1988 The Hubble Space Telescope Goes into operation
to explore deep space and is still in full use today mapping our universe.
A bomb is exploded on Pan Am Flight 103 over Lockerbie in Scotland. Also
Prozac is sold for the first time as an anti-depressant some of the great
movies that year included Rain Man, Die Hard and A Fish Called Wanda
Cost of Living 1988
How Much things cost in 1988
Yearly Inflation Rate USA 4.08%
Year End Close Dow Jones Industrial Average 2168
Interest Rates Year End Federal Reserve 10.50%
Average Cost of new house $91,600.00
Average Income per year $24,450.00
Average Monthly Rent $420.00
Average Price for new car $10,400.00
1 gallon of gas 91 cents
Movie Ticket $3.50
US Postage Stamp 24 cents
Dozen Eggs 65 cents
What Events Happened in 1988
- After 8 years
and 1.5 million dead the Iran -- Iraq war ends
- Iraq carries out Poison Gas Attack On Kurds
- Earthquake in Armenia Kills 60,000
- Suspected Libyan terrorist bomb explodes on
Pan Am jet over Lockerbie in Scotland killing all 259 on board
and 11 on the ground
- Australia celebrates its bicentennial.
- A new drug Crack appears ( A derivative
of Cocaine ) and is increasingly found in US Cities
- UK SAS kill suspected IRA bombers in
- The English Pound Note ceases to be
- Salmonella is found in Eggs in Britain
causing problems for British Farmers
- Laws restricting opening times for UK Pubs
are changed allowing Pubs to stay open all day
- 34 people die in the Clapham Rail Crash
- Widespread strikes in Poland by Solidarity
- Archaeologists uncover the original Globe
Theater in London
- Soviet Red Army withdraws from Afghanistan.
- A Soviet Union School Bus is Hijacked
- Panama leader General Manual Antonio Noriega,
is charged with drug smuggling and money laundering
- Yasser Arafat is invited to address
the U.N. General Assembly
- Piper Alpha drilling platform in the North
Sea is destroyed by explosions and fires killing 165 oil workers
and 2 rescue mariners.
- The Summer Olympics are held in Seoul,
- The USS Vincennes shoots down Iranian
passenger jet Flight 655
- Prince Charles escapes avalanche in
- The Winter Olympic Games are held in
Calgary, Alberta, Canada
- Hurricane Gilbert devastated
Jamaica, it turns towards Mexico's Yucatan Peninsula two days later
Popular Culture 1988
- Prozac makes its debut in the United States
- Televangelist Jim Bakker Scandal
- The Simpson's seen on TV for the first time
- British Government Stops Publication
in Britain of Spycatcher Book
- Rain Man
- Who Framed Roger Rabbit
- Crocodile Dundee II
- Die Hard
- The Naked Gun: From the Files of Police Squad!
- Dangerous Liaisons
- A Fish Called Wanda
- Friday the 13th Part VII: The New Blood
- Robert Palmer
- Kylie Minogue
- The Beach Boys
- Michael Jackson with " Dirty Diana "
- Gloria Estefan
- Chicago with " Look Away "
- George Michael with " Father Figure "
- Guns N' Roses
- George Harrison
- First transatlantic
fiber optic cable laid able to carry 40,000 telephone calls simultaneously
- Stephen Hawking Publishes " A Brief History
Of Time "
- The first major computer virus infects computers
connected to the Internet.
- The Hubble Space Telescope is put into operation
- The US Stealth Bomber is unveiled
- Using Carbon Dating it is established that
the Turin Shroud Can Not Be the Burial Cloth of Christ
- The Antidepressant Prozac introduced
which quickly became the market leader for treating depression
Inventions Invented by Inventors and Country
(or attributed to First Use)
Research for this year is provided by The People History.
See History By Year and Decade for more prices and information.
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