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Scanned Using Book Scancenter 5131 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. Some problems may market (rising stock prices) had occur with Individual Retirement gone on for almost a decade; all Accounts (IRAs), and pension funds, were convinced that the market but analysts believe that, on the would continue to rise. It had whole, these should be safe. It is proven itself the best investment really the speculative investor who in the world to buy stock. So has lost this time. successful were those who owned stock, that enormous quantities of ' cent. P6 ■ stock were bought on margin (on credit). Everyone from the street- “Mil: a review of § sweeper to the local millionaires had a significant steak in the Bryan Ferry’s latest i| market. Eventually, people had borrowed all the money they could ialburn! Also, an li get on margin, and could no longer buy stock; everyone had bought as ijopinion offered on the I much stock as they could. In that rsport" of hacky-sack I situation, when a few people sell out to, say, pay a dentist bill, the price comes down. But the thing everyone used as collateral for their margin loans was the stock itself; when the price of that stock falls, the broker asks for more collateral or it will be forced to sell off the stock to pay the loan. But no one had anything more to put up. The stocks were sold. All at once. Crash. Millions of people lost everything they had in this world. Millionaires were made paupers overnight. Businesses failed for lack of capital. People were left with no work. Depression ensued. But the crash of '87 is nothing like that, praised be the prime mover. Most people today are not at all invested in the stock market. Margin buying on the scale of the 20's is simply no longer done. Businesses are not failing. Stock brokers are not jumping out of the windows of Wall Street. Letters to the editor \ Dear Sir, students present in saying that It has come to mv attention they were behind this artistic that the the factions in charge and sensitive student 100 of our "school" have once again percent. The guard clearly did begun to assert - their not know how to react now that he administrative choke-hold on the had been confronted with the knowledge thirsty members of our blatant, ridiculous nature of his scholastic c ommu nit y. A prime assertations. He showed the kind example of this recurring of surprise that power-mad oppression occurred last authority figures always show Wednesday in the coffee shop, A when confronted with the truth. certain student was exercising He just kept insisting, in his freedom of expression, a desperation, that the chairs were right, I might add, granted us for sitting and were dangerous by the Constitution of this great balanced in stacks five chairs land of ours, by balancing chairs high. So then the student wisely in what I think were quite informed the guard of the legal attractive patterns. After a action that he would take against productive and expressive session the guards and the school should of chair balancing, one that this repression of his artistic involved every chair in the self continue. This school would coffee shop in this artistic be a better place if all students endeavor, this student was expressed themselves with such blatantly accosted by one of the beauty. guards. This guard claimed that the chairs were not intended to Another such incident be used as art but were instead occurred when a student was meant to be used solely for- unobtrusively eating a three foot sitting. Nell, what a limited submarine sandwich in the view of the world this man had, cafeteria while enjoying a beer thinking that a chair was mono­ to wash it down. Just then he was functional. This student did not confronted by the fascist know whether to be offended at cafeteria police. They claimed his affronting manner or sorrouted that beer was not to be consumed by his 1ack of inspiration. Ne11 , within the school buildings or on the student politely replied, the school grounds. The student "Hey buddy, ever hear of then informed his antagonist that inalienable rights. I got em, and the school is not a country, if I want to use every chair in given the power to create its own here, I wi11." The poor guard was 1 aws. An y per son or in s tit u tion so shocked by this student's self attempting to establish its own will he knew not how to replv-> set of 1aws within this coun t r y except with the *'^oisi~ wti'l 1---be -Bobjetrf—~i:ro~ immediate rationalization, "Nell, where are legal action. The people have the other students supposed to spoken. sit?" To which the student incitefully said, "People have Sal 1 arriander died for art, is it too much to (with two 1 ^ s) ask them to stand up for it?" I was there and I feel safe in speaking for the rest of the ( " Dear Editor: MOON Su wiiij'ji; ruiiiiiriy tfie paper? is John Winston TobH BarJoip? Are ijou? fire the tuio Dave johnsion 0ififiser of gou iporking together? I don't Dave Marquez ItfitG*'' cucn knoip ipho I'm uirfting to. fom l.ijparello fmefr/tJc Please eepiain. “ confused rHilOHlAi HOARD Ea. Toby Eariow did put out the Scott Baiter. Maixwcii Cassidy, Stevej lirsi issue of The Moon this year, Hkler, Debbie Fieig, Bill ‘ Hogan.j ^'iiiCh i had fJOthing to do with. J put Catherine Macmtosh.Danilo Marrone. out this, the second issue, and Toby iMafrsrobie Cohn/,mk BarlcjT?,^ had nothing to do with this. I ntvsei! ant not sure what will happen in the luture- li^e may trade off every ocher issue we may ronsoiidaie and 2 work together, i don i know what will happen rfv.i.sii I iMtti* ii»V/iyi!iiS<0 il il^y H-sackers are never sated.J \^j\j d uiiba iki£i*^inju u y They are proud of their ski)}, as well they should be. they have acquirct By Tom Luparello ©F technique and stamina m batting ball around with their inner solcsj It is invigorating a release'- f| quote one more visible sack er onl Bele Noire campus t hig .sack on V.ampiis-I a new album by Bryan Ferry J mav have one of those hard B.S.O.C! I am weii aw'are of ail these canvas bails thrown at my chest for things. guys Very good) touching this one, but an observance rationaliZatioris, Aiii t it iiicc hc*w St.j niusi he slated; Johns has taught u.s to justify For those of you who are not everything w^c need to? Tell me you familiar with Mr. Ferry he is most It masturbation were publicly notably the former lead sinoer of w^ouidn t much rather the time sKii! Roxy Music. He also was one of the acceptabie.hacky-sack would release, sunn'' afterno<?ns be spent* few performers to be invited to never have been invented honing a dittcrent skill Piciiire ii Chuck and Di's wedding. Although ail those sacks gone. You re at a loss this is his first album since the Everv vja\ every spare minute. release of "Boys and Girls" in June Your mind immediately reminds you I of 19S5, he has released a few Breakfast, lunchtime, dinner. Before of your well-hidden genitals. Maybe singles. These were the songs “Help seminar Weekends, AfternTOns. the inventor of the sack was Me" and "Is Your Love Strong You can take it with you. You can Enough?", however, unless you are a arrested one too many a time in a fan, you probably only heard these set It on the classroom or dining public park on a Sunday afiernixm- songs if you decided to sit through room table and no one wnU scream. Damn, better find something else to the credits of The Fly or Legend.
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