1930s? 2000s? Headlines Pretty Much the Same

Submitted By Trader Mark
The New York Times highlighted this newish blog titled "News from 1930s". Essentially it tracks "this date" in 1930, and the top headlines in the Wall Street Journal. Of course as you know, after a rebound from an initial economic shock based on overleverage (among many other things) - the "green shoots" of recovery petered out... leading to a Great Depression. These headlines were before that happened. Being a curious sort I had to check out the main business and political headlines.

Just replace a few names (one President for another), one Fed head for another, and you see nothing has really changed. :) Well one thing - this week in 1930, Goldman Sachs (GS) was hitting an all time low - not so much now. What it shows me is ideological dogma is a permanent condition, humankind is eternally optimistic - even if naive, and humans - at least of the American kind - learn little from history. The resemblances in some of these are almost verbatim to what is being said, (or better put, is being "sold") today.

Some snippets from the past week

Washington officials will be looking carefully at whether the record-low 2.5% discount rate will revive business. So far easy money hasn't affected the credit picture much, with demand for commercial credit continuing down. However, the lower rates and longer duration now in effect should give a fairer test. Also hoped that easy credit together with lower commodity prices will encourage businesses to restock.
Col. Ayres, VP Cleveland Trust, predicts an abrupt recovery in stock and commodity prices by Labor Day due to current consumption exceeding production. Distinguishes between two types of depression, “V”-shaped and “U”-shaped.
Current speculative sentiment is bearish, but the conditions are there for a strong bull market in the future.
Conservative observers warn clients against buying into the rally, advise those long the market to sell when market turns weak again. One experienced observer criticizes the excess of optimistic market talk, says market won't improve until fundamental business conditions do.
Market observers see some hopeful signs: buying support is now coming out for stocks when they approach recent lows, and volume has been low in response to bear operations. Anticipate a possible quiet period rather than strong rally - this is typical of the end of bear markets.
Congressional subcommittee praises strategy of accelerating public works projects to moderate unemployment in business slowdowns, emphasizes good psychological effect of doing this quickly.
Census indicates New York City contains “300,000 unemployed and 100,000 drifters.”
Senator Glass is heading a subcommittee considering extensive changes to banking regulations. Among the changes considered are restricting speculative loans by banks to brokers and stock exchange members, removing the Secretary of the Treasury as a member of the Federal Reserve Board because of undue influence, making it easier for banks to expand nationwide, etc. Anticipated the committee will have meetings all of next year's session and submit recommendations December 1931. (oh boy, oh boy - if only he saw what the powers that be would do within 70 years)
J. Westerfield of the NY Stock Exchange lectures civics clubs of Yonkers on the causes of the current business recession. Says the effort to attribute it to any single cause is superficial; criticizes sanguine statements of “new era” economists that “the vast amount of reliable statistical information had practically abolished the old-time evils of large inventories and overproduction.” Concludes that an illusion grew popular that “paper profits in ... quoted values for real estate, commodities, securities, and other forms of property increased fortunes and thereby spending power.” (wow! literally could be ripped from the headlines the past decade)
One broker's opinion: “When this economic and market readjustment has been completed, it will merely be represented by a small curve downward in our steadily mounting curve of prosperity, consumption, production and efficiency ...”
Congress will adjourn in about a week - this might help market sentiment. (hah!)
Central Trust of Illinois says economy seems to be recently improving from end of 1929 and first months of 1930. Employment and imports seem to be trending up recently...... Union Trust of Cleveland also says the long-term outlook is improving and some indicators are pointing up. Philip Wagoner, president of Underwood (office equipment) is also seeing good month-to-month improvement. (I guess the term "2nd derivative improvement" was not quite so en vogue back then)
Survey of Illinois Manufacturers Association finds slow but sure recovery in business, expects improvement in second half of 1930 with profits for year as large as 1928, and further improvement in 1931.

And just for kicks....

