Global financial crisis

Almost 10 years after Black Monday, October 19, 1987, Wall Street experienced its largest one-day decline since 1987 on Friday, August 15, 1997. The symptoms were similar to those of Black Monday. In the weeks that followed, however, business forecasters and academic economists alike have casually disregarded the dangers, alluding to 'strong economic fundamentals'. The realities are concealed, economic statistics are manipulated and economic concepts are turned upside down, when actually the stock market frenzy has taken place against a background of global economic decline and social dislocation.