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1929: Inside the Greatest Crash in Wall Street History
31–40 of 90 posts
Re: 1929: Inside the Greatest Crash in Wall Street History
#32Earlier quoted context omitted.
Because we know of the '29 crash, the next one will always be different. Arguably the GFC was way worse, but way different.
right. And because we know of the crashes of 2022, 2008, 2001, etc. the market is showing a lot more resiliency. Which is good, but it will take longer to have a correction. Which may be bad by itself.
Yes, Trump knows about the crashes of 2022, 2008, 2001, he will make good choices. :)
Re: 1929: Inside the Greatest Crash in Wall Street History
#33Earlier quoted context omitted.
I hope not, my parents were teenagers at the time, my fathers life was terrible back then, he had to join the CCC to survive and to help out his family. He had told me working with the CCC was not a bed of roses and he saw many terrible accidents to some of the workers. But he was glad it existed. Also, back then, I believe people were on average stronger and more resilient people alive today. Having such a crash wil…
You sound like an old curmudgeon. Give me my avocado toast and exotic coffee carefully prepared in a French press and I can supervise other people clearing trails all day long (via Zoom--we're never so desperate as to need unnecessary sun exposure). Of course, I need my rebalancing hours of yoga in the morning and afternoon and personal time to ensure work-life balance.
I loved your post, it made me chuckle.
But you may have misunderstood something I failed to bring across. Most people in in my generation, including me will have just as a bad time as yours should that crash occurs.
The only difference is my generation will only endure it for a much shorter time than yours.
FWIW, I hate everything avocado, but I will miss my bagels with cream cheese and hot chocolate with whole dairy whipped cream on top :)
Re: 1929: Inside the Greatest Crash in Wall Street History
#34We may see it again soon
I hope not, my parents were teenagers at the time, my fathers life was terrible back then, he had to join the CCC to survive and to help out his family. He had told me working with the CCC was not a bed of roses and he saw many terrible accidents to some of the workers. But he was glad it existed. Also, back then, I believe people were on average stronger and more resilient people alive today. Having such a crash wil…
Pardon my ignorance, but what’s CCC?
Re: 1929: Inside the Greatest Crash in Wall Street History
#35When all was said and done the market crashed by 89% and took 25 years to recover to the previous high.
HODL!
Re: 1929: Inside the Greatest Crash in Wall Street History
#36Earlier quoted context omitted.
I hope not, my parents were teenagers at the time, my fathers life was terrible back then, he had to join the CCC to survive and to help out his family. He had told me working with the CCC was not a bed of roses and he saw many terrible accidents to some of the workers. But he was glad it existed. Also, back then, I believe people were on average stronger and more resilient people alive today. Having such a crash wil…
Pardon my ignorance, but what’s CCC?
That's a fun one because none of three Cs listed on Wikipedia stand out to me.
Re: 1929: Inside the Greatest Crash in Wall Street History
#37Earlier quoted context omitted.
Pardon my ignorance, but what’s CCC?
That's a fun one because none of three Cs listed on Wikipedia stand out to me. https://en.wikipedia.org/wiki/CCC?#Politics
Re: 1929: Inside the Greatest Crash in Wall Street History
#38Earlier quoted context omitted.
I hope not, my parents were teenagers at the time, my fathers life was terrible back then, he had to join the CCC to survive and to help out his family. He had told me working with the CCC was not a bed of roses and he saw many terrible accidents to some of the workers. But he was glad it existed. Also, back then, I believe people were on average stronger and more resilient people alive today. Having such a crash wil…
“ I believe people were on average stronger and more resilient people alive today” People step up very quickly once they have to face a difficult situation. A while ago I talked to Ukrainian about their war. He said some years ago he couldn’t have imagined living in a war zone but once it gets started you get used very quickly to drones flying over you, buildings in your town bring blown up, losing power for days, hi…
Some do, others sit down and cry until they die. Read “Deep Survival “ to get inside the heads of people going through severe hardship.
Re: 1929: Inside the Greatest Crash in Wall Street History
#39It is a pretty good book, but when I got, I personally hoped for more finance in it. A large fraction of the book is devoted to people.
Re: 1929: Inside the Greatest Crash in Wall Street History
#40Earlier quoted context omitted.
I hope not, my parents were teenagers at the time, my fathers life was terrible back then, he had to join the CCC to survive and to help out his family. He had told me working with the CCC was not a bed of roses and he saw many terrible accidents to some of the workers. But he was glad it existed. Also, back then, I believe people were on average stronger and more resilient people alive today. Having such a crash wil…
“ I believe people were on average stronger and more resilient people alive today” People step up very quickly once they have to face a difficult situation. A while ago I talked to Ukrainian about their war. He said some years ago he couldn’t have imagined living in a war zone but once it gets started you get used very quickly to drones flying over you, buildings in your town bring blown up, losing power for days, hi…
> People step up very quickly once they have to face a difficult situation.
You have to have people that can step up: at least in the US, I do not see evidence of that. Not in the White House, not at the SEC, not in Treasury and Commerce.
The most recent cataclysmic event (GFC/2008) at least had smart people around: Bernanke happened to be in charge and he was once of the foremost experts in the Great Depression. Paulson also had notable experience before Treasury. Who do we have now?