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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Benkea who wrote (33714)	11/18/1999 10:35:00 PM
From: Hans	Read Replies (1) \| Respond to of 99985

$8 million in circulation in 1929? That sounds very unrealistic. You gotta reject these unreasonable statistics that you hear. I heard a talk show where a caller said that the wealth of the top 5% of americans (more or less) would run the goverment for only eight days. BS I thought, while the host discussed it. Bill Gates is worth 100B. The budget is several trillion. He alone could run things for a few weeks. Add in the other billionaires and millionaires and we're talking about far more than 8 days worth of cash. lies, damned lies, and statistics. And it looks like a melt up.

To: Benkea who wrote (33714)	11/19/1999 1:26:00 AM
From: Elroy Jetson	Respond to of 99985

The market in 1929 was around $90 billion so it seems odd that total margin was $8 million... perhaps $8 billion. It seems quite reasonable that total margin was greater than the amount of currency circulating at the time. Currency is a small fraction of total wealth.

To: Benkea who wrote (33714)	11/19/1999 1:34:00 AM
From: Osaka Joe	Read Replies (2) \| Respond to of 99985

Benkea, I taped the PBS show... it took several replays for me to confirm that the announcer said $8 1/2 BILLION was out on loan. More surprising to me were the warning signs: "All through the summer of 1929, there had been ominous rumblings. For months, unemployment had been rising. Automobile sales and department store revenues had fallen off sharply.Across the South and West, farms were failing in record numbers. And still on Wall Street, the delirious optimism continued undimmed." Except for a few details, it sounds just like today's economy! <gg> I hope we get as much warning before our inevitable crash. Joe