Depression Not So Great »
Posted by: reportage 2 months, 1 week agoNew York, NY -- Last Friday's stock market near-crash sent waves of intestinal cramps rippling through the world's investment community. With the Dow having lost more value than at any time post-1929 and reaching its lowest point in the past 22 months, the financial crisis is taking a psychological and emotional toll on jittery investors.
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JoseMadre2 months ago
The Fed member banks caused the Great Depression by calling in their 24-hour call loans, virtually all of which were used to by stocks on the margin. By calling in so many at once, stocks tumbled and the people who had the loans could not cover the loans by the sale of the stock alone, losing not only their investment but their homes as well. There won't be a depression unless the Federal Reserve declares one.
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