Technicolor is target of bear attacks amid rumors of lost contracts and competitive color film processes. Stock has declined from $70 to $25 over a period of weeks. Company denies rumors, says full capacity is sold out well into 1931, current year earnings estimated at $5.

[May 25, 2009: Louise Yamada - 2000s Uncanny Resemblance to 1930s]

Did you like this article?

Login or register to post comments
Email this page
Reset vote
0 points

yanyingping Nikeshoxshop.com

Submitted by nike123 on Sat, 03/20/2010 - 10:59am.

yanyingping Nikeshoxshop.com is an online Nike Shox shoes outlet store, at which you can purchase discount & cheap Shox Shoes. Nike Shox sale online. Find great deals on Sporting Goods, Nike Shox R4, Cards Fan Shop and get what you want now! Shopping is the best place to shop for Nike Shox NZ Shoes, kids nike shox shoes Compare products, compare prices, read reviews and merchant. The best selection about Nike Shox NZ advertising and marketing. Shox Torch around the globe, updated daily. A point of reference for advertising professionals and advertising Nike Shox R4. China discount Nike Shox directory - Offering products from Chinese manufacturers, nike shox turbo suppliers, Chinese buyers, importers, wholesalers & distributors Shox TL1 at discounted price. We have a monopoly in Nike TL3 Shox, new styles, with Free shipping, 50% OFF offering.

Guess was established in the

Submitted by erye on Thu, 03/11/2010 - 8:16pm.

Guess was established in the early '80's and mbt tunisha has since become one of global lifestyle brands. Today,guess handbags outlet, markets and distributes full collection of women,mbt lami birch men and children's apparel, as well as guess handbags outlet and accessories. Many women consider this Designer handbags outlet, Guess purses and Guess bags as among the "must have" items in their wardrobe.nike air max 95 At present,nike air max handbags are not just fashion statements anymore.nike air max 360 Bags must be large,2009 air max sturdy and functional to support the needs of the modern woman.mbt lami birch It is not unusual for women to more than one bag. air max 2003 A vital necessity for one bag is not adequate to carry everything she needs.nike air max 2010 Guess handbags are trendy that complements every fashion-conscious woman's lifestyle.nike air max 95 Most retail stores sell Guess purses between nike air max 90, making this an affordable nike airmax 95.

liliHello,I'm Lily,the news

Submitted by lili on Tue, 03/09/2010 - 10:29pm.

lili

Hello,I'm Lily,the news you post is very useful for me, I am agree with this view, but I also have some of my own opinion about this.For myself,the stars blowing a wing about the Ugg Boots ,ugg boots sale unique material, so that it can be worn all year round.Ugg Classic Boots are hotsale in 2009 such as UGG Classic Short ,UGG Classic Tall,UGG Classic Mini, simple style and easy match with clothes are their greatest strengths,sure the UGG Ultra Short,UGG Ultra Tall,Ugg Bailey Button,UGG Classic Crochet, UGG Coquette Slipper,UGG Lo Pro Button,UGG New Style Boots,UGG Nightfall,UGG Sundance are also very hot.If you like to buy cheap ugg boots ,you can enter the www.uggboot.org ,in there you can find many uggs on sale.

This post is very great,I

Submitted by gjh on Mon, 03/08/2010 - 8:35pm.

This post is very great,I like to read again.Thank you very much! Cheap Timberland Bootscheap timberland classic bootskids timberland bootsTimberland timberland boot Timberland Bootstimberland boots cheaptimberland boots for cheap timberland boots for kids timberland boots for men timberland boots for saletimberland boots for women timberland boots men timberland boots on sale timberland boots uk Timberland Classic Timberland Mens 6 InchTimberland Mens ChukkaTimberland Mens Customtimberland shoes timberland uk timberland women boots Timberland Work Bootsnike shox,nike air max,air jordan shoes,air force 1,nike nba shoes,nike dunk sb,nike air max 90 ,cheap air max,cheap nike shox nike dunks.cheap ugg boots Uggugg australia bootsUgg BootUgg Bootsugg boots on saleUgg Boots Saleugg on saleUgg SaleUggsugg classic tallugg classic tall Bootugg classic tall saleugg tallugg tall bootsUGG Classic Tall blackugg short bootsugg short boots saleugg classic shortugg classic short saleclassic short bootsclassic short boots saleugg classic short boots chenyuhua

