The unbounded optimism of the Jazz Age and the shocking consequences when reality finally hit on October 29th, ultimately leading to the Great Depression. Here is a direct link. Famous last words: “You couldn’t go wrong investing in American stocks”…sound familiar? The more things stay the same…
BTW in case you are wondering, the margin use on NYSE stocks has now reached levels seen near the peak of both the tech led stock bubble of 2000 and the credit/housing/commodities/stock bubble of 2007 as shown in this chart to 2013.
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