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07-21-2013, 02:23 PM #1
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The Crash Of 1929
The Crash Of 1929
Submitted by Tyler Durden on 07/20/2013 18:09 -0400
Based on eight years of continued prosperity, presidents and economists alike confidently predicted that America would soon enter a time when there would be no more poverty, no more depressions - a "New Era" when everyone could be rich. Then 1929 began - a time when the stock market epitomized the false promise of permanent prosperity... it's only when we learn the lessons of the past can we avoid the mistakes of the future - or this time it's really different.
Congress: "Is it fair to say that Wall Street has benefited more [from QE] than Main Street has?"
Bernanke: "I don't think so... I want to emphasize that we're very focused on Main Street... Our low interest rates have created a lot of ability to buy automobiles..."
"The United States is afflicted with 'New Eras'"
http://www.zerohedge.com/news/2013-07-20/crash-1929
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