»
Login or register to post comments

mens lacoste shoes has an

Submitted by erye on Fri, 03/05/2010 - 1:50am.

mens lacoste shoes has an unrivaled heritage in lacoste shoes cheap the sports fashion market.The lacoste shoes for women continues to appeal to the lacoste shoes sale young consumer and the lacoste footwear line is no exception.We have lacoste shoes for men and lacoste men shoes.These stylish and fashionable lacoste shoes have the most competitive price.lacoste shoes sale 7 business days delivery!buy lacoste shoes Welcome to our website.

»
Login or register to post comments

Comfortable mbt shoes known

Submitted by erye on Sat, 02/27/2010 - 9:20am.

Comfortable mbt shoes known for offering branded shoes,mbt shoes online and other footwear items from renowned manufacturers,mbt sale gains world recognition for offering authentically designed mbt walking shoes at easy-on-the-pocket prices.MBT Shoes M Walk, offered by Plant Shoes,mbt for sale is deliberately designed to increase the mbt on sale advantages of walking as well as exciting the mbt clearance good effects on health.If you wear mbt chapa, your body is forced to maintain its natural balance,mbt outlet thereby stimulating and exercising mbt shoes sale the body’s supporting muscle system.mbt shoes on sale.

»
Login or register to post comments

Shop online for authentic

Submitted by ugg mbt on Sun, 02/21/2010 - 9:34am.

Shop online for authentic luxury Porsche Design Watches,wholesale Burberry Handbags,wholesale rolex watches,Accessories including PTC 911,wholesale Nike Shox Shoes,mbt shoes,wholesale Dolce Gabbana Handbags,wholesale Louis Vuitton Handbags,Flat Six,wholesale ed hardy,wholesale rolex watches,Indicator at our website,porsche design watches,wholesale jordan shoes,nike air max 2009,The biggest brand discount website!

»
Login or register to post comments

Very great!wow,wow!The

Submitted by timberland on Sun, 02/21/2010 - 8:50am.

Very great!wow,wow!The message is so woderful!why not read that？ mbtmbt shoesmbt shoes salembt anti shoescheap mbt shoesLamimbt lamithe anti shoesM.WalkMBT M.WalkMBT Lami ShoesMBT Lami Birch ShoesMBT Lami Civiar Black ShoesMBT Lami Gray ShoesMBT Lami Purple ShoesMBT Lami Red ShoesMBT M.Walk Black ShoesMBT M.Walk Gray ShoesMBT M.Walk Green Shoes(NEW ARRIVAL)MBT M.Walk Peachblow Shoes(NEW ARRIVAL)MBT M.Walk Pink ShoesMBT M.Walk Purple Shoes(NEW ARRIVAL)MBT M.Walk Sky Shoescheap ugg bootsUggugg australia bootsUgg BootUgg Bootsugg boots on saleUgg Boots Saleugg on saleUgg SaleUggsugg classic tallugg classic tall Bootugg classic tall saleugg tallugg tall bootsUGG Classic Tall blackugg short bootsugg short boots saleugg classic shortugg classic short saleclassic short bootsclassic short boots saleugg classic short bootsTimberland bootsTimeberland boots sale Cheap timberland shoesTimberland work bootsClassic TimberlandTimberland Roll Top bootsTimberland Chukka BootsTimberland waterproof bootsUggugg australia bootsUgg Bootugg on saleUgg Bootsugg boots on saleUgg Boots SaleUgg Salecheap ugg bootsUggsugg tall bootsbailey buttonbailey button bootnike shox,nike air max,air jordan shoes,air force 1,nike nba shoes,nike dunk sb,nike air max 90 ,cheap air max,cheap nike shox nike dunks.

