https://www.blogit.com/Blogs/Blog.aspx/World_Wide_Depression/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 mhourly12000-01-01T12:00+00:00https://www.blogit.com/Blogs/Blog.aspx/World_Wide_Depression/666406The 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....https://www.blogit.com/Blogs/Blog.aspx/World_Wide_Depression/625123It is incredible what people are saying about our recovering economy. From the Federal Reserve to covers of magazines the so called "experts" are jumping for joy that we are recovering from this so called "worse recession since World War II." What world are they really from!? It has to be either...https://www.blogit.com/Blogs/Blog.aspx/World_Wide_Depression/592357This last week Americans and the world witnessed history as the first African-American became President of the United States. Barrack Obama became the 44th president of the U.S. To many this day will be remembered forever. To other Americans it was the satisfaction that President George Bush,...https://www.blogit.com/Blogs/Blog.aspx/World_Wide_Depression/590873Stock markets around the world have started 2009 as they did last year. The big bear market continues. But is there a bottom in the near future? Some market statisticians are predicting a new low in the Dow Jones and other indices. This would be below 7,449 in the Dow. However, how far will it...https://www.blogit.com/Blogs/Blog.aspx/World_Wide_Depression/586768In my first book, The Approaching Winter: The Next Great Depression, I wrote, “ In my opinion, the causes of the next great depression will be clear: An unseen reversal in psychology from optimism to pessimism was the catalyst to a bear market in stock exchanges in 2000. Basic economics and...https://www.blogit.com/Blogs/Blog.aspx/World_Wide_Depression/574308People that think the today's record setting rise in the Dow Jones will get us out of the woods need to read the following quote. Please note the date. “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...