This Time Is No Different - Reflections On 1929 Optimism

Tyler Durden's picture




 

When it comes to markets, the following clip, as well as memories of recent market collapses, highlights that it is usually brightest just before it's pitch black.

..."As the market floundered financial leaders were as optimistic as ever...more so"...

(h/t @Macheterosforvr)

 

We are where...

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Fri, 03/30/2012 - 16:46 | 2304811 -1Delta
-1Delta's picture

reminds me of live cattle futures right now

Fri, 03/30/2012 - 16:59 | 2304860 MillionDollarBonus_
MillionDollarBonus_'s picture

 One of the most astonishing hypocrisies of Zero Hedge is their shameless money grabbing from advertisers, EVEN when the adverts contradict their most deep rooted ideologies. Just today, I have come across adverts for:
 
1. Donations to the Obama presidential campaign
2. Brokerage services at Goldman Sachs
3. McDonalds franchising
 
In addition I’ve repeatedly seen adverts for “Forever Lazy’s”. I would never buy something so ridiculous, and I resent the implication.
 
My advice to ZH: Get your values in order and STOP taking money from adverts that contradict your stated views. You’re embarrassing yourselves.

Fri, 03/30/2012 - 17:04 | 2304874 SimpleSimon
SimpleSimon's picture

Au contraire, it is great to be taking money from the people you detest and using it to publish stuff that is not exactly complimentary to them, isn't it?  

Fri, 03/30/2012 - 17:09 | 2304895 ArkansasAngie
ArkansasAngie's picture

And ... while I don't give my money to any of them ... I do occassionally ... accidentially ... click on one of the ads.

Fri, 03/30/2012 - 18:01 | 2304990 TruthInSunshine
TruthInSunshine's picture

Typography Presentation - YouTube

 

Examples of false statements, which were thought to be true at the time...

"Everything that can be invented has been invented."
Charles H. Duell(United States Patent and Trademark Office) 1899

"Heavier-than-air flying machines are impossible."
Lord Kelvin (Royal Society of London) 1895

"Airplanes are interesting toys, but of no military value"
Marshal Ferdinand Foch 1911

"I think there is a world market for maybe five computers"
Thomas J Watson (President Of IBM) 1943

"Stock prices have reached what looks like a permanently high plateau."
Irving Fisher (Professor of Political Economy) 1929

"The Bernanke Put is really going to work this time. Honest. We wouldn't lie to you."
Squids urging Muppets to hold or buy equities - 2012

Typography Presentation - YouTube

 

 

Fri, 03/30/2012 - 18:55 | 2305194 Uchtdorf
Uchtdorf's picture

Um, it's in Turkish.

Fri, 03/30/2012 - 21:14 | 2305398 economics9698
economics9698's picture

MDB, disappointing.

As for the 29 crash the Fed pumped millions after the crash, only to see it crash again. 

Hoover raised taxes from 25% to 63%, spent the surplus to deficit, passed trade protection, Smoot-Hawley, and created agricultural cartels, kept oil prices artificially high, kept wages artificially high, and made a recession into the Great Depression. 

As for the advertisers I get “financially secure men” which is a total waste of advertising revenue in my case.  My advertisements should be, “Hormel Chili, 108 ounce can on sale $7.50!”  That would grab my attention.

Fri, 03/30/2012 - 23:19 | 2305571 Spirit Of Truth
Spirit Of Truth's picture

The diagram above is most revealing.  My thesis in graduate economics is entitled Manic-Depressive Man:

http://www.spiritoftruth.org/Thesis/Intro

Million Dollar Bonus is a precious contributor to this community IMHO. :)

Sat, 03/31/2012 - 14:45 | 2306595 TruthInSunshine
TruthInSunshine's picture

Written subtitles below are in English & appropriate song. Works for me.

Fri, 03/30/2012 - 18:56 | 2305200 ChrisFromMorningside
ChrisFromMorningside's picture

I hope you're all ready for the "Gobal Minimum Tax."

It's going to be great for America. I know that because Vice President Biden said so and he would never lie. If any of you are against it, I'm going to assume you're an America-hating terrorist: http://www.youtube.com/watch?v=bSyxA-vdDYg&feature=player_embedded

Yep, America is economically choking to death on taxes and regulations. It appears that some of our enemies decided to save their wealth, avoid total take-over by the financial sector and preserve some semblance of free enterprise (sounds like America-hating terrorists to me) and we can no longer compete with them. The solution? Choke them to death with the same taxes that killed our economy. And if they don't accept it, we'll bomb their ass to smithereens.

