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Strategies & Market Trends : The Stock Market Bubble

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To: Roger A. Babb who wrote ()	12/30/1999 1:15:00 PM
From: Scott Overholser	Read Replies (1) of 3339

Given the recent childish exchange, I thought I'd quote Ludwig von Mises from his preface to the 1934 translation from the German of his 1912 book "The Theory of Money and Credit." For all, the message should be clear: we will get what is coming to us as a result of our economic transgressions. It is not a matter of if, but simply a matter of when. Until then, do as Jesse Livermore suggests: listen to the message of the tape. The quote follows: -- From 1926 to 1929 the attention of the world was chiefly focused upon the question of American prosperity. As in all previous booms brought about by the expansion of credit, it was then believed that the prosperity would last forever, and the warnings of the economists were disregarded. The turn of the tide in 1929 and the subsequent severe economic crisis were not a surprise for economists; even if they had not been able to predict the exact date of their occurrence. -- Quote taken from the Liberty Fund printing of "The Theory of Money and Credit" written by Ludwig von Mises. Printed 1981.

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