Tuesday, October 13, 2009

Back to the Future

In 1930 there was a tremendous stock market bounce....this is what they said:

May 1, 1930
“While the crash only took place six months ago, I am convinced we have now passed the worst and with continued unity of effort we shall rapidly recover. There is one certainty of the future of a people of the resources, intelligence and character of the people of the United States – that is, prosperity.” – President Hoover
June 29, 1930
“The worst is over without a doubt.” – James J. Davis, Secretary of Labor.
June 9, 1931
“The depression has ended.” – Dr. Julius Klein, Assistant Secretary of Commerce.
Sound Familiar?
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