If you are looking for the

Submitted by Ecboots on Tue, 02/09/2010 - 8:58am.

If you are looking for the top boots such as timberland boots sale,christian louboutin shoes, uggs on sale,puma shoes ,high quality, Quick shipment,Lowest price and Good service. Many people care their health.To have a good MBT shoes, will help reduce the anxious.when you see mbt shoes sale, you can find timberland boots sale, christian louboutin sale and puma shoes sale, no matter which you like, there are some other styles, like timberland 6 inch boots, ugg bailey button,ugg argyle knit boots,timberland boots mens,timberland roll top boots, mbt lami shoes.these shoes make you so fashion in cold winter. Also,you can take a look the designer handbags,such as gucci handbags,chanel handbags, Louis Vuitton Handbags and so on.

puma shoes |puma speed

Submitted by xuxiangfei on Wed, 02/03/2010 - 10:07pm.

Your guide to Discount

Submitted by erye on Sun, 01/31/2010 - 10:24pm.

Your guide to Discount Designer Sunglasses Online including exclusive deals on Chanel Sunglasses, We are the direct manufacturer of classic chanel sunglasses provides you with wholesale,Gucci Sunglasses offer a large selection of wholesale replica sunglasses and wholesale Prada Sunglass,include ray ban sunglasses,Freepost Returns on all Sunglasses sale is a great source for sunglasses on Discount sunglasses sale.

Adidas shoes are famous for

Submitted by icecream on Sat, 01/30/2010 - 9:43am.

Adidas shoes are famous for skillful manufacture and superior quality.From Adidas Originals to Adidas Superstar Shoes,it make people satisfactory.We also offer all kinds Nike Air Max:Air Max 2009,Air Max 1,Air Max 2003.Now,ugg boots on sale,the famous is ugg classic cardy boots and UGG bailey button

Christian Louboutin Sale

Submitted by fan on Thu, 01/28/2010 - 2:36am.

Christian Louboutin Sale

As the climate is colder and colder, many more warm boots fight against cold. Christian Louboutin Boots avariable in worldwide, have become femininity, hight quality and nice design for women. So Christian Louboutin boots are very popular. Getting a pair of Christian Louboutin that is dream of every girl.
Christian Louboutin Shoes have peep toe, signature red leather sole will help you show your taste. They are sexy, gorgeous and fun. The designers ' national spirit, is " make shoes that are like jewels" and each unique design demonstrates an unparalleled degree of quality and a born sultriness. Christian Louboutin Shoes desined with leather lining,round toe, concealed platform,hidden heel and signature red sole,which will bring much confidence and comfort and make you more beautiful.
However, if you purchase online, you will find a couple of Christian Louboutin begins at a fraction of the price of the originally price, you should be aware that buy Christian Louboutin online can save your money. One began the discount Christian Louboutin and is payment have been offered in goodugg.net store.
Look at the Christian Louboutin! What a slender and graceful line! Ladies are crazy about it. If you are engaged in the vogue or you want keep the same pace with the trend. Christian Louboutin Sale could be your best choice.

Introducing the

Submitted by gucci rain boots on Fri, 01/22/2010 - 3:05am.

Introducing the gucci rain boots, available with colorful knit uppers and detailed with three oversized puma shoes outlet allowing it to be styled buttoned up, prada online sale,At the same time, somebody may say, all of the mens nike dunk, the lacoste shoes is the best choice. Some online stores also sell.

I remember a US client who

Submitted by GGG on Thu, 01/21/2010 - 3:05pm.

I remember a US client who wanted to evaluate the perfection of our louis vuitton bag and find the most probing test would be to take our replicas to a store. You can not help like these replica louis vuitton, I think that it is time for you choose some pretty unique ornaments in this season. I also recall another US client who had damaged the popper button of her louis vuitton outlet. She thought the best place to get it repaired would be a store.