<<I dont think I like these guys!! Geez, what a bunch of pessimists, or .... could it be they are attempting to
STRUCTURE for their own gain?? I wouldnt trust anyone called ROACH. JDN>>
JDN ... I guess we have all ruled out that they just might be correct, eh. You have reminded me of the lead-in quote to William L Shirer's 'Rise and Fall of the Third Reich.' "Those who cannot remember the past are doomed to repeat it." -- George Santyana
Here is something else you will not like, JDN. On September 5, 1929, Roger W Babson, financial statistician and founder of Babson College in Wellesley, Massachusetts, speaking before his Annual National Business Conference, observed, "Sooner or later a crash is coming and it may be terrific ... factories will shut down ... men will be thrown out of work ... the vicious circle will get in full swing and the result will be a serious business depression."
This was promptly called the Babson Break. "Wall Street was not at loss as to what to do about Babson. It promptly and soundly denounced him. Barron's, in an editorial on September 9, referred to him with heavy irony as the 'sage of Wellesley' and said he should not be taken seriously by anyone acquainted with the 'notorious inaccuracy' of his past statements.
Ken Wilson
Information about Babson from "The Great Crash, 1929" by John Galbraith (who accurately predicted the 1987 crash).
Not that I am predicting a depression.<g> |
