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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: bart13 who wrote (83773)7/17/2007 11:57:56 PM
From: John Vosilla  Read Replies (2) of 110194
 
'I do agree that Hoover tried to inflate, but even with that $1.1 billion per chromatic it was like pissing into the wind given the drops in bank credit & M3. etc. The Fed has learned a great deal since then, and fundamentals always win in the end - a fancy way of saying it'll blow up sometime and I don't know when.'

The Stock market and Wall Street were the center of power and wealth during that gilded age. 90% leverage in the stock market and record wealth disparity played a huge part as did the fact so much of the country was already struggling for several years before the stock market crash.. Other big factors were restrictions on trade, tarriffs plus a restriction on immigration in that era and tightening of short term rates that went too far. Obviously trade and budget surpluses like China has today didn't matter much in avoiding a crash and subsequent depression..
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