I'm watching a show on the Smithsonian channel called "America in Color," and wow... Of the 1920s, it says:
But the boom is a bubble about to burst. Nearly 80 percent of goods are bought on credit. Most Americans have no savings at all. Consumers are stretching themselves thin. And with a runaway bull market, few realize what's about to come.
The market gains are driven by optimism, not on the strength of the companies. Few worry. As long as there are buyers, it seems like a license to print money. By September 1929, the Dow Jones has tripled since 1924. It seems like the bull market will last forever.
Sounds eerily like today, doesn't it? We know, of course, how it ended. Think people have learned?
Get ready...
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months
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