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Liked It “An amazing account, well-written and often sarcastically funny, of the stock market crash in 1929. |
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“An excellent observation as well as fantastic narration. That's John Kenneth Galbreath.”
michael y wrote this review Thursday, March 26 2009. ( reply | permalink ) Was this review helpful? Yes | No“An amazing account, well-written and often sarcastically funny, of the stock market crash in 1929.
wolftex wrote this review Sunday, March 8 2009. ( reply | permalink ) Was this review helpful? Yes | No
This book was written in 1955 !!!. There is a new introduction from 1995. Look below at some quotes that illustrate how shockingly and hilariously similar the crash and the political reaction to it was compared to 2008.
What is a bit disappointing about the book that it is a re-count of events but is very light on clear-cut explanations of which economic mechanisms led from crash to depression. But that is minor criticism for a book that needs to called classic.
"Always when markets are in trouble, the phrases ae the same: `The economic situation is fundamentally sound` or simply `The fundamentals are good.` All who hear these words should know that something is wrong."
"If there must be madness something may be said for having it on a heroic scale."
"On the whole. the great stock market crash can be much more readily explained than the depression that followed it."
"..constant danger of devastation by reverse leverage.... bring down the corporate pyramids."
"For Republicans the balanced budget was, as ever, high doctrine.....The rejection of both fiscal (tax and expenditure) and monetary policy amounted precisely to a rejection of all affirmative government economic policy.... The consequences were profound."
Watch the PBS film documentary:
http://www.pbs.org/wgbh/amex/crash/program/index.html”
“Very relevant and exciting given what we're going through today. If you only get to read one non-fiction book on finance / stock market, this is the one.”
Gloria L wrote this review Sunday, January 4 2009. ( reply | permalink ) Was this review helpful? Yes | No“The last lines of the book are some of its best:
Tim R wrote this review Thursday, November 20 2008. ( reply | permalink ) Was this review helpful? Yes | No
"Here, at least equally with communism, lies the threat to capitalism. It is what causes men who know that things are going quite wrong to say that things are fundamentally sound."
The "fundamentally sound" is funny to me, because we are right now going through another financial crisis, and just in the past few weeks, there have been people using the exact phrase "the fundamentals are sound".
Great book, puts a lot of things in perspective (especially related to the current crisis), and does a good overview of the subject (as much as is possible in 200 pages). ”
“I found this book very interesting after reading Nickle and Dimed. It is about the stock market crash of 1929. It is really relateable to the economy now and what is going on. Recently the stock market has not been doing so well and people think that the market is going to crash. We would think that nothing would happen like this because of all the new rules and government regulations that were set to prevent another disaster. In the past two month many big name companies and banks have been going bankrupt due to many reasons. Also the labor has been cut down and many people have been getting laid off leaving them to financial difficulties. ”
BRYAN T wrote this review Sunday, October 26 2008. ( reply | permalink ) Was this review helpful? Yes | No
“If you dont wonder how this could happen,you probably dont think it could happen again.”
ross l, gilbert, arizona wrote this review Saturday, July 26 2008. ( reply | permalink ) Was this review helpful? Yes | No
“As a student of the Great Depression, I liked this book, even though I disagree with its conclusions. I find the work of Friedman, Wanninski, Jim Powell, Amity Shales far more persuasive on the causes and consequences of the Great Depression.”
Ron B wrote this review Monday, February 18 2008. ( reply | permalink ) Was this review helpful? Yes | No
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