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80 Years ago this week/This ain't 1929 - 10/25/2009 7:33:59 PM   
MzMia


Posts: 5333
Joined: 7/30/2004
Status: offline 		It has been 80 year's since the "big one", the stock
market crash called "Black Tuesday".
Great Depression in the US ... 80 Years Later ... Ellie's Family
 
When we "step back in time", and look at the events that led to the
big one, what have we learned?

Have we learned enough in the last 80 years to avoid something similiar?
Here is a link to an article from MSN, that states "this isn't 29 again".
I agree, it is not 1929 again, but did we learn enough 80 years ago, to
stop something similar?

 Jon Markman - 80 years later, this isn't '29 again - MSN Money


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RE: 80 Years ago this week/This ain't 1929 - 10/25/2009 7:42:29 PM   
servantforuse


Posts: 6363
Joined: 3/8/2006
Status: offline 		Your'e right, this ain't 1929. It's 2009 and a very good time to buy stocks. I you missed the last 3 months, it's still not to late.

(in reply to MzMia)
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RE: 80 Years ago this week/This ain't 1929 - 10/25/2009 7:50:48 PM   
MzMia


Posts: 5333
Joined: 7/30/2004
Status: offline
quote:

ORIGINAL: servantforuse

Your'e right, this ain't 1929. It's 2009 and a very good time to buy stocks. I you missed the last 3 months, it's still not to late.


Well it's been 80 years, and the point is, have we really learned our lesson?
Time will tell.
Actually, I don't think I missed out, many are waiting to see if the current surge will last,
there are plenty of us that feel we have not seen the bottom yet.
Time will surely tell.


< Message edited by MzMia -- 10/25/2009 7:54:03 PM >

_____________________________

Namaste'
To Each His/Her Own
"DENIAL ain't just a river in Egypt." Mark Twain


What's your favorite fetish?
"My partner's whisper"--bloomswell

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RE: 80 Years ago this week/This ain't 1929 - 10/25/2009 7:56:27 PM   
servantforuse


Posts: 6363
Joined: 3/8/2006
Status: offline 		If the market was going to crash ( and it came close ) it would have done so in the last year. If we can ride this mess out, we can do anything. This is still the greatest Country in the world and always will be.

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RE: 80 Years ago this week/This ain't 1929 - 10/25/2009 7:59:46 PM   
MzMia


Posts: 5333
Joined: 7/30/2004
Status: offline
quote:

ORIGINAL: servantforuse

If the market was going to crash ( and it came close ) it would have done so in the last year. If we can ride this mess out, we can do anything. This is still the greatest Country in the world and always will be.


I agree this is the greatest country in the world.
We will have to agree to disagree about the stock market. I think we
have a long way to go, before "we are out of this mess".


< Message edited by MzMia -- 10/25/2009 8:01:07 PM >

_____________________________

Namaste'
To Each His/Her Own
"DENIAL ain't just a river in Egypt." Mark Twain


What's your favorite fetish?
"My partner's whisper"--bloomswell

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RE: 80 Years ago this week/This ain't 1929 - 10/25/2009 9:46:57 PM   
MzMia


Posts: 5333
Joined: 7/30/2004
Status: offline
quote:

ORIGINAL: servantforuse

Your'e right, this ain't 1929. It's 2009 and a very good time to buy stocks. I you missed the last 3 months, it's still not to late.


I forgot to add, if we had not had the bailouts, the stock market probably would have fallen
to around 4000.
Tracking the $700 Billion Bailout - The New York Times

< Message edited by MzMia -- 10/25/2009 9:55:34 PM >

_____________________________

Namaste'
To Each His/Her Own
"DENIAL ain't just a river in Egypt." Mark Twain


What's your favorite fetish?
"My partner's whisper"--bloomswell

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RE: 80 Years ago this week/This ain't 1929 - 10/26/2009 12:18:49 AM   
Fellow


Posts: 1486
Joined: 9/21/2009
Status: offline 		One of the root causes of Great Depression was over-extension of credit.
Therefore, US learned nothing from history.
The way unemployment was calculated during Great Depression was different compared to today.
It has been argued today's unemployment figures would be close to Great Depression figures if the same methods are used.
WW II was a "blessing" for USA; it brought US out of Great Depression. So, how to get out of the current situation?
Hope for war. Somebody else must fight though as US industry needs to come out intact. Why fight Iran nuclear ambitions and get out of the Middle East.


