Deflation was the problem in the 30s, not inflation. Hoover decided not to be the savior the others had been, and while he though people could survive a jump out the window, nobody at the leverage point of 29 could handle it, it was 20 floors, not two. By the time he realized the mistake, it was too late to stop the avalanche of destruction.
There were two stock market crashes in the 30s, not one. The up move from 32 to 37 was 400%, and trust me, that money was good stuff. Really good stuff I’d bet. Maybe make a dynasty for yossef.
The seeds of 29 were probably mostly planted in 1907. Are you familiar with what happened in 1907? If not, check it out. Tell you a whole lot about what we might be doing now, and what it will mean maybe 20 yrs from now.
In the summer of 1907, the American economy was showing signs of weakness as a number of business and Wall Street brokerages went bankrupt. In October, the respected Knickerbocker Trust in New York City and the ¹Westinghouse Electric Company both failed, touching off a series of events known as the Panic of 1907.
In the wake of the initial business collapses, stock market prices plummeted and depositors made a massive run on the nation’s banks. The U.S. Treasury pumped millions of dollars into weak banks in the hope of saving them, but the string of collapsed institutions lengthened.
Sounds familiar.