Fri, 03/30/2012 - 19:07 | 2305215 Chuck Walla
Chuck Walla's picture

Hey, they will need thousands of new IRS agents fluent in Burmese and Urdu.  i want to watch them collect off Somali Pirates, That could be fun.

Fri, 03/30/2012 - 21:01 | 2305415 BlackholeDivestment
Fri, 03/30/2012 - 21:25 | 2305446 earleflorida
earleflorida's picture

BD excellent link on "NWO" 

thanks :-))

Ps. Sessions's really shined - lovin it!

Sat, 03/31/2012 - 02:03 | 2305851 Al Gorerhythm
Al Gorerhythm's picture

By global minimum tax, do they me like an import tarrif? Hmmmmm.

Fri, 03/30/2012 - 20:12 | 2305326 Buck Johnson
Buck Johnson's picture

Verty good, you hit it on the head.  Also I never seen this documentary and it's amazing how much insider info they had.

Sat, 03/31/2012 - 10:29 | 2306169 I should be working
I should be working's picture

Should probably add to that:

Equities are dead they will never beat cash, Businessweek 1982

The economy will never grow again, all is lost, early 1920s, 1932-1945, 1970s, 2000 through 201?

Doesn't mean you should pile into stocks today, but every time growth seems to be over for the economy eventually it picks up again. I don't know when this will happen though. Maybe it already started (doubt it), maybe by 2020.

Things will get better some day, but we probably need a really nice dose of inflation to clear out unpayable debts. generally this isn't good for the market, buy gold and wait?

Sat, 03/31/2012 - 10:41 | 2306183 Seer
Seer's picture

And... the ever running one: There can be perpetual growth on a finite planet!

Check out the quotes from Harvard Economic Society back during the Great Depression:

http://myinvestorsplace.com/2009/05/10/great-depression-1929-quotes-stat...

If people of such high positions are going to make such proclaimations then they should be held to account should they be wrong: at a minimum, tar and feathers.

Fri, 03/30/2012 - 17:47 | 2305014 BoNeSxxx
BoNeSxxx's picture

I don't get what you guys are talking about... all I see are ads for gay porn sites.

Fri, 03/30/2012 - 18:03 | 2305061 Whalley World
Whalley World's picture

I get Russian bride scam sites

Fri, 03/30/2012 - 18:53 | 2305191 LetThemEatRand
LetThemEatRand's picture

I get nothing but ads for Karl Marx propaganda and pro-statism literature.  Just yesterday I found myself browsing the entire Stalin catalog at GoReds.com.

Fri, 03/30/2012 - 19:52 | 2305296 disabledvet
disabledvet's picture

i keep getting ads of me looking at me. i don't know if to click on it or not...

Fri, 03/30/2012 - 20:48 | 2305390 LetThemEatRand
LetThemEatRand's picture

Nice one.

Fri, 03/30/2012 - 21:06 | 2305425 disabledvet
disabledvet's picture

nice one what? i am not amused actually...

Fri, 03/30/2012 - 21:29 | 2305445 Likstane
Likstane's picture

Mine are mostly boating safety ads, and an occasional Bible commentary. OK, I get the Russian hooker ad also.

Fri, 03/30/2012 - 23:03 | 2305530 Prometheus418
Prometheus418's picture

Excellent- I see I'm well on my way to becoming an oligarch.

No foreign ladies, politics, or bibles for me- I get Gold, Silver, private jets, trading platforms, Rolex and and offers to invest in Seimans line of electric cars.  And one ad for Macy's, which I can't quite fit in there, but maybe it's my fiancee's doing.

Ok, time to turn the adblock back on.

Sat, 03/31/2012 - 00:08 | 2305705 DaveyJones
DaveyJones's picture

why do I get penis reduction sites?

and is that a compliment or an insult?

Sat, 03/31/2012 - 12:48 | 2306401 toady
toady's picture

Hey! Me too!

We must be brothers from different Mothers.

Sat, 03/31/2012 - 08:50 | 2306084 jimmytorpedo
jimmytorpedo's picture

gee, i get cadilacs (hate them, drive a p/up), gold (love it!) and string bikinis (haven't worn one in years but my wife looks great in them)

time to delete all cookies and enter the void

when you stare into the abyss,the abyss stares into you

(forgive my mangled Nietsche quote)

Fri, 03/30/2012 - 20:16 | 2305334 Calmyourself
Calmyourself's picture

Got you down, maybe there is something to that advertising... Unionize your employess yet you evil exploiter of class stratification and the holy proletariat..  Robbed anyone of their inheritance lately?

