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Financial Collapse Ignores “Talking Heads” March 23, 2009

Posted by aetiusromulous in Economics, news, politics, Video, YouTube.
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“For Effective Incantation Knowledge is Neither Necessary nor Assumed”

“On Sunday ( October 27, 1929) there were sermons suggesting that a certain measure of divine retribution had been visited on the Republic and that it had not been entirely unmerited. People  had lost sight of spiritual values in their single minded pursuit of riches. Now they had their lesson.   

 “Almost everyone believed that the heavenly knuckle rapping was over and that speculation could again resume in earnest. The papers were full of prospects for next week’s market.

 “…In a concerted advertising campaign in Mondays papers, stock market firms urged the wisdom of picking up these bargains promptly. “We believe” said one house, ” that the investor who purchases securities at this time with the discrimination that is always a condition of prudent investing, may do so with utmost confidence”.

The Great Crash,1929 – John Kenneth Galbraith