One more in a long series of comparisons between the Crash of 1929 and the GFC of 2008 in which our current GFC is proceeding further and faster than did the one in 1929. Guess I should be glad that the crisis is over. As the Dutch said while fighting the Spanish: "It is not necessary to have hope in order to persevere."
[Note: Federal Reserve funds used for speculation - that's crazy talk!] Glass Senate subcommittee to meet about Nov. 15 to investigate financial matters, particularly use of Federal Reserve funds to help finance speculative operations. [Note: Ay Chihuahua! Dept.] J. Raskob, GM finance committee dir. and Democratic Nat'l. Committee Chair., optimistic on auto industry: "There have been indications during the past six to eight weeks showing that the depressed conditions in the automobile industry have reached bottom and are slowly turning into more normal channels. ... Sharp revival in the motor industry may be expected to begin with the automobile shows in early January. It will stimulate all other lines of business activity. ... There can be no doubt that the motor industry will show substantial improvement in 1931. ... Optimism should now be the order of the day."
[Note: Ay Chihuahua! Dept.] J. Raskob, GM finance committee dir. and Democratic Nat'l. Committee Chair., optimistic on auto industry: "There have been indications during the past six to eight weeks showing that the depressed conditions in the automobile industry have reached bottom and are slowly turning into more normal channels. ... Sharp revival in the motor industry may be expected to begin with the automobile shows in early January. It will stimulate all other lines of business activity. ... There can be no doubt that the motor industry will show substantial improvement in 1931. ... Optimism should now be the order of the day."
