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A Slowdown
A repeated slowdown of economic growth persisted for most of 1986, with 8 monthly declines in real gross domestic product (GDP) during the year.
https://www150.statcan.gc.ca/n1/pub/11-010-x/2010012/part-partie3-eng.htm -
Tax Reform
This act changed the tax benefits of securities and financial transactions and eliminated many tax shelters. This act also lowered the top tax rate for regular incomes from 50% to 28% and raised the bottom tax rate from 11% to 15%
https://www.sechistorical.org/museum/timeline/1980-timeline.php -
GDP Rose
GDP rose only 0.2% over the 4 quarters of 1986. This led to almost no employment growth, although jobs fell outright in only one month in 1986.
https://www150.statcan.gc.ca/n1/pub/11-010-x/2010012/part-partie3-eng.htm -
The Days Before the Crash
Some fast-approaching warning signs for investors were apparent in the trading days just prior to what would turn out to be Black Monday. On October 14, the Dow experienced a major decline of nearly 4%. It dropped another 2.5% the following day.
https://corporatefinanceinstitute.com/resources/equities/black-monday/ -
The Stock Market Crash
This day is known as "Black Monday". It was the day that the stock market crashed in the US and the market fell below 20% in one day. It was said that the cause of this crash was program-driven trading models that followed a portfolio insurance strategy, in collaboration with investor panic
https://www.investopedia.com/ask/answers/042115/what-caused-black-monday-stock-market-crash-1987.asp -
Debit Cards
Debit cards were invented around 1982 however, it wasn't until 1988 that they were first tested. In 1988 debit cards were finally being put into use. In 1988, London, Ontario, was the testing ground for the debit card. "When you use a debit card, the money is instantaneously electronically whisked out of your bank account into the store's," explained Paul Griffin on CBC's The Journal on Oct. 19, 1988.
https://www.cbc.ca/archives/from-1988-debit-card-could-change-the-way-we-spend-money-1.4868128 -
Eurocom Opened
In 1981 Eurocom opened. Eurocom is a Canadian computer development company.
https://en.wikipedia.org/wiki/Category:Canadian_companies_established_in_1989 -
The Canadian Space Agency
The Canadian Space Agency is the national space agency of Canada, established in 1989 by the Canadian Space Agency Act. The president is Lisa Campbell, who took the position on September 3, 2020. The agency is responsible to the minister of innovation, science, and industry.
https://www.britannica.com/topic/Canadian-Space-Agency -
After the Crash
By September 1989, a little less than two years later, the stock market had made back almost all of its losses and resumed a strong market that would last for another decade, taking the Dow above the 10,000 level before the end of 1999.
https://www.investopedia.com/ask/answers/042115/what-caused-black-monday-stock-market-crash-1987.asp -
Telus Opened
Telus and Telus Communications officially opened in 1990 in Edmonton, Alberta
https://en.wikipedia.org/wiki/Category:Canadian_companies_established_in_1990