World Wide Economic Depression: Will this stock market rally continue?

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Wednesday, August 4, 2010

Will this stock market rally continue?

The markets have been enjoying a nice rally this summer. The month of July was one of the best in years as the Dow Jones added 7% to its value from the last day of June. So far this month it has gained 212 points to a closing high of 10,680. However, there is one thing missing with this rally.... Sign in to see full entry.

posted by theapproachingwinter at 6:47 PM | add or view comments (1) | leave calling card | link to this | view only this entry

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1. “There will be no interruption of our permanent prosperity.” Myron E. Forbes, President, Pierce Arrow Motor Car Co., January 12, 1928.(1) 2. “No Congress of the United States ever assembled, on surveying the state of the Union, has met with a more pleasing prospect than that which appears at the present time… and the highest record of years of prosperity.” Calvin Coolidge, December 4, 1928.(2) 3. “In most of the cities and towns of this country, this Wall Street panic will have no effect.” Paul Block, President of the Block newspaper chain, editorial, November 15, 1929.(3) 4. “Stocks have reached what looks like a permanently high plateau.” Irving Fisher, Professor of Economics, Yale University, 1929.(4) Now let’s fast-forward to 1966 and examine the words of Alan Greenspan, one of the foremost financial officials of our time. This is what he said was the cause of the Great Depression: “The excess credit which the Fed pumped into the economy spilled over into the stock m

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