Quote about the stock market crash of 1929

Started by Captain Coma , February 20, I saw the similarities as I know you did before I joined this site and named myself after the period one month before Black Tuesday. The bit where we all say it's all OK The vast majority of people who made those quotes knew that things were about to go tits up, and only made those remarks to deliberately mislead people.

Same with the dotcom bubble crash. The New Economy cliches were wheeled out day after day.

Of course, a savvy internet stocks buyer would be sitting pretty now. Some internet stocks were or are good bets as e-commerce takes hold, but back then it was too early days, too much getting carried away etc. Any old crud share if it was e-linked got sky high, perhaps just as any old dump of a property has lately. The pundits back then in the press and TV kept on denying each fall was a crash, that's just what they do, why we can only speculate. With property now the difference is that people do need a roof over their head, however it's highly questionable as to whether the current values offer any value at all.

That said, I've seen no evidence yet but it is early days I guess of recession in the towns I visit. You need to be a member in order to leave a comment.

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All Activity Home House Prices House prices and the economy Famous Quotes From The Great Depression googletag.

Famous Quotes From The Great Depression. Sorry, couldn't resist this from MarketTicker: Famous Quotes on the Great Depression.

Simmons, President, New York Stock Exchange, January 12, Forbes, President, Pierce Arrow Motor Car Co. In the domestic field there is tranquility and contentment In the foreign field there is peace, the goodwill which comes from mutual understanding.

I do not feel there will be soon if ever a 50 or 60 point break from present levels, such as bears have predicted. I expect to see the stock market a good deal higher within a few months.

I have no fear of another comparable decline. Loasby President of the Equitable Trust Company , quoted in NYT, Friday, October 25, This is the time to recall the words of the late J.

Within a few days there is likely to be a bear panic rather than a bull panic. Many of the low prices as a result of this hysterical selling are not likely to be reached again in many years. McNeel, market analyst, as quoted in the New York Herald Tribune, October 30, Pearce market letter quoted in the New York Herald Tribune, October 30, Unless we are to have a panic -- which no one seriously believes, stocks have hit bottom.

America is now in the eighth year of prosperity as commercially defined. The former great periods of prosperity in America averaged eleven years.

On this basis we now have three more years to go before the tailspin.

Free Stock Market Game, Create Your Own Contest

For six years American business has been diverting a substantial part of its attention, its energies and its resources on the speculative game Now that irrelevant, alien and hazardous adventure is over. Business has come home again, back to its job, providentially unscathed, sound in wind and limb, financially stronger than ever before.

I have every confidence that there will be a revival of activity in the spring, and that during this coming year the country will make steady progress.

American business is steadily coming back to a normal level of prosperity. There has been no significant bank or industrial failure. That danger, too, is safely behind us. The depression is over.

Quotes 5 and 8 are very famous remarks by Irving Fisher, who at the time was managing the Yale endowment funds. It didn't go well from there. These were very intelligent people back in their time. Their thoughts on what would happen next were way off the mark. What was said, sounded good and was reassuring. It leaves a lot of doubt about what you can take for granted in todays newspapers.

Wikiquote:Transwiki/American History quotes Stock Market Crash - Wikiquote

Note, quote 20 refers to the fact that it became illegal to own gold as an American citizen. The government was making sure no one was holding out on them. You had to trade your gold in for currency. This was FDR's way of keeping everyone honest--government excluded. Share this post Link to post Share on other sites.

Same is happening now.

I'm using 20 as my new signiture. Brilliant, no more boom and bust. Create an account or sign in to comment You need to be a member in order to leave a comment Create an account Sign up for a new account in our community. Register a new account. Sign in Already have an account? Go To Topic Listing House prices and the economy.

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