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RE: 80 Years ago this week/This ain't 1929 - 10/26/2009 11:22:22 AM   
popeye1250


Posts: 18104
Joined: 1/27/2006
From: New Hampshire
Status: offline 		Mia, the stock market seems "toppy" the last couple of weeks. I think the market has overextended itself. I sold some things a few weeks ago and I'm waiting for a bit to buy again.
I had shares in Bank of America (BAC)and it's going down nicely so I'll wait on that one and hopefully it'll hit $12 again and I'll buy it again.
Also Windstar (WIN) a telephone co that's hanging right around $10 but, *it yields 10% in dividends!* Where can you get 10% these days? I'm holding that one for a "double" next year hopefully. At $20 it will still yield 5%, still a good yield! Jim Cramer loves both of those stocks and has said more than once that he expects Bank of America , "to go back up to $40" and "Win is a winner, a double!"
There is an old saying, "the market climbs a wall of worry."
It's simple, you buy when no-one else wants to buy and sell when everyone wants to buy.
I think the market will "correct" itself for the next 2-3 weeks, that is called "a buying opportunity."
The only "danger" I see ahead is government spending." We simply cannot spend more than we're taking in.
Things like "foreign aid" need to be ended, half the amount of Troops in foreign countries, cut the State Dept in half, do away with the Dept of energy and education, and a few dozen other cuts. There's a *tremendous* amount of waste in our government!
Last night 60 minutes had a segment on Medicare/Medicaid fraud that is costing us billions.
When is President Obama going to cut the above? Those are "changes" we really do need!
We need to be paying down the national debt, not creating more of it! That's the biggest danger to the economy.

P.S. the last week of Oct has never been a good week for stocks.

< Message edited by popeye1250 -- 10/26/2009 11:59:17 AM >

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RE: 80 Years ago this week/This ain't 1929 - 10/26/2009 8:11:17 PM   
MzMia


Posts: 5333
Joined: 7/30/2004
Status: offline
quote:

ORIGINAL: Fellow

One of the root causes of Great Depression was over-extension of credit.
Therefore, US learned nothing from history.
The way unemployment was calculated during Great Depression was different compared to today.
It has been argued today's unemployment figures would be close to Great Depression figures if the same methods are used.
WW II was a "blessing" for USA; it brought US out of Great Depression. So, how to get out of the current situation?
Hope for war. Somebody else must fight though as US industry needs to come out intact. Why fight Iran nuclear ambitions and get out of the Middle East.


Well, I hope we don't need to "hope for war", to improve our economy.

Last time I looked we are already at "war" in several different countries right now.
14 American soldiers killed today in Afghanistan, dude we are certainly in a few wars these days.

< Message edited by MzMia -- 10/26/2009 8:35:12 PM >

_____________________________

Namaste'
To Each His/Her Own
"DENIAL ain't just a river in Egypt." Mark Twain


What's your favorite fetish?
"My partner's whisper"--bloomswell

(in reply to Fellow)
Profile   Post #: 9
RE: 80 Years ago this week/This ain't 1929 - 10/26/2009 8:47:18 PM   
Fellow


Posts: 1486
Joined: 9/21/2009
Status: offline
quote:

Well, I hope we don't need to "hope for war", to improve our economy.

Last time I looked we are already at "war" in several different countries right now.


I hope not too.  Small wars in poor places do not have much benefit.  I believe the long recession is inevitable. Stimulus did not work in 1930-s, nor it worked in Japan during early 1990-s. There is no indication it is working in US (except Wall Street barons pocketing part of it). Intuitively, I believe Keynesian approach would not work to cure serious recession caused by structural problems in the economy. Regrettably US government (considering the way it  works maintaining status quo) is not capable to introduce any long term program to cure the problems. The only justification for throwing money into defective system is that it brings some temporary relief to general public.

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RE: 80 Years ago this week/This ain't 1929 - 10/27/2009 11:10:12 AM   
popeye1250


Posts: 18104
Joined: 1/27/2006
From: New Hampshire
Status: offline 		I don't know what Cramer sees in BAC, Bank of America.
I just noticed that it's P/E is,....."172!!!"
Looks like it's gotten WAY ahead of itself.

