hollywood in latex 2 — Here’s a site I ran into while looking into the 1929 stock market crash. It doesn’t seem to be linked to its own home page and features nothing but rather famous movies stars dolled up in latex. Sometimes I’m mystified by the rationale for stuff like this.Baffling.
Oh, and there does not seem to be a Hollywood in Latex1. The mystery continues.
Yeah, so?
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You musta took one helluva wrong turn at Albuquerque to end up there when on the look for stock market history.
Wow and they’re not photoshopped fakes. I admire this man for his dedication.
indeed
Wow! I didn’t realize Iman had such a hot body! Oh, in case you were wondering, John, the Smoot-Hawley Tariff is what caused the 1929 Crash. You can find the explanation for this, as well as a wealth of other political economic phenomena in a book called The Way the World Works by Jude Wanniski. Inflation will cause the upcoming crash.
Mrrrrggghhhh … Buffy …..
David Bowie is one lucky fellow!
If u click on the title jpeg/gif you will get to its main page.
I’m researching the stock market; this helps tremendously.
“John, the Smoot-Hawley Tariff is what caused the 1929 Crash.”
That’s amazing, ’cause the act was signed into law on June 17, 1930.
What happened prior to the crash was removal of barriers to trade, not additions. Tariff removal was in vogue. It was the Reagan/Bush era -1; the Republicans were cutting taxes and tariffs and money flowed into the upper classes hands at an enormous rate. Speculation in stocks increased as people needed places to dump all that new cash. There was practically no regulation, people kept chasing more wealth and kept borrowing cash to speculate with. Bang. It was the first experiment in supply-side tax cuts and tarriff *removal* that caused the economy to occillate out of balance and crash. What happened was greed — and its facilitation by the Republicans.
The Repubs for over 75 years have predictably blamed “the other side” and poor people getting too much of their money, when it was their failed tax policies that started the whole mess in the 20’s. And they repeated it in 1980, and in 2001, and each time has been a debt-ridden fiasco that has finally become too big to finance by borrowing. May this philosophy of endless greed finally become stamped dead after this new, upcoming depression.
Yeah but Smoot Hawley was communicated to the Markets before 1930, that it would become law. The markets react faster than law. Again in 1980? Reaganomics launched the greatest prosperity in the history of the world. National assets rose 20 times from 1980-2000, while debt doubled or tripled.
God, to hear you, you’d think Communism won. Yeah removal of tariffs and taxes made the market go up in the 20s. What’s wrong with that? What was bad was the crash which was caused by the communication that tariffs and all the over governmental regulation was coming back.
The reason why the market crashed well in advance of the tariff becoming law is because markets are forward-looking, and quickly capitalize any policy that will impact on future profits. Fred Kent, Director of the Bankers’ Trust Company, confirms that this is what happened in 1929. In a speech on November 11, 1929, Kent said, “As soon as dealers in securities, who were constantly on the watch for indications as to business conditions, realized that this feeling of uneasiness (on account of the tariff bill) was spreading throughout industry, they began selling stocks.”
Read this pls: http://www.ncpa.org/oped/bartlett/oct2999.html
#12, Stephen, I think you should go back and re-read the article you linked. Several items are mentioned as potential causes and it appears you only read the first few paragraphs. The one NOT mentioned was the crash of 1928 and subsequent lost confidence. The large bankers of the day, including J.P. Morgan, propped up the market but couldn’t sustain the effort and it ultimately crumbled one year later.
The American market didn’t suddenly lose money after 1929. It still had as many dollar bills backed by specie. It lost value. So many people used their excess money from the booming 1920s to invest in the stock market. To get sales, brokers sold stock on margin; put down a small amount (as little as 10%) and pay for the remainder with the profits. So many people were chasing a finite number of stocks that they drove up the price (AKA, inflation). When the brokers called in the loans when the value of the stock became less then the balance on the loans, these investors just didn’t have the cash to pay. When the value was correcting itself is when the bubble burst. As Paul pointed out, tax policies only aggravated the situation, not caused it.
If my mortgage holder suddenly decides I owe more then my house is worth, I will be in the same problem.