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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: energyplay who wrote (55290)11/1/2004 5:55:13 AM
From: Elroy Jetson   of 74559
 
Just as a reminder that this foolishness has consequences.

The immensely wealthy founder of General Motors, William C. Durant, who made this absurd Kudlow-esque comment in May 1929 . . .

"Everything will be fine as long as we continue to believe.

Confidence, not half-way confidence, but 100% confidence is the real basis for our prosperity."


. . . spent the remaining 20 odd years of his life managing a bowling alley and trying to sell a quack medicine to remedy baldness, having lost everything.

.
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