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Cost of Living 1987
| How Much things cost in 1987 |
Yearly Inflation Rate USA3.66%
Year End Close Dow Jones Industrial Average 1938
Interest Rates Year End Federal Reserve 8.75%
Average Cost of new house $92,000
Median Price Of and Existing Home $85,500
Average Income per year $24,350.00
Private 1st Class Army Per Year $9.385.20
Average Monthly Rent $395.00
Average Price for new car $10,3055.00
1 gallon of gas 89 cents
1 LB of Bacon $1.80
US Postage Stamp 24 cents
Dozen Eggs 65 cents
Below are some Prices for UK guides in Pounds Sterling
Average House Price 44,040
Gallon of Petrol 1.89
Yearly Inflation Rate UK 4.2%
Interest Rates Year End Bank of England 8.38%
Top Selling US Autos and Prices 1987Ford Escort $6,895
Ford Taurus $11,808
Honda Accord $10,925
Chevrolet Cavalier $7,395
Chevrolet Celebrity $11,010
Oldsombile Ciera $11,420
Nissan Sentra $6,449
Ford Tempo $9,056
Chevrolet Corsica / Berreta $9,955
Pontiac Grand AM $10,269
Toyota Camry $11,248
Chevrolet Caprice $12,510
Honda Civic $6,195
Ford Mustang $9,209
What Events Happened in 1987U.S.
- US Stock Market Crashes on Monday, October 19th , 1987 with a 508 point drop or 22.6%
- Stockmarkets around the world follow with falls, by the end of October Australia had fallen 41.8%, Canada 22.5%, Hong Kong 45.8%, and the United Kingdom 26.4%.
- King's Cross fire was an underground fire in Kings Cross Tube Station in London on on November 18th, 1987, which killed 31 people
- The First Case in an American court ruling on the validity of Surrogacy is declared by a New Jersey court over custody rights of "Baby M" re a surrogacy agreement with Mary Beth Whitehead
1. 1985 William Stern and his wife, Elizabeth Stern, entered into a surrogacy agreement with Mary Beth Whitehead Paying $10,000
2. 1986 on March 27th Mary Beth Whitehead gives birth to a daughter whom she named Sara Elizabeth Whitehead
3. Mary Beth Whitehead leaves New Jersey with her daughter
4. The Sterns have the Whitehead family's bank accounts frozen and sought warrants for their arrest.
5. 1987, New Jersey Superior Court Judge Harvey R. Sorkow formally validated the surrogacy contract and awarded custody of Baby M to the Sterns under a "best interest of the child analysis".
6. 1988 Supreme Court of New Jersey, led by Chief Justice Robert Wilentz, invalidated surrogacy contracts as against public policy but in dicta affirmed the trial court's use of a "best interest of the child" analysis and remanded the case to family court. On remand, the lower court awarded Stern custody and Whitehead visitation rights.
Current Laws and Regulations this is different in each state, in many states surrogacy contracts are considered unenforceable because of existing adoption laws designed to discourage "baby selling." They may also make it illegal for a birth mother to receive payment for consenting to give up a child or for an intermediary or Broker to receive a fee for arranging an adoption. But in other States California for example the California Supreme Court issued a landmark ruling declaring surrogacy contracts legal in California
- The USS Stark a Frigate is attacked on May 17th by an Iraq Air to Sea missile Which is "an Accident" and 37 US Sailors are killed
- Square releases the first "Final Fantasy" video game for the NES in Japan.
The very first Final Fantasy video game is released by Square in Japan during December of 1987. The game was designed for the original Nintendo Entertainment System and was considered a critical and commercial success. It was reported to have sold about 400,000 copies during its original release and went on to sell nearly 2 million more copies worldwide in subsequent releases. The Final Fantasy games were developed into a well-loved series of video games, spawning several follow-up games, various merchandise, soundtracks, and even films.
