The economic repercussions of a stock market crash depend less on the severity of the crash itself than on the response of economic policymakers, particularly central bankers.
I was lucky enough to see with my own eyes the recent stock-market crash, where they lost several million dollars, a rabble of dead money that went sliding off into the sea.
I was lucky enough to see with my own eyes the recent stock-market crash, where they lost several million dollars, a rabble of dead money that went sliding off into the sea. Never as then, amid suicides, hysteria, and groups of fainting people, have I felt the sensation of real death, death without hope, death that is nothing but rottenness, for the spectacle was terrifying but devoid of greatness... I felt something like a divine urge to bombard that whole canyon of shadow, where ambulances collected suicides whose hands were full of rings.
Alas, in 1929 came the Stock Market crash and everything changed and became worrisome. People started practicing conservatism because of financial losses, myself included.
After 1929, so many people had been traumatized by the stock market crash that there was a lost generation.
Some calamities - the 1929 stock market crash, Pearl Harbor, 9/11 - have come like summer lightning, as bolts from the blue. The looming crisis of America's Ponzi entitlement structure is different. Driven by the demographics of an aging population, its causes, timing and scope are known.
From early Colonial days, sex life in America had been based on the custom of men supporting women. That situation reached its heyday in the Twenties when it was easy for any dabbler in stocks to flaunt his manhood by lavishing an unearned income on girls. But with the stock-market crash, men were hard put even to keep their wives, let alone spend money on sex outside the home. The adjustment was much easier on women than on men, who jumped out of windows in droves, whereas I can't recall a single headline that read: KEPT GIRL LEAPS FROM LOVE NEST.
My father was a very successful businessman, but he was ruined in the stock market crash. A big stockbroker jumped out the window and fell on his pushcart.
When the stock market crash, a lot of people realized that the American dream was not all it was cracked up to be. They'd been living for this thing and it was kind of a façade. It wasn't real.
or simply:
