Loading ...parts:
“The optimism and the financial gains of the great bull market were shaken after a well-publicized early September prediction from financial expert Roger Babson that “a crash is coming, and it may be terrific”.[7] The initial September decline was thus called the “Babson Break” in the press. That was the start of the Great Crash, but until the severe phase of the crash in October, many investors regarded the September “Babson Break” as a “healthy correction” and buying opportunity. ”
“”Background:
The “Roaring Twenties“, the decade following World War I that led to the crash,[2] was a time of wealth and excess. Building on post-war optimism, rural Americans migrated to the cities in vast numbers throughout the decade with the hopes of finding a more prosperous life in the ever-growing expansion of America’s industrial sector.[3] While American cities prospered, however, the overproduction of agricultural produce created widespread financial despair among American farmers throughout the decade,[3] which was later blamed as one of the key factors that led to the 1929 stock market crash.””
Comment:
I didn’t bother reading this whole thing, I just wanted to check and see if the authors were biased or not to the truth. Or just dumb. The paragraph above is clear, the story accidently or purposely left out the real reasons that led the 1929 crash. Plus the boneheads blamed protectionism for making the crash worse. There is a lot more to this from before 1913 but.
The Federal Reserve (private special interest global entity) was created in 1913 (so USA can finance wars) and expanded the fake money supply with loans to do so, for WW I in 1917 and resulting roaring twenties. (funny we had the roaring ’20 again)
Like using too much sealant, (fake money) some of it (money) squashes into other areas and artificially jacks up prices. (stocks commodities etc) aka malinvestments. Some people that study economics or the financial system claim the USA was technically at that point actually a bankrupted country.
The Banks took in all the USA gold bullion, real money and gold backed certificates in 1934 at $19 and raised the gold price to $34 a 70%? devaluation of US Dollar, to inverse falling prices higher to stop deflation, (costs too low like oil today?) and prepare for excess money creation for WW II a few years later.
WW II was NOT what took the country out of depression. (widely held opinion) It was the banning and confiscation of Gold in ’34 to accommodate or allow a ’41 WW II. (which trimmed the herd)
Wouldn’t it be ironic if this flu led to another big natural herd trimming?? Prosperity would follow like after WWII. Job and business opportunities left behind by the departed? Excessive housing? Lower prices?