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The Masked Tulip

1929 - The Great Crash

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You know, we have discussed this programme numerous times on here.. but having my lunch now I saw that it was on and, boy, just reminding myself of what happened in the bubble that led up to the Great Crash is truly staggering.

In particular, how all these so-called 'respected men' - respected simply because they were rich and rich equated to wise - were simply ramping stocks to lure in Joe Public and then got out having made millions. The names are well known and some went on to found politicial dynasties but, sheesh, what were they really?

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The names are well known and some went on to found politicial dynasties but, sheesh, what were they really?

Scum.

I loved the story of the guy who sold everything he had in the stock market just before it crashed because he was getting stock tips from a shoe shine boy.A sure sign of a bubble there.

Edited by Ruffneck

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Scum?

I loved the story of the guy who sold everything he had in the stock market just before he crashed because he was getting stock tips from a shoe shine boy.A sure sign of a bubble there.

That was Kennedy but, as the programme states, he was part of a 'select' group of businessmen who would get together, decide to buy a particular share in order to make it look attractive to Joe Public, once Joe Public started buying the group would bail out making handsome profits.

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It is also interesting that after the first huge dip in prices the 5 top bankers got together, put together a 250 million fund and walked into the NYSE and began to buy shares of major US corporates in 25K lumps paying well above the then price of the shares - they hoped to remove panic.

So this was the first QE. Interestingly, they had a list of blue chips to support and you have to wonder if a similar list exists today?

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It is also interesting that after the first huge dip in prices the 5 top bankers got together, put together a 250 million fund and walked into the NYSE and began to buy shares of major US corporates in 25K lumps paying well above the then price of the shares - they hoped to remove panic.

So this was the first QE. Interestingly, they had a list of blue chips to support and you have to wonder if a similar list exists today?

The first PPT certainly. Not sure about it being the first QE though. However some got their cum uppance such as Richard Whitney who ended up doing bird as an embezzler. That would never happen now! :lol:

Edited by Sir John Steed

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You know, we have discussed this programme numerous times on here.. but having my lunch now I saw that it was on and, boy, just reminding myself of what happened in the bubble that led up to the Great Crash is truly staggering.

In particular, how all these so-called 'respected men' - respected simply because they were rich and rich equated to wise - were simply ramping stocks to lure in Joe Public and then got out having made millions. The names are well known and some went on to found politicial dynasties but, sheesh, what were they really?

The real difference this time IMO is this is truly global. In 29 the world wasn't so inter-connected. OK the panic spread to other countries who then suffered their own depression but it didn't really affect, for instance, India or China. It is just staggering how much money has gone in to propping up the banks. Whichever way you look at it, it could have gone in to private enterprise, new fuel sources etc. Now that would have been change we could all have believed in.

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You know, we have discussed this programme numerous times on here.. but having my lunch now I saw that it was on and, boy, just reminding myself of what happened in the bubble that led up to the Great Crash is truly staggering.

In particular, how all these so-called 'respected men' - respected simply because they were rich and rich equated to wise - were simply ramping stocks to lure in Joe Public and then got out having made millions. The names are well known and some went on to found politicial dynasties but, sheesh, what were they really?

the answer to getting out of this great depression lies in making ground-breaking technology that obliterates our fuel imports....and keeping the production facilities(as well as any IP) in-house.

if china/india& co want to play trade,then we give them access to our markets for a price.

ie....fuel resources will become scarce...you have 1.5 Billion people and we can't all drive chelsea tractors without the whole world becoming embroiled in a global war for black gold.

.....so here's the deal.......we've got engines in r&d that do 100mpg+

.....if you want them,then tata etc,or any companies you are thinking of buying over here will use OUR engines that WE make in-house...in return for access to our customer base.

...on your side,we'll export our engines for use in your own manufacturing house,while you are tapping the asian export market(as well as your own domesic consumers

as long as people play by the rules,and don't thieve,then everybody benefits.

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The real difference this time IMO is this is truly global. In 29 the world wasn't so inter-connected. OK the panic spread to other countries who then suffered their own depression but it didn't really affect, for instance, India or China. It is just staggering how much money has gone in to propping up the banks. Whichever way you look at it, it could have gone in to private enterprise, new fuel sources etc. Now that would have been change we could all have believed in.

We will see just how fragile interconnection of this nature is WHEN we get a pandemic of reasonable magnitude.

Then everything will stop,because nobody has all the bits/knowhow to operate effectively on an individual country/local region basis.

Edited by oracle

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The real difference this time IMO is this is truly global. In 29 the world wasn't so inter-connected. OK the panic spread to other countries who then suffered their own depression but it didn't really affect, for instance, India or China. It is just staggering how much money has gone in to propping up the banks. Whichever way you look at it, it could have gone in to private enterprise, new fuel sources etc. Now that would have been change we could all have believed in.

That was Obama's biggest mistake. It proved from the very start that he was no different from every other politician - he was either dumb enough to believe Wall Street's lies, or up to his neck enough to not be able to confront them. I really do find it fascinating what must go on behind the scenes in DC and NY with the powers that be - I wonder if plebs like us will ever really know how it all goes down.That someone like Obama, a supposed outsider so fresh to the whole scene, could have been so corrupted so early on. If he really believed half the crap in his speeches he could easily have given Wall St the finger, said to hell with your contributions and your blackmail/bribes and just done the right thing. He would have been a one term prez for sure, but he might be one anyway.

All of that said, he's surely 100 times better than McCain (now there's a politician who seems to have abandoned anything he ever stood for) and his cocktail waitress of a running mate would have been

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  • 259 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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