History repeating itself?

User Forum Topic
Submitted by threadkiller on March 26, 2008 - 3:30am

Demand for many goods and services slowed in the late 20s, which reduced corporate profits. Investors became nervous and began to sell their stock decreasing the prices of many stocks. Since many had bought the stock on credit, they could not pay back those loans because the stocks were now worth less than the loans. As prices plummeted and they lost their savings, many banks that had loaned them the money to buy stock failed. Their customers lost all the deposits they had in those banks. Between Nov. and Dec. of 1929, $30 billion was lost to the whole economy for spending, savings, and taxes---

Just replace the word stock with house!

‹ Business data point in Temecula OT: Pfizer gives away free Viagra for the unemployed ›
"The end of the decline of
Submitted by 4plexowner on March 26, 2008 - 5:32am.

"The end of the decline of the Stock Market will probably not be long, only a few more days at most."
- Irving Fisher, Professor of Economics at Yale University, November 14, 1929

"...there are indications that the severest phase of the recession is over..."
- Harvard Economic Society (HES) Jan 18, 1930

"... the outlook continues favorable..."
- HES Mar 29, 1930

"... the outlook is favorable..."
- HES Apr 19, 1930

"...by May or June the spring recovery forecast in our letters of last December and November should clearly be apparent..."
- HES May 17, 1930

"... irregular and conflicting movements of business should soon give way to a sustained recovery..."
- HES June 28, 1930

"... the present depression has about spent its force..."
- HES, Aug 30, 1930

"We are now near the end of the declining phase of the depression."
- HES Nov 15, 1930

"Stabilization at [present] levels is clearly possible."
- HES Oct 31, 1931

Its a known fact that the
Submitted by Alex_angel on March 26, 2008 - 6:25am.

Its a known fact that the great depression was orchestrated by the big money makers. Freaking Rockefeller sold off all of his assets right before and then these rich bastards bought everything back on pennies for the dollar.

But Bush and his crew would never do that to the American people would they?

You are right, history is repeating itself. The richest 1% are f*cking us all over and will be more rich when this is done.

Hush... We all need to
Submitted by Arraya on March 26, 2008 - 12:07pm.

Hush... We all need to pretend like it's different.

The DOW was @ 12,422 on this
Submitted by threadkiller on May 14, 2009 - 9:05pm.

The DOW was @ 12,422 on this day, I guess those were the good ole' days.

Alex_angel wrote:But Bush and
Submitted by Bob on May 14, 2009 - 9:33pm.

Alex_angel wrote:
But Bush and his crew would never do that to the American people would they?

The Federal Reserve had the ability to control the bubble from inflating, yet didn't. And guess who was part of that crew ? Many of the same guys who are on Obama's crew, ie, Bernanke and Geithner.

Until the federal reserve is regulated, or better yet, eliminated, the US economy will continue to experience boom and bust cycles.

The way this economic
Submitted by peterb on May 15, 2009 - 8:53am.

The way this economic contraction is evolving is very close to all classic credit contraction driven recessions. Therefore, a true bottom probably will not happen until 40 to 50 months from the begining of the contraction. Beware, as this one looks worse than all previous contractions. It could be longer and deeper.