- The US Population Estimated at 244.6 Million
- Terry Waite, the special envoy of the Archbishop of Canterbury in Lebanon, is kidnapped in Beirut
1. 1980 Terry Waite appointed Archbishop of Canterbury Special Envoy to help with hostage negotiations
2. 1980 Terry Waite successfully negotiates the release of several hostages in Iran
3. 1984 Terry Waite successfully negotiates the release of several hostages in Libya
4. 1985 Terry Waite assisted in successful negotiations in Lebanon
5. 1987 on January 12th arrives in Beirut with the intention of negotiating for release of hostages held by the Islamic Jihad Organization
6. January 20th while attending a meeting for hostage negotiations he is taken hostage
7. He is held in captivity for 1,763 days ( Just under 5 years , 4 years of that in solitary confinement )
8. 1991 November 18th is released
Terry Waite was one of many hostages taken and released in the 1980's others included David S. Dodge ( Held for 12 Months ) Benjamin Weir ( Held for 16 months ) Charles Glass ( Escaped after 62 days ) and the longest held hostage Terry A. Anderson ( Held for more then 5 1/2 years ), many other hostages were killed or held during the period.
- The Disney corporation and France agree to create an amusement park.
1. The CEO of Disney, Michael Eisner, and Prime Minister of France, Jacques Chirac, made a deal to create a European Disney-themed resort during March of 1987.
2. In the deal it was agreed that Disney could develop a 4,800 acre resort in Marne-la-Vallée near Paris, France to be called “Euro Disney Resort.”
3. Currently known as “Disneyland Paris” the resort and theme park opened in 1992.
4. Disneyland Paris was not as popular initially as it was expected to be and went through periods of financial instability but proved to be beneficial for tourism in France and job creation in the long run.
- The World's Population reaches approx five billion (5,000,000,000)
- Supernova is observed, the first "naked-eye" supernova since 1604.
- A cross-channel ferry capsizes outside the harbour off Zeebrugge, Belgium killing 193 passengers and crew
1. On March 6th During Loading Bow ballast tanks filled to allow roll on roll off ramp to reach E deck
2. 18:05 (GMT) Leaves Zeebrugger dock ( Bow ballast tanks should have been emptied prior to leaving dock but were not )
3. Due to human error the bow doors were not closed and due to ships design Captain could not see that bow doors were open.
4. Ferry reaches cruising speed ( 18.9 knots ) shortly after leaving harbour and water pours in through open bow doors
5. Within 90 seconds ship capsizes due to instability with water sloshing around on deck.
Following a full Investigation and inquiry, findings included human error by multiple parties, ship design failings including no way for the captain to know bow doors were not closed combined with poor working practices including communication and stand-off relationship of Townsend Thoresen caused the disaster, the ship had a crew of 80 and carrying 459 passengers and if the ship had capsized in deeper water the resulting deaths would have been much much worse.
- Margaret Thatcher is elected as Prime Minister of the United Kingdom for the third time
- Fox Broadcasting Co. made its prime-time TV debut
- Tamil Tigers plant a massive bomb in the Sri Lankan capital, Colombo killing more than 100
- In the United Kingdom, Michael Robert Ryan kills 16 People in Hungerford with an assault rifle and then commits suicide
- Hurricane force winds hit much of the South of England killing 23 people
1. October 15th 6.00 PM Strong Winds begin striking south coast
2. October 15th 10.35 PM gale force 10 winds ( 55–63 mph ) are felt
3. on October 16th During Early Morning 1.00 AM to 4.00 AM winds approaching 120 mph gusts strike the south coast from Cornwall to Kent
4. The storm caused substantial damage over much of England, bringing down an estimated 15 million trees
5. Six of the seven famous oak trees in Sevenoaks are bought down
6. Due mostly to trees falling on power lines between 1/4 and 1/2 million people were left without power
7. Damage to property ranged from windows blown out to roofs being taken out and damage costs were estimated at £7.3 billion with 23 deaths.
Note From Webmaster "I lived in the Portsmouth area of Southern England during 1987 and can remember the night and following day with amazing clarity over 20 years later on the night of October 15th I was at a company meeting and drove home some 50 miles at about 11:00 PM with trees falling behind and in front of me as I drove a pretty scary experience, the following day October 16th I was scheduled for a days holiday to take some exams but my phone started ringing from 5.00 AM with customers who had lost major computer systems due to storm damage taking out windows etc. and I spent most of the day securing customers data and systems. " This is the worst storm to have struck the UK in more than 200 years and could have resulted in many more fatalities.
