This book reexamines the economic crash of 1929 and compares the event to the modern stock market crash of 2008-2009.
What actually caused the economic crisis in the United States in 1929? Why did a similar disaster occur again in 2008-2009? Today's news sources are filled with misinformation about what is happening and why in America's financial world—perpetrating myths and putting people's hard-earned funds at risk.
Twice in the last century the usually stalwart economy of United States has crumbled—first in 1929, when the stock market crash that led to the Great Depression hit, and again with the financial market meltdown of 2008-2009 that is still crippling much of America. While it is still too soon to state unequivocally how this latest economic disaster came about, it is possible to theorize that much of what has happened could have been foreseen and even avoided—just as it could have been in 1929.
This book accurately describes the economic situations in the United States before the 1929 and 2008-2009 stock market crashes, and carefully examines the causes of both financial crises. This comprehensive assessment of both time periods allows readers to better grasp the present market situation, understand the connection between the explosion of the sub-prime mortgage market and the current state of the economy, and more wisely forecast the future.
• A bibliography and index are provided to facilitate further research
• Contains practical investment strategies for active financial investors that will help ensure economic survival even in the worst financial conditions
• Presents a new perspective on the stock market crash of 1929 and argues against the belief that the it was a result of a stock market that had reached an unsustainable high-point
• Authored by an expert on the Great Depression, this text offers unique, seasoned, and informed insights
• Offers current, relevant information for anyone concerned about the state of the stock and other securities markets