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The events in the 1929 crash and the 1987 are incredibly similar. In both time periods, the crash occurred during seemingly economically prosperous times. Unfortunately, bot had to h deal with dramatically increasing stock prices that then started to plummet. However in 1827, there was a brief period of steadying, this period lasting five weeks where the stock only fell 8 percent. Though it could not prevent the eventual drops. Both crashes experienced days of panic selling where unforeseen amounts of stocks were sold. The technology in both times could not keep up with the volume of trading demands and further contributed to the issue. Banks in both times offered to buy stocks above the going prices to prevent further panic to no avail.

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The results of the crashes of 1929 and 1987 were vastly different. The one important similarity is that both crashes affected the markets of other countries. The crash of 1929 head to crashes in London, Tokyo, Paris and Berlin and the crash of 1987 affected the global market. However the devastation that followed was much worse in 1929. The crash of 1929 lead to mass bank failures, decreases in consumerism and investment, and the economy did not reach the peak 1929 levels for another 25 years. In contrast, the crash 1987 resulted in much less economic strife. It only took 2 years of the economy to return to peak 1987 levels and the was only a low lost of money for those invested in stocks. This difference is very critical when comparing the crashes because the following years after the crash were dramatically different. In 1929, there was many legislations to correct the mistakes that lead to the crash such as the the Glass-Steagall Act of 1933 and the Securities Exchange Act of 1934. However the Great Depression was still in effect. In 1987, the was also new regulations enacted as a result of the crash such as the creation of Circuit breakers that automatically halted large trading exchanges if stock prices fall lower than a certain amount.

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The economic crashes of 1929 and 1987 held both similarities and differences as to the causation of the event. The crash of 1929 was focused more primarily on the large amount of people selling their stocks due to the fact that the stock prices were steadily decreasing and didn’t want them to decrease any further. Even before the crash their was obvious signs that pointed towards recession, signs such as, when the numbers of production rates, prices, and individual income decreased. Many of the other people that held stocks started to build a feeling of paranoia as they saw  folks sell their stocks so they followed the same actions as their fellow peers and sold their stocks as well which in turn lead to prices falling. In contrast, the crash of 1987 held a different causation. The major difference involved the way that large investment companies ordered large stock trades. Large investment companies were starting to use computers to order these stock trades automatically but when prices fell, trade orders became the base of the system, causing panic.

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News of the stock market crash of 1987, known as Black Monday, traveled quickly throughout much of the United States and the world. By the morning of Oct. 20, news of the 22% market sell-off and the ensuing panic had manage to work its way onto the front page of just about every major newspaper around the globe.

Many thought the crash was the start of the next Great Depression and the headlines of the day reflect it.

London's papers latched on to the panic as did those in Philadelphia and Los Angeles and the Netherlands. Of course all the major (and not-so-major) New York papers (New York Times Co. ( NYT) and New York Daily News) were in on the action as was Time Inc.'s ( TIME) Time Magazine.

In the event of another crash, we will likely be reminiscing about Facebook ( FB) posts or Tweets ( TWTR) 30 years removed, but from 1987 to 2017 we have the black and white pages of the world's newspapers to look back on.

The "Crash of '87 -- TheStreet Special Report" is a series of stories, videos, graphics and other multimedia elements that look at the stock market crash of 1987, also known as Black Monday. TheStreet examines the cause of the crash, reveals some of the hottest stories of the day, and discovers what could cause a similar crash in the future. How can we prevent another Black Monday? Read more about the Crash of '87.

Crash of '87 - TheStreet Special Report

Originally published Oct. 19.
Founded in 1851, The New York Times has been a stalwart of journalism since its inception. On Oct. 20, 1987, it was no different.

Thought currently headquartered in Midtown Manhattan, The Times was originally located in the financial district and eventually moved to Times Square.

After only eight years at One Times Square, the paper moved its corporate headquarters to 229 W. 43rd St., which served as its home until 2007 when it moved to its current home in the New York Times building.

Known as the first successful tabloid newspaper in the United States, The New York Daily News was founded in 1919 as the Illustrated Daily News by Joseph Medill Patterson and was a subsidiary of the Tribune Co. of Chicago -- now known as Tronc ( TRNC) .

After years of private ownership the paper returned to its home under Tribune, on Sept. 4, 2017, when Tronc agreed to acquire the paper for the token sum of $1 plus assumed pension liabilities.

The San Francisco Chronicle is the largest newspaper in Northern California, according to its website. The newspaper was acquired by Hearst Corp. in 2000. The San Francisco Chronicle was founded in 1865 by Charles and Michael de Young.

Time Magazine weighed in on the Crash of '87 in its Nov. 2, 1987 issue.

On Oct. 12 of this year the Time Inc.'s flagship publication announced an editorial partnership with Reddit.

The New York publisher, in a Form 8-K filing on Sept. 22 with the Securities and Exchange Commission, said it has identified Time Inc. UK Ltd., fulfillment services arm Time Customer Service Inc., a majority stake in Essence and its Coastal Living, Sunset and Golf brands for potential divestiture.

Its flagship title in the U.S. is likely not among those that would be divested.

The Australian was first published by Rupert Murdoch, CEO of 21st Century Fox's ( FOXA) News Corp., on July 15, 1964.

The paper is currently based in New South Wales in the town of Surry Hills.

The Times (of London) is one of England's oldest newspapers, having been founded in 1785 as the Daily Universal Register.

According to Encyclopedia Britannica (yes, it is still a thing and seemed fitting as a source for this one), in 1981 Rupert Murdoch's News Corp. acquired the paper through its purchase of Times Newspapers Ltd.

In 2013 News Corp. divided its print and its television businesses into two separate companies.

The voice of Wall Street and the financial world (sorry, FT) the Wall Street Journal was founded in 1889 by Charles H. Dow, of Dow Jones & Co.

The paper is now a subsidiary of News Corp., part of its Dow Jones news business that remains separate from the Fox News television station.

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Top Headlines From the 1987 Stock Market Crash

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News of the stock market crash of 1987, known as Black Monday, traveled quickly throughout much of the United States and the world. By the morning of Oct. 20, news of the 22% market sell-off and the ensuing panic had manage to work its way onto the front page of just about every major newspaper around the globe.

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Citation: C N Trueman "Wall Street Crash of 1929 and its aftermath"
historylearningsite.co.uk. The History Learning Site, 22 May 2015. 12 Apr 2018.

The strength of America's economy in the 1920's came to a sudden end in October 1929 - even if the signs of problems had existed before the Wall Street Crash. Suddenly the 'glamour' of the Jazz Age and gangsters disappeared and America was faced with a major crisis that was to impact countries as far away as Weimar Germany - a nation that had built up her economy on American loans.

The huge wealth that appeared to exist in America in the 1920's was at least partly an illusion.

For example the African Americans and the farmers had not benefited in the Jazz Age but neither had 60% of the whole population as it is estimated that a family needed a basic minimum of $2,000 a year to live (about £440) and 60% of US families earned less than this. Almost certainly some of the 60% included those who had gambled some money on Wall Street and could least afford to lose it in the crash of October '29.

The very rich lost money on Wall Street but they could just about afford it. But the vast bulk could not afford any loss of money. This had a very important economic impact as these people could no longer afford to spend money and therefore did not buy consumer products. Therefore as there was no buying, shops went bust and factories had no reason to employ people who were making products that were not being sold. Therefore unemployment became a major issue. The Great Depression took a while to get going but by the winter of 1932 it was at its worst.
The impact of the Wall Street Crash:
There was no system of benefit for the unemployed. Charities such as the Salvation Army gave out free food and shelter. It is known that some people actually starved to death. In some states men deliberately set fire to forests to get temporary employment as fire fighters while farmers killed their animals as no-one could afford to buy them in the cities despite there being great hunger there.
What did the government do?
The president was a Republican, Herbert Hoover. He believed that if you were in trouble you should help yourself and not expect others to help you. This he called "rugged individualism". Therefore he did not do a great deal to help those out of work.

"It is not the function of the government to relieve individuals of their responsibilities to their neighbours, or to relieve private institutions of their responsibilities to the public." Hoover.

Hoover did not believe that the depression would last - "Prosperity is just around the corner" is what he said to businessmen in 1932 when things were just about at their worst. Squalid cardboard campsites were created in cities to live in...called "Hoovervilles". The nick-name of the soup given out by charities for the unemployed was "Hoover stew".

However, Hoover did do some good. Money was used to create jobs to build things such as the Hoover Dam. In 1932 he gave $300 million to the states to help the unemployed (Emergency Relief and Reconstruction Act) but it had little impact as states run by the Republicans believed in "rugged individualism" more than Hoover did and they used only $30 million of the money offered to them.

Many saw Hoover's attempts as being "too little too late".

In the November 1932 election, Hoover was heavily defeated by the Democrat candidate. This man had promised the American public a " New Deal". His name was Franklin Delano Roosevelt. Thirteen years of Republican rule had come to an end.

See also:
Causes of the Great Depression America in the 1920s Weimar Republic and the Great Depression The New Deal

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Wall Street Crash of 1929 and its aftermath - History Learning Site

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Wall Street Crash of 1929 and its aftermath The strength of America's economy in the 1920's came to a sudden end in October 1929 - even if the signs of problems had existed before the Wall Street Crash. Suddenly the 'glamour' of the Jazz Age andgangsters disappeared and America was faced with a major crisis ...

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Crash of 1987 and Crash of 1929: A Conclusion

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Crash of 1987 and Crash of 1929: A Conclusion

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In conclusion, both crashes were similar in the events that occurred, from the panic selling to the massive amounts of money lost. However, the reactions of the federal government are what make the two crashes starkly different. While the 1929 crash is one of the contributing factor of the Great Depression that occurred shortly after, the crash of 1987 was quickly recovered and did not cause that level of economic devastation.

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1929 vs 1987: The Role of The Federal Government

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1929 vs 1987: The Role of The Federal Government

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The difference between the Federal government's role in the crash of 1929 and 1987 were night and day. In 1929, the federal government's tightening and decrease of the money supply contributed to the crash. Their lack of action to increase the money supply after the crash caused the furthering decrease in stock prices and collapse of the banking system. In contrast, the Federal government of 1987 was very hands on. They provided the money needed to prevent a banking crisis. They cut key interest rates and provided the money to increase the money in bank reserves. Their actions allowed banks to give loans and support those who lost large amounts in the crash. Unlike the crash of 1929, this allowed the stock prices to recover and people could repay their loans. The federal government's inaction in 1927 contributed to the worsening of the crisis and the future Great Depression.