- An IRA Bomb is let off at Rememberence Day Service in Eniskillin Northern Ireland
- Alan Greenspan succeeds Paul Volcker as chairman of the Federal Reserve Board
- The Nazi war criminal Klaus Barbie / Butcher of Lyon found guilty of crimes against humanity
- British Airways Merges With British Caledonian to compete with large US Airlines
- Sikh terrorist attacks Hindu bus passengers in India leaving 72 dead
- A rare earthquake 5.0 on the Richter scale on June 11th affects 14 states in the Midwest and parts of Canada
- Supertyphoon Nina strikes the Philippines submerging 14 fishing villages on the Philippine coast under water leaving 1,000 dead
- Docklands Airport Opens in London
- Manilla Philippines Ferry Accident resulting in 4,000 dead
- The Food and Drug Administration approves anti-AIDS drug AZT.
- The First Criminal convicted using DNA Evidence Robert Melias in England
- Work on the Channel Tunnel joining UK and France begins
- Clive Sinclair launches the Z88 Portable Computer weighing under 2 LBS
- 1987 is shortened by 1 second to adjust to the Gregorian calender
- Disposable Contact Lenses became available for commercial distribution
Inventions Invented by Inventors and Country ( or attributed to First Use )
Kitty Litter USA by Edward H Lowe
1987 Mens and Womens Fashion ClothesPart of our Collection of Clothing From The1980's
1987 Childrens ToysPart of our toy collection From The1980's
Popular Culture 1987
- Prozac makes its debut in the United States
- Televangelist Jim Bakker Scandal
- The Simpsons seen on TV for the first time
- British Government Stops Publication in Britain of Spycatcher Book
- Search for Nessie reveals no evidence after 1.6 million dollar investment
- Three Men and a Baby
- Fatal Attraction
- Beverly Hills Cop II
- Good Morning, Vietnam
- The Untouchables
- Lethal Weapon
- The Witches of Eastwick
- The Last Emperor
- Wall Street
- Dirty Dancing
- Michael Jackson with " BAD " Album and a Single
- Lionel Richie "Do It to Me"
- Fleetwood Mac "Tango in the Night" Album
- Peter Gabriel
- Janet Jackson "Let's Wait Awhile" Single
- Heart "Alone" Single
- Whitney Houston "Whitney" Album / "I Wanna Dance with Somebody (Who Loves Me)" Single
- Bruce Hornsby with The Range ""Mandolin Rain" Single
- George Michael " Faith " Album and Single
- Bryan Adams "Into the Fire" Album
- Los Lobos ""La Bamba" Single
- Bananarama "Love in the First Degree" Single
- U2 "The Joshua Tree" Album and " With or Without You " Single
Born This YearHillary Duff September 28th
Major World Political Leaders 1987Australia Prime Minister Bob Hawke Brazil President José Sarney Canada Prime Minister Brian Mulroney
China Chairman of the People's Republic of China Li Xiannian
France President François Mitterrand
Germany Chancellor Helmut Kohl
India Prime Minister Rajiv Gandhi
Italy Prime Minister Bettino Craxi Till 17 April
Italy Prime Minister Amintore Fanfani From 17 April
Italy Prime Minister Amintore Fanfani Till 28 July
Italy Prime Minister Giovanni Goria From 28 July
Japan Prime Minister Yasuhiro Nakasone Till 6 November
Japan Prime Minister Noboru Takeshita From 6 November
Mexico President Miguel de la Madrid Russia / Soviet Union
General Secretary of the CPSU Mikhail Gorbachev South Africa State President Pieter Willem Botha United States President Ronald Reagan United Kingdom Prime Minister Margaret Thatcher
Political Elections 1987
British General Election 1987 Margaret Thatcher ( Conservative ) defeats Neil Kinnock ( Labour ) and David Steel ( Liberal ) and David Owen (SDP)