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Author Topic: "We will not have any more crashes in our time." - John Maynard Keynes, 1927  (Read 4116 times)

Junker

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"We will not have any more crashes in our time." - John Maynard Keynes, 1927
« on: December 12, 2008, 03:06:05 pm »
at problemcat blog:

psychological uncertainty

    "We will not have any more crashes in our time."
        - John Maynard Keynes in 1927

    "There will be no interruption of our permanent prosperity."
        - Myron E. Forbes, President, Pierce Arrow Motor Car Co., January 12, 1928

    "There may be a recession in stock prices, but not anything in the nature of a crash."
        - Irving Fisher, leading U.S. economist , New York Times, Sept. 5, 1929

    "This crash is not going to have much effect on business."
        - Arthur Reynolds, Chairman of Continental Illinois Bank of Chicago, October 24, 1929

    "There will be no repetition of the break of yesterday... I have no fear of another comparable decline."
        - Arthur W. Loasby (President of the Equitable Trust Company), quoted in NYT, Friday, October 25, 1929

    "We feel that fundamentally Wall Street is sound, and that for people who can afford to pay for them outright, good stocks are cheap at these prices."
        - Goodbody and Company market-letter quoted in The New York Times, Friday, October 25, 1929

[and more goodly, wise quotes from that era]
[/list]
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Polearm

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Re: "We will not have any more crashes in our time." - John Maynard Keynes, 1927
« Reply #1 on: December 14, 2008, 07:34:35 pm »
Technically, John Maynard Keynes was right.  There were no more crashes in his time....since he died in 1946.

I Googled the rest of them and the companies that are listed.  They are either dead or out of business. 

This is why I have such a strong dislike for "experts" in a field. 

Can they butcher a hog or con a ship?
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R.J.
audax et celer

Klapton Isgod

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Re: "We will not have any more crashes in our time." - John Maynard Keynes, 1927
« Reply #2 on: December 14, 2008, 08:14:26 pm »
Quote from: Polearm on December 14, 2008, 07:34:35 pm
Technically, John Maynard Keynes was right.  There were no more crashes in his time....since he died in 1946.

I Googled the rest of them and the companies that are listed.  They are either dead or out of business. 

This is why I have such a strong dislike for "experts" in a field. 

Can they butcher a hog or con a ship?

Uhhh...  He said that in 1927.  There was a wee little crash in 1929.
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"I got things under control, that's why people call me an extremist.  I'm autonomous.  I understand that I declare my independence every day."  Ted Nugent

"It is the conservative laissez- fairist, the man who puts all the guns and all the decision-making power into the hands of the central government and then says, 'Limit yourself'; it is he who is truly the impractical utopian."  Murray Rothbard

Polearm

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Re: "We will not have any more crashes in our time." - John Maynard Keynes, 1927
« Reply #3 on: December 15, 2008, 08:31:42 am »

Oh yeah..good point.

Again, this is why I dislike "experts". 

Course, he could have suspected something and instead of telling people (aka..running around shouting that the sky was going to fall), he kept it to himself and perhaps built an escape pod. 

Meh.
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R.J.
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Junker

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Re: "We will not have any more crashes in our time." - John Maynard Keynes, 1927
« Reply #4 on: December 15, 2008, 06:34:19 pm »
Quote from: Klapton on December 14, 2008, 08:14:26 pm
Quote from: Polearm on December 14, 2008, 07:34:35 pm
Technically, John Maynard Keynes was right.  There were no more crashes in his time....since he died in 1946.

I Googled the rest of them and the companies that are listed.  They are either dead or out of business. 

This is why I have such a strong dislike for "experts" in a field. 

Can they butcher a hog or con a ship?

Uhhh...  He said that in 1927.  There was a wee little crash in 1929.


?!? Wasn't that a correction--the ignorant people buying and selling shares at too high a price?  :laugh:
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