Sky-Is-Falling Media Claim Black Monday 'Could' Happen Again |
| Published: October 17, 2007, 4:55 pm |
| Tags: economy, housing, oil amp amp gas prices, stock market, unemployment, alexis christoforous, bianna golodryga, abc, barron amp 039 s, good morning america |
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This week marks the unhappy milestone of Black Monday for Wall Street, which had some journalists warning it could happen again. Even if it doesn't, the media hammered home the prospect of a possible recession. "Can it happen again? It could," said CBS correspondent Alexis Christoforous on "Evening News" October 14. The Dow Jones Industrial Average nosedived Oct. 19, 1987, when panicked selling cost investors 22.6 percent in one day of panicked selling. But do investors in 2007 need to be worried about another crash? Barron's financial weekly's cover asked that question on October 15: Black Monday Why Wall Street doesn't think it can recur. Why Wall Street could be wrong. ABC's Bianna Golodryga warned about the "Economy in Crisis" on October 17 mentioning a number of red flags to "watch out" for -- including a spike in sweater sales, which Paul Detrick wrote about earlier today: "When you give or get practical [ Full article ] |
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