Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (76018)	2/16/2000 9:09:00 PM
From: Mike M2	Read Replies (2) \| Respond to of 132070

To all, excellent must read book "Economics and the Public Welfare" A financial and economic history of the United States 1914-46 by Benjamin Anderson - chief economist at Chase Bank during the 20s. I thought it was out of print and have been waiting for my copy for some time but it is in print Liberty Press 800 955-8335 only $20 for hard back and $8 for paper back. Anderson writes " every era of speculation brings forth a crop of theories designed to justify the speculation , and speculative slogans are easily seized upon. The term "new era" was the slogan for the 1927-9 period. We were in a new era in which the old economic laws were suspended. " In his Chase Economic bulletin dated Feb. 11,1929 he undertook to refute this doctrine in " Two New Eras Compared" in this study i compared the years 1921-9 and the years 1896-1903. Both these periods were characterized by very rapid bank expansion, by great growth in bank reserves, and by great growth in bank holdings of stock exchange paper and bonds. both had rapidly rising security prices and rapidly growing new security issues. Both had fantastic stock exchange performances, and in both perspective was lost. but the first new era had been much more solidly based upon expanding production and safely rising commodity prices, the latter resulting from a great increase in gold production, with gold well distributed throughout the world. pg. 209 Mike ho ho ho