsor Betterhelp - http://www.betterhelp.com/beatup Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

You're listening to an airwave media podcast.

0:05.0

Hamburger hamburger hamburger to go six figures in the top floors of a New York City brokerage

0:13.2

one of the most prestigious a grown man was shouting hamburger hamburger hamburger to go

0:22.4

but he wasn't hungry hamburger meant McDonald's hundred thousand shares and to sell and on that

0:29.8

day Monday the 19th 1987 everything was for sale today is black Monday the day the

0:38.0

Dow dropped more than five hundred points

1:02.1

fifty five thousand Pepsi to sell sixty thousand GM to sell hamburger hamburger thirty thousand

1:10.0

JP Morgan to sell I thought pandemonium said and when JFK was assassinated in the middle of

1:15.2

a trading day a long time seller of security said that wasn't it this is the real pandemonium

1:22.0

everything is out of control said another computers were freezing phones get

1:25.9

mm busy signals human voices needed Los Angeles it's busy and people are on edge the prices this

1:33.0

Monday morning were just dropping and nobody was on the other end to catch them as I say I don't

1:39.5

think anyone should panic in one hour one hundred and forty million shares are sold they can't

1:48.0

get rid of the stocks fast enough the day the Dow dropped more than twenty two percent almost

1:53.4

double the rate of the black Monday that signal the beginning of the crash of 1929 a precious

1:58.6

metal brokerage in New York City runs out of coins to give the anxious customers looking to put

2:03.4

their money into something else panic starting in Tokyo this morning while the West slept it didn't

2:09.7

take long for New Yorkers and news crews to figure out the whatty what the scale of what was

2:15.3

happening not just a New York crash but a worldwide crash people crowded the fidelity office downtown

2:22.1

New York with faces pressed up against giant glass windows peaking but there was nothing to see

2:27.9

and people inside didn't have much more information it was some of the hubbub of 1929 mixed with

2:33.7

silence screams of Jesus Christ as cell hoarders come in when firm doubled securities at the

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