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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: MulhollandDrive who wrote (119980)5/1/2008 3:11:00 PM
From: Think4YourselfRead Replies (3) of 306849
 
I am beginning to understand why so many stock brokers committed suicide after the stock market crashed in 1929. The folks on Wall Street have to be thinking things are wonderful right about now. Everything is going up right in front of their eyes, so all the bad news must already be factored in, the bottom is in, and good times are ahead. It wouldn't surprise me if a lot of them are using margin right now, just as the brokers in 1929 were doing. The fed is, for all intents and purposes, lending money for free at the moment.

Unfortunately for Wall Street, all the economic news and the anecdotal evidence is screaming that a very severe recession has begun, no matter what the government figures say.

Another oddity is that there was a big housing boom that went bust a few years before the market crashed in 1929. People were in denial back then too.

History repeats itself? If not then this is an incredible string of coincidences.
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