The Dow Jones continues to hit record highs and yesterday it reached a milestone not seen since January of 1987.
Back then, the band Starship was at the top of the charts with their hit song Nothing’s Gonna Stop Us Now, which appears to also be the rallying cry of Wall Street, Main Street and 1600 Pennsylvania Avenue today.
Of course, for those who are familiar with their history, that year didn’t end up so well for investors. On ‘Black Monday’, October 19th, 1987, the U. S. stock market suffered the largest crash in history with the Dow Jones losing 22.6% in value, amounting to roughly $500 billion in losses by the end of the trading day.
And if the exuberance of 1987 is any guide, we may be looking at a similar set of events over the course of 2017:
The Dow finished with a more than 30 point gain Thursday and hit its tenth record closing high in a row.
But what makes this rally truly historic is the fact that the market is also continuing to hit new highs during this epic run. That hasn’t happened since Ronald Reagan’s second term.
This post was published at shtfplan on February 24th, 2017.
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