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“There is nothing new on Wall Street or in stock speculation....

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FreeBaller

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05/07/22

16:35

Post #: 62383425
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Originally posted by Navb: ↑

Yeah, you would realise that the Great depression, almost a century ago has no relevance to today's markets. The US economy crashed by 30% and unemployment rose to 20% too. I remember reading that the average investor back then took up sharemarket investing as a hobby and had no real knowledge. Most of them actually investing using margin lending. While the level of debts maybe high today too, markets are not driven by average investers.

We live in a globalised world that operates differently to how things were done back in 1929. No developed contry is going to let half of its banks collapse in today's world, they will roll out stimulus packages to protect banks and people.

However, if this is your beleif, I am hoping you have moved to cash completely? Because if markets crashed anywhere near 89% in today's world it will bring a domino effect and collapse most of the world economies.

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“There is nothing new on Wall Street or in stock speculation. What has happened in the past will happen again, and again, and again. This is because human nature does not change, and it is human emotion, solidly built into human nature, that always gets in the way of human intelligence; of this I am sure.” — Jesse Livermore

Last edited by FreeBaller: 05/07/22
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