Notes From PBS special “The Great Crash Of 1929”

Notes and thoughts from PBS special, “The Great Crash Of 1929”

  • You could buy stock on credit, before.
  • Prices on the stock market were mostly just because of demand, not because of profits or performance, etc.
  • Groups of investors would scheme to buy stocks, drive up the price and then sell for major profit.
  • Newspaper reporters were paid off to help purport the lies.
  • Stock Market could be manipulated by even the lowest workers on the totem poll (such as ticker operators).
  • Roger Babson, an economist, criticized the stock market.
  • JP Morgan followed the advice of an astrologer.
  • Mr William Durant, founded General Motors. Heavy in the stock market. Was claimed to be worth 2 Billion in the 1920’s, what is that the equivalent of trillions now? Per . What cost $2,000,000,000 in 1929 would cost $25,216,569,635.11 in 2010.
  • There was a break in the stock market before the big crash in 1929.
  • Al Capone even declared that Wall Street people were crooked. It takes one to know one they say right? Why did people not listen?
  • “Confidence, not halfway confidence but 100% confidence is the real basis for our prosperity” – William Durant
  • The Charlie Mitchell’s, and JP Morgan’s were continuing to praise the stock market and speak optimistically 5 days before the great stock market crash of 1929. With this example amongst others, we should have learned that rich people are very un-trustworthy.
  • The stock market was bailed out multiple times before the big crash.
  • One guy says it takes about 30 years for a new breed of “suckers” to delude themselves into believing they can make it rich on the stock market.

Please leave your thoughts. Sometimes the only way one can find the truth is to examine all possibilities.

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