false <![CDATA[The Great Crash 1929]]> http://photo.goodreads.com/books/1169685731m/41591.jpg 41591 26 Rampant speculation. Record trading volumes. Assets bought not because of their value but because the buyer believes he can sell them for more in a day or two, or an hour or two. Welcome to the late 1920s. There are obvious and absolute parallels to the great bull market of the late 1990s, writes Galbraith in a new introduction dated 1997. Of course, Galbraith notes, every financial bubble since 1929 has been compared to the Great Crash, which is why this book has never been out of print since it became a bestseller in 1955. Galbraith writes with great wit and erudition about the perilous actions of investors, and the curious inaction of the government. He notes that the problem wasn't a scarcity of securities to buy and sell; "the ingenuity and zeal with which companies were devised in which securities might be sold was as remarkable as anything." Those words become strikingly relevant in light of revenue-negative start-up companies coming into the market each week in the 1990s, along with fragmented pieces of established companies, like real estate and bottling plants. Of course, the 1920s were different from the 1990s. There was no safety net below citizens, no unemployment insurance or Social Security. And today we don't have the creepy investment trusts--in which shares of companies that held some stocks and bonds were sold for several times the assets' market value. But, boy, are the similarities spooky, particularly the prevailing trend at the time toward corporate mergers and industry consolidations--not to mention all the partially informed people who imagined themselves to be financial geniuses because the shares of stock they bought kept going up. <I>--Lou Schuler</I> 1466583 book 1954 The Great Crash 1929 total:227|5:55|4:104|3:53|2:12|1:3| 227 877 404 67 4 5 false false Thu Apr 24 03:33:00 -0700 2008 Thu Apr 24 11:29:54 -0700 2008 more...]]> 4 2 false false Thu Jan 01 00:00:00 -0800 2009 Mon Dec 29 11:49:49 -0800 2008 Sat Jan 03 07:36:05 -0800 2009 my own analysis of the current event. This is truly a gem of institutional economic history. My one quibble is that at the end of the book, where he tends more to prescription, that he places more ...more...]]> 4 1 false false Sat Dec 27 00:00:00 -0800 2008 Wed Dec 24 09:47:44 -0800 2008 Sat Dec 27 08:36:23 -0800 2008 more...]]> 4 0 false false Sat Aug 01 07:41:11 -0700 2009 Sat Aug 01 07:41:30 -0700 2009 more...]]> 4 0 false false Sat May 23 00:00:00 -0700 2009 Sat May 23 11:33:21 -0700 2009 Sat May 23 12:41:17 -0700 2009 Lytton Strachey of economics. They share a mordant, sardonic wit that makes their writing entertaining even though their tone may at times strike you as unfair and smug. The book is full of surprises: the notion that suicides increased markedly after the crash is a myth; tur...more...]]> 3 0 false false Wed Jan 14 00:00:00 -0800 2009 Wed Jan 14 20:29:30 -0800 2009 Wed Jan 14 20:34:50 -0800 2009 more...]]> 4 0 false false Tue Sep 01 00:00:00 -0700 1987 Wed Aug 26 01:15:57 -0700 2009 Wed Aug 26 01:24:41 -0700 2009 1 more...]]> 4 1 false false Thu Feb 12 00:00:00 -0800 2009 Thu Feb 05 06:55:43 -0800 2009 Wed Feb 18 05:49:11 -0800 2009
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I finished reading ‘The Great Crash 1929′ today. What an excellent bo...more...]]> 4 0 false false Fri Nov 20 00:00:00 -0800 2009 Sat Nov 21 05:31:03 -0800 2009 Sat Nov 21 05:35:00 -0800 2009 more...]]> 4 0 false false Mon Dec 01 00:00:00 -0800 2008 Sat Jan 17 12:59:17 -0800 2009 Sat Jan 17 12:59:17 -0800 2009 more...]]> 3 0 false false Sun Jun 28 00:00:00 -0700 2009 Sun Jun 28 17:12:33 -0700 2009 Sun Jun 28 17:12:33 -0700 2009 more...]]> 5 0 false false Thu Apr 16 23:50:11 -0700 2009 Thu Apr 16 23:58:02 -0700 2009 more...]]> 5 0 false false Fri Sep 18 00:00:00 -0700 2009 Sun Sep 20 11:55:56 -0700 2009 Sun Sep 20 11:55:56 -0700 2009
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