1929 Wall Street Crash

Thanks to those have taken the time & trouble in writing to me.
I'll be Randomly selecting a few to respond in private.

Thanks for sharing with me of your Thoughts.
It's only Fair that I'm now to share with you lot.

A 1-hour TV documentary that I've recently seen.
Produced by BBC (UK) & broadcasted by SBS (Australia, www.sbs.com.au)
And it's called,

"1929 Wall Street Crash"

Counting down the Six Days in Oct 1929 (23-28 Oct) leading to the Crash on the 29th.

But, the programme started with 10 years before the Crash, back in 1919.

When the USA came out as the Biggest Winner from the WWI.
When the USA had the Biggest Number of Women entering Universities.
When the USA had the Biggest Number of Women became Independent of their Finance.

When the Americans had got used to buying Bonds.
(Government using it to raise money to fund the War)

When the Americans had enjoyed a new wave of inventions, radio, car.....

When the Americans had started to buy things on Credit.
(The Mentality of "Get Now, Pay Later")


5 Years before the 1929 Crash the Wall St was rising and rising.
In 2008 alone, the market rose by 50% within a year.
In 1929, the newly sworn in US President was Unease about the Wall St.
He had asked some Powerful Market Insiders if he should be concerned.

All except one replied, "There is NOTHING to be concerned."
Paul Warburg was the exception.
He actually wrote, warning "A Crash is coming".
Even mentioning the word "Depression" in his letter but he's not listened.
Paul gave the Warning in March - 7 months BEFORE the Crash!

In September 1929, a Very Smart Market Insider also felt Unease.
One day, a shoe-polishing boy recommending him to buy shares.
He immediately returned to his office and sold all his shares.

Sold All before the Crash in October.
And do you know who he was?










The Legendary Joe Kennedy.

The father of the Assassinated US President, John Kennedy.

(Wed) 23 Oct 1929. Market dropped for no reason. People started Panicking.

(Thurs) 24 Oct 1929. Market dropped Sharply.

The Famous Four sat down together, came up with a plan & US$250 Million.
They're the two Co Presidents of JP Morgan, the Deputy Chairman of NY Stock Exchange and a Famous Banker.
They'd ONLY one Goal - Stabilising the Market.

One of the Four went onto the trading floor of NY Stock Exchange.
He purposely buying shares at a Premium.
Showing off his Confidence in the Market.
Desperately trying to convince others.
And it worked.

But only worked for one or two days.

(Mon) 28 Oct 1929. Shares dropped again. Market Panicking again.
(Tue) 29 Oct 1929. The Black Tuesday. Wall St dropped by 25% within 2 days.

Wall St finally bottomed out in July 1932.
A 89% drop from its peak.
1 in 4 in the USA was Unemployed.
3,000 banks gone.

80 years gone, what have we learnt?

Have you NOT noticed?
Have you NOT got the Instinct?

Look around you and see for yourself what was happening THEN is happening NOW.
And what is happening this time is Worse than last time.

Share more Next Time.

Fate
Surviving before Profiting
www.myboysmyboss.blogspot.com