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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: FrozenZ who wrote (2411)4/24/2001 12:47:55 PM
From: Ilaine  Read Replies (2) of 74559
 
That does it. I am going to have to write that history of the Great Depression I keep threatening to write. It will break your heart. It breaks my heart. Things were going along so well. When I read people saying it was caused by "excesses" - not you, I think you get it - I think of robots mouthing words they can't understand.

Slack economic periods while excess debt and excess inventory and excess capacity are worked out is one thing. What happened was something completely different. It was like a thermonuclear bomb was dropped into the macroeconomy.

Something like that should never happen again. To complacently stand by and say, "it's inevitable" is as unacceptable as watching your child die of cancer because you're opposed to Western medicine.

This isn't aimed at you, it's aimed at some of my fellow bears. Profiting from inevitable adversity is one thing. Wishing for it, rooting for it, is another. Schadenfreude is an entirely human reaction, but another Great Depression you wouldn't wish on your worst enemy.
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