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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: patron_anejo_por_favor who wrote (273737)	9/7/2010 8:25:39 AM
From: Tommaso	Read Replies (1) \| Respond to of 306849

>>>the role that destroying nearly all non-US manufacturing capacity had in getting us out of the depression<<< That's not perfectly true, although the demand for U. S.-manufactured goods did increase enormously. But production in England rose hugely, too; they got to the point of being able to produce airplanes, guns, and tanks faster than the Germans could destroy them. And wartime production increase in Russia was rapid and enormous. The U. S. sent as much stuff as they could to Russia, but whatever got past the German submarines and made it to Murmansk was rather small, though helpful, in comparison with what the Russians did for themselves. Of course it is true that most European production either stopped or was seized by the Germans. And it is also true that the war pulled the country out of the Depression. John Templeton, then in his thirties, saw what was happening, as you probably know, and made his famous bet on the stock market, borrowing $10,000 from his boss and buying one round lot of shares in all NYSE companies selling for less than $1.00 a share.