_____________________________

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RE: 80 Years ago this week/This ain't 1929 - 10/29/2009 5:29:51 AM   
Alphascendant


Posts: 285
Status: offline 		Until the citizens of the United States elect a government that dumps the Federal Reserve and regains control of our own monetary system, there will be another crash whenever the privately owned central banking system that charges all of us to play with their monopoly money wants one.

http://www.tarpley.net/29crash.htm

http://video.google.com/videoplay?docid=-515319560256183936#

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RE: 80 Years ago this week/This ain't 1929 - 10/29/2009 5:40:06 AM   
Alphascendant


Posts: 285
Status: offline
quote:

ORIGINAL: Fellow

One of the root causes of Great Depression was over-extension of credit.
Therefore, US learned nothing from history.


And they are already at it again

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RE: 80 Years ago this week/This ain't 1929 - 10/29/2009 7:48:49 PM   
MzMia


Posts: 5333
Joined: 7/30/2004
Status: offline
quote:

ORIGINAL: Alphascendant


quote:

ORIGINAL: Fellow

One of the root causes of Great Depression was over-extension of credit.
Therefore, US learned nothing from history.


And they are already at it again


Thanks for turning me on, to The Automatic Earth Financial Blog.
wow just wow


I agree that when the tax credit for new home buyers ends, sales of
existing homes will drop again.
I also agree that home prices have not hit bottom yet.
I don't think we are going to be able to "extend" unemployment benefits forever,
and the large number of unemployed IS going to be a big factor in the near future.

After skimming most of the article, I am suddenly feeling a bit sad.
I do agree we have not hit bottom yet, we still have a few shoes that will drop.
Oddly, most people don't seem to realize this or care.
Thanks for sharing.

Hang on to your hat, it is going to be a bumpy ride.

< Message edited by MzMia -- 10/29/2009 8:05:25 PM >

_____________________________

Namaste'
To Each His/Her Own
"DENIAL ain't just a river in Egypt." Mark Twain


What's your favorite fetish?
"My partner's whisper"--bloomswell

(in reply to Alphascendant)
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RE: 80 Years ago this week/This ain't 1929 - 10/29/2009 8:09:00 PM   
servantforuse


Posts: 6363
Joined: 3/8/2006
Status: offline 		Companies are doing better and the market is up. That's the good news. Bad news is unemployment is still near 10 % and will remain there. Companies are not going to hire new employees now because they know they will be picking up the tab for health care costs by taxes and or penalties.

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RE: 80 Years ago this week/This ain't 1929 - 10/29/2009 10:08:36 PM   
housesub4you


Posts: 1879
Joined: 4/2/2008
Status: offline 		Well, true it ain't 80  years ago, but it is approaching fast.  We have been lied to by every administration, people are running out of savings to live on, there is no manufacturing (compared to 50 years ago) so our tqx base is based on spending, but the masses have no money to spend,m our jobs are gone, with out hopes

A socialist country .....you say Obama brings..... Well, in a socialist country the mean of production are the key to living, and this country could use some jobs, (beyond service jobs)  we have sold our production jobs to China for higher corporate profit, at the cost of our middle class

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RE: 80 Years ago this week/This ain't 1929 - 10/29/2009 10:17:28 PM   
MzMia


Posts: 5333
Joined: 7/30/2004
Status: offline
quote:

ORIGINAL: housesub4you

Well, true it ain't 80  years ago, but it is approaching fast.  We have been lied to by every administration, people are running out of savings to live on, there is no manufacturing (compared to 50 years ago) so our tqx base is based on spending, but the masses have no money to spend,m our jobs are gone, with out hopes

A socialist country .....you say Obama brings..... Well, in a socialist country the mean of production are the key to living, and this country could use some jobs, (beyond service jobs)  we have sold our production jobs to China for higher corporate profit, at the cost of our middle class


We are certainly sinking, most of us SEE IT, but few will admit it.
I hope we can pull out of this, I just don't see any logical end in sight.
America has certainly sold itself down the river, and I don't see how we are going
to dig out of this hole, any time soon.
Keep hope alive, HouseSub.

_____________________________

Namaste'
To Each His/Her Own
"DENIAL ain't just a river in Egypt." Mark Twain


What's your favorite fetish?
"My partner's whisper"--bloomswell

(in reply to housesub4you)
Profile   Post #: 17
RE: 80 Years ago this week/This ain't 1929 - 10/30/2009 1:01:53 AM   
Termyn8or


Posts: 18681
Joined: 11/12/2005
Status: offline 		I am the superhero. I can fly, bullets bounce off my chest (although them guns can hurt my head), I can leap tall buildings in a single bound, and I have Xray eyes, which I of course NEVER use to see..... nevermind.......

But then there is that kryptonite, a substance that has been thrown at me for all my life and now I am going to die.

Are the rich rich enough yet ?

T

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