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VOLUME V Issue 1 St. John's College, Santa Fe, NM NOV. 1987 THE DE-YUPPIFICATION Naturally times are tough for those who bought at the top and sold at the bottom, and those whose OF WALL STREET assets are primarily in stocks. (Comment from the College Treasurer on this matter is forthcoming.) by MaHwell Cassidy But most of us can claim not to have done this. As many of our readers know by now, on Monday, Oct. 18, 1987 One class of people, on the other (Hereinafter Black Monday), an hand, fits right into that historic event took place. The Dow category. The Yuppies. The Jones Industrial Average soared "Coffee Generation". The "Yes, You 508.32 points downward: the Can Have It All" group. Already, biggest one-day drop in history. just a week from the crash, BMW It makes Black Thursday in 1929 sales have dropped off. Luxury look minor. condominium prices on the Upper East Side have plummeted as yuppies But fear not! For this crash pull out of real estate deals. Yuppies everywhere have lost their will not make us all into Charlie shirts. Chaplin characters (leading economic analysts agree). Instead, the crash appears to be leading Oddly enough, though, the toward the de-yuppification of Wall -entrenched rich will be largely Street, and perhaps ultimately, to unaffected. With diversified the de-yuppification of America portfolio positions, their losses » itself. _ — should be minimal. Large institutions like the Ford For a moment, let us consider Foundation have had minimal losses events of the 20's. The bull considering.
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