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Pastimes : How to best deal with KOOKS at this web site
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To: Bill Ulrich who wrote (609)7/3/1997 12:25:00 AM
From: Herb Fuller   of 1894
 
Bill-Ice-Gottfried Re: >>>The Big Crash of 1929<<<

All the things that you have touched on are things that were the result of the big crash and not the causes of the crash .

1. The world was on the gold standard in 1929 and that limited what the world governments could do to prevent the crash . Today we would print money to provide a recovery as we are not tied to gold .

2. It wasn't untill 1937 that we put people to work with borrowed capital , WPA etc. . Today we would provide the capital the next week if needed

3. It was mentioned before about the margin requirements being 5%- 10% . Today the margin requirement is much higher and we would move the margin requirement up higher if we needed to ..

4. Back in 1929 we had very little control on the banking system . Today our banks are, for the most part , regulated and have to provide reserves to provide liquity .

I could go on and on but I'll end it here by saying that we should be more concerned about the distruction of our currency due to inflation than a depression because as long as we can print money to fund our way out of bad times I'm sure that the world leaders will take the easy way out and do just that .

BTW Gottfried look at your e-mail .

Have a good one .

Herb

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