Monday, May 21, 2007

"Blast from the Past"

could be news from on the headline to read Fleckenstein´s take.

könnten zitate oder meldungen aus dem jahr 2007 sein....klickt bitte auf die überschrift um die meinung von Fleckenstein zu lesen.

"Mergers of industrial corporations and of banks were taking place with greater frequency than ever before, ....... And every rumor of a merger or a split-up or an issue of rights was the automatic signal for a leap in the prices of the stocks affected ......

"One could indulge in all manner of dubious financial practices with an unruffled conscience so long as prices rose. The Big Bull Market covered a multitude of sins. It was a golden day for the promoter, and his name was legion."

Though the shelves of manufacturing companies and jobbers and retailers were not overloaded, the shelves of the ultimate consumer and the shelves of the distributors of securities were groaning. Trouble was brewing -- not the same sort of trouble which had visited the country in ....., but trouble nonetheless. Still, however, the cloud in the summer sky looked no bigger than a man's hand

all quotes from
Only Yesterday An Informal History of the 1920's
by Frederick Lewis Allen

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