Fri, 03/30/2012 - 20:58 | 2305410 LetThemEatRand
LetThemEatRand's picture

King George III was quite certain that he had a God Given right to own America before the Revolution.  Fucking liberals took his inheritance.

Fri, 03/30/2012 - 18:55 | 2305195 donsluck
donsluck's picture

Nothin' but donkeys here...

Fri, 03/30/2012 - 21:05 | 2305419 lakeside
lakeside's picture

I was promised mine swallows and never spits. Hooah!

Sat, 03/31/2012 - 05:00 | 2305948 Jedi Longsabre
Jedi Longsabre's picture

They're actually not scam sites. I picked one up through the mail order service, a Ukrainian variant and I have been very satisfied with my purchase. 

Haha! I am actually not kidding. I met my wife through one of those sites and she is awesome! No joke!

Sat, 03/31/2012 - 07:57 | 2306037 Gavrikon
Gavrikon's picture

I lived over there for awhile, and met my wife there, also.  She is indeed awesome (though very assertive).  We celebrate our 13th anniversary in May.  Best decision I ever made.

Sat, 03/31/2012 - 13:06 | 2306446 toady
toady's picture

A guy I knew when I worked had a mid life crisis, got rid of the wife and kids, and started shopping the Eastern European markets for a new wife.

I told him just to enjoy being single, but he wouldn't listen.

Anyways, he got scammed twice. Sent ALOT of money, flew over twice, and was robbed shortly after arrival.

He switched over to the P.I., got one on the line, treked 40 clicks into the jungle and brought her out.

Now he has a 17 year old girl in his house on a fiance visa that doesn't speak english.

I need to give him a call... I'm dying to hear the next episode of this soap opera!

Sat, 03/31/2012 - 15:34 | 2306683 Cathartes Aura
Cathartes Aura's picture

blow-up doll would have been cheaper, but I guess it can't wash his dishes & clean his hovel.

blow-up doll & weekly maid, yeah, that would service him.

Sun, 04/01/2012 - 11:35 | 2307599 The Alarmist
The Alarmist's picture

Hookers would have been cheaper, and he wouldn't have to be the one doing the blowing.

Fri, 03/30/2012 - 20:26 | 2305355 A Nanny Moose
A Nanny Moose's picture

Damn that Google ad-sense.

Sat, 03/31/2012 - 10:42 | 2306184 Seer
Seer's picture

"all I see are ads for GREY porn sites"

Fixit it for you!

Sat, 03/31/2012 - 11:16 | 2306225 BoNeSxxx
BoNeSxxx's picture

+1 Nice, thanks!

Fri, 03/30/2012 - 17:54 | 2305035 Chaffinch
Chaffinch's picture

I'm always accidentally clicking on ads here - one of the problems of using an iPad ; )

Fri, 03/30/2012 - 23:06 | 2305538 Muddy1
Muddy1's picture

Of course, who wouldn't explore "Sugar Daddy Dating"?

Sat, 03/31/2012 - 17:27 | 2306840 BennyBoy
BennyBoy's picture

Keep clicking on their ads.

Over and over and over...

Every click costs them money and they get no business from ZH readers.

 

 

Fri, 03/30/2012 - 21:03 | 2305417 Randall Cabot
Randall Cabot's picture

Nice video. There was Morgan, Lamont, Mitchell, Ford, Hoover and Livermore.

But where was Rothschild, Baruch, Warburg, Schiff, Kuhn and Loeb?

Sat, 03/31/2012 - 11:54 | 2306272 humblepie
humblepie's picture

SimpleSimon: Great point! Take ALL their money. :)

Fri, 03/30/2012 - 17:08 | 2304885 HarryM
HarryM's picture

But I like the "Russian hotties looking for Established Men" ads!! 

Fri, 03/30/2012 - 17:19 | 2304926 Atomizer
Atomizer's picture

That's right, women need sugar daddy's.

Fri, 03/30/2012 - 20:14 | 2305330 TNTARG
TNTARG's picture

Come on, guys, markets are falling all right but you'll always need girls. Specially under a huge capitalistic crisis. So behave.

Fri, 03/30/2012 - 17:37 | 2304984 Belarusian Bull
Belarusian Bull's picture

Belarusian girls are better. Russians are already spoiled with money, while in Belarus you still can find true feelings.

Fri, 03/30/2012 - 18:03 | 2305062 The Alarmist
The Alarmist's picture

Like despair?

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