Hits that you might recognize from this week:
George Michael: Monkey
Guns n Roses: Sweet Child o' Mine
INXS: New Sensation
Chubby Checker and the Fat Boys: The Twist
Cheap Trick: The Flame
Michael Jackson: Another Part of Me
Jane Wiedlin: Rush Hour
Elton John: I Don't Want to go on With You Like That
Whitney Houston: Love Will Save the Day
Tracy Chapman: Fast Car
The Contours: Do You Love Me?
Gloria Estefan and Miami Sound Machine: 1-2-3
Terence Trent D'arby: Sign Your Name
Quite a flashback. Of course, viewing the past through the lens of a review of hits necessarily catches people on their way up the pop chart, before they've had a chance to crash and burn, so the worst you'll hear is that this week, when Whitney Houston is celebrating her 25th birthday, her song slipped 10 places. I'm sure she'll be just fine, and she won't turn into the butt of jokes on MadTV ten years from now.
Another random piece of trivia that I turned up as I was poking around for more information about this: I'm actually listening to Casey Kasem's last episode of AT40 in this incarnation. Contract disputes caused him to walk, and Shadoe Stevens took over past this point. That's, like, important. Or something.
More information on Wikipedia, of course: http://en.wikipedia.org/wiki/American_Top_40
ETA: I had been grumbling to myself that I couldn't find the Billboard listing for that week, but here's the playlist anyway: http://www.rockonthenet.com/archive/1988/08-06.htm