How blase was the Washington Post over the crash in ’29?

 

BlackTuesdayCloseup-800x656
via Wonkblog

Category: Markets

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

7 Responses to “1929 Crash”

  1. bizprof says:

    Right below the headline (bottom of pic) “Lost Plane Beats Western Blizzard” would be a quote taken from passenger Barry Ritholtz as he got off: “I’m grateful we made it…How’d the market do today?” :)

    • dfwtexas says:

      The longer you’ve been reading this site the funnier Barry’s 1929 quote is. I’m absolutely sure he would’ve been on that lost plane

  2. courageandmoney says:

    “Stock prices have reached what looks like a permanently high plateau. I do not feel there will be soon if ever a 50 or 60 point break from present levels, such as (bears) have predicted. I expect to see the stock market a good deal higher within a few months.”

  3. S Brennan says:

    US Gross Domestic Product (current dollars)
    The Great Crash, 1929-1933
    in 1929: $103.6 billion
    in 1930: $91.2
    in 1931: $76.5
    in 1932: $58.7
    in 1933: $56.4

    New Deal Recovery and Recession, 1934-39
    in 1934: $66.0 billion
    in 1935: $73.3
    in 1936: $83.8
    in 1937: $91.9
    Social programs trimmed
    in 1938: $86.1
    Social Programs restored
    in 1939: $92.2
    in 1940: $101.4 billion
    in 1941: $126.7
    > Lend-Lease 11 Mar 1941 [~50 Billion]
    > Pearl Harbor 07 Dec 1941
    in 1942: $161.9
    in 1943: $198.6
    in 1944: $219.8
    in 1945: $223.1

    FDR’s policies, not WWII got recovery under way.

    For the record, budget austarians opposed Lend-Lease.
    The US Army was ranked 17th in Sep of 1939.
    Mobilization only works if you own the means of production.
    Today we have a strong military
    But our industrial capacity is uncertain because…
    We have “efficiently” placed it overseas within the grasp of our potential rivals.

    • 873450 says:

      Obama’s tragic failure is that he could’a been a contender.

      It would be manifestly unfair to hold out FDR as a measuring stick against all but a very few U.S. presidents. But for POTUS Obama an FDR comparison is appropriate and damning. Both inherited multiple crisis that could only be resolved via extraordinary government intervention. Simultaneously, the same multiple crisis provided both with extraordinary opportunities to permanently establish, secure and advance the best interests and quality of life for all present and future Americans. FDR swung for the fences hitting grand slam home runs. Other than his one walk, one bunt sacrifice and one run scored on a fielding error, Obama strikes out stranding runners on base or even worse, refuses to step up to the plate.

      On the other hand, GOP deserves full credit/blame for 80-year consistency enriching 1% by disregarding and imposing austerity on 99%.

  4. Petey Wheatstraw says:

    Things have never been better . . .

    . . . aaaaaaaccccckkkkkkkk! . . .
    ___________________

    “Market is held not to be a major barometer of economic situation.”

    Check.

    “Country’s basic buying power is declared to be unimpaired.”

    Uh . . .

    “Bright future seen by 98 business men”

    98 appears to be all they could find — otherwise, it should have been an even 100. I wonder how many of those 98 ended up busted.

    More of the same:

    http://www.businessinsider.com/stock-market-crash-of-1929-2011-11?op=1