Berkeley CSUA MOTD:Entry 43730
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2025/04/03 [General] UID:1000 Activity:popular
4/3     

2006/7/19-21 [Science/GlobalWarming, Finance/Investment] UID:43730 Activity:nil
7/19    1927-1933 Chart of Pompous Prognosticators
        http://www.gold-eagle.com/editorials_01/seymour062001.html
        \- it's a little strange to see Irving Fischer descibed as
           "PhD in economics"
        \- it's a little strange to see Irving Fisher descibed as
           "PhD in economics" ... somewhat interestingly, his advisor
           was JWGIBBS of Gibbs Free Energy fame.
2025/04/03 [General] UID:1000 Activity:popular
4/3     

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www.gold-eagle.com/editorials_01/seymour062001.html
Email this Article Email this Article 1927-1933 Chart of Pompous Prognosticators Chart locations are an approximate indication only 1 "We will not have any more crashes in our time." In the foreign field there is peace, the goodwill which comes from mutual understanding." I do not feel there will be soon if ever a 50 or 60 point break from present levels, such as (bears) have predicted. I expect to see the stock market a good deal higher within a few months." This is the time to recall the words of the late J P Morgan... Within a few days there is likely to be a bear panic rather than a bull panic. Many of the low prices as a result of this hysterical selling are not likely to be reached again in many years." Unless we are to have a panic -- which no one seriously believes, stocks have hit bottom." America is now in the eighth year of prosperity as commercially defined. The former great periods of prosperity in America averaged eleven years. On this basis we now have three more years to go before the tailspin." For six years American business has been diverting a substantial part of its attention, its energies and its resources on the speculative game... Now that irrelevant, alien and hazardous adventure is over. Business has come home again, back to its job, providentially unscathed, sound in wind and limb, financially stronger than ever before." " - Harvard Economic Society (HES), November 2, 1929 8 "... recovery of business next spring, with further improvement in the fall." I have every confidence that there will be a revival of activity in the spring, and that during this coming year the country will make steady progress." "For the immediate future, at least, the outlook (stocks) is bright." "There is nothing in the situation to be disturbed about." American business is steadily coming back to a normal level of prosperity." "While the crash only took place six months ago, I am convinced we have now passed through the worst -- and with continued unity of effort we shall rapidly recover. There has been no significant bank or industrial failure. " - HES May 17, 1930 "Gentleman, you have come sixty days too late. "We are now near the end of the declining phase of the depression."