Tuesday, Apr 14, 2009
Does anyone of this timelime mirror the 90's 2000's?? Comments please!!!
Hyperhistory: TIMELINES OF THE GREAT DEPRESSION
Over the decade, about 1,200 mergers will swallow up more than 6,000 previously independent companies; by 1929, only 200 corporations will control over half of all American industry.
Posted by mark @ 09:49 AM (768 views) Add Comment
4 Comments
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1. mark said...
the bit i like is this :
1937 Economists attribute economic growth so far to heavy government spending that is somewhat deficit
(so in reality the economy was not growing hence why the following year in plunges into recession)
It appears the only thing that stopped the depression was WAR!
2. The Number Cruncher said...
Great artical
The great myth that is pervasive in our western societry is that high taxes reduce economic activity. The reverse is true, redistribution of wealth and assests are more likley to result in thier liquidation and flow to more productive economic activities. The concentration of weath leads to its hording and flow into unproductive economic activities such as Hous Price Bubbles, market manipulation, creation of monopolies ect...
Of course all the economists who promote the benefits of lower taxes and trickle down are employed by firms who invest rich peoples money. We must all learn to aviod the propegander of the VI's
To aviod future house price crashes and bubbles the Government must have the will, Just like FDR, to tax the rich and tax the hell out of those that speculate and not invest or innovate.
3. refusetobuy said...
I saw a graph on Newsnight that mapped the current fall in shares against the crash in 1929. Same sort of % in same timescale. Unfortunately I don't have the 1929 data series to reproduce the graph here.
Some blame for the 1929 crash was placed on the ability to buy shares on margin (also called leverage), so you could fully benefit/lose from an increase/decrease without having to put down all the money. I see parallels with the housing market where you could put a deposit of 5-10% and get full benefit of any house price increase (which is then used for more BTL purchases). Similarly in America, loans made to people with no deposit/margin.
4. drewster said...
There's a nice graph out there comparing the current stockmarket to previous crashes. Take a look at this:
Calculated Risk: Four Bad Bears
Apologies for the large graph: