In 1929, when it all started, many folks shrugged it off. Who could blame them? People had been having a merry time for most of the decade. Women bared their knees and rouged them up, men parted their hair in the middle and tried to imitate Rudolph Valentino, and they all sipped illicit liquor and danced the weekends away. Even as late as 1931 the papers were saturated with stories urging people to buy stocks at a bargain price. We thought things would turn around. But they didn’t. Then, one morning, it was as if we all woke up from a spell, panic-stricken, and realized the ditch we’d rolled
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