>ITT: We analyze the warning signs before the Crash of 1929 and the key events that fueled fear and capitulation thereafter.
ITT: We analyze the warning signs before the Crash of 1929 and the key events that fueled fear and capitulation...
Henry Allen
Josiah Jones
One word: credit
William Collins
Capitalism opened up the markets to a lot of fucking retards. It's a free market, so everyone is free to fuck shit up.
In a truly free market, you vote with your wallet, and unfortunately, your vote counts just as much as the sub-80 IQ retard next door as long as he has the same amount of money.
What we saw were a lot of creditors giving credit to everyone with almost no prejudice. Want an automobile? No problem, start a credit account with us! Want a house? New appliances? Why pay for it today when you can pay for it tomorrow!
For the first time ever, America became a nation of creditors, which in a perfect world would have stayed that way, but because of retards, we instead became a nation of debtors.
Opening the stock market to the masses was the real problem, though. Poor people have no business being involved in the stock market, because if you're poor, it's because you're stupid. Stupid people should not be allowed to collectively influence the economy, but that is exactly what happened.
There is a story, don't know if it's true, but JFK's dad timed the stock market bubble perfectly and cashed out right before the Great Depression because a poor boy shining his shoes for him said that he was investing every dollar he made into the stock market. He figured that if even the shoe shine boy was involved, he was not "in good company" so to speak, and it was time to exit.
Wyatt Roberts
runesoup.com
This massive credit, and also capital flight to the US stock market from Europe because of the post WW1 economic and political turmoil
Anthony Baker
>Capitalism opened up the markets to a lot of fucking retards. It's a free market, so everyone is free to fuck shit up.
At least people didn't starve to death. Under communism, the gov't is free to fuck shit up. The gov't fucking shit up is a lot worst than citizens fucking shit up.
Connor Price
>JFK's dad timed the stock market bubble perfectly and cashed out right before the Great Depression because a poor boy shining his shoes for him said that he was investing every dollar he made into the stock market. He figured that if even the shoe shine boy was involved, he was not "in good company" so to speak, and it was time to exit.
Gee, it's almost like in Crypto when the Normies came in waves and we even saw Crypto Thots crawl out from the woodwork posting their mugs and attention whoring on Jow Forums of all places. Notice how in this entire year we have not seen one or heard one queef out of these cunts.
It's just as it was said, when you hear it on the mainstream news it's time to sell.
Adam Gutierrez
Forgot to add that the equivalent of the boy shinning shoes spending every penny on the stock market was that guy living in his friend's garage inside a car spending everything on Crypto.
Isaac Brown
Exactly. Benjamin Graham calls this sentiment "contrarian investing."
There is a little more to it, but the general idea is that you do the opposite of what the normies do. If normies are euphoric, you get the fuck out.
Leo Allen
I was hoping for more panic after the BTC dump but the telegram groups seem to be more euphoric then ever.
What would it take to enter capitulation?
Lucas Myers
>If normies are euphoric, you get the fuck out.
hear this a lot and its dangerous advice for the retarded, treating it as a rule to always be contrarian is just as stupid as following the heard.
theres a fine line, shoe shine boys and instathots are beyond it lol
Landon Smith
Tyler Reyes
it'll happen again.
Evan Cooper
Asher Adams
dumb 1920's zoomers got what they deserved.
Look at this guy. Hours before suicide.
JUST
U
S
T
Jayden Brown
His son offed himself also decades later
Owen Hughes
This were the good days
Jaxon Gutierrez
the problem is this; bitcoin was also on cnbc etc. in the bottom of the 2014 bear market. And it was on there all the way from 2014-2017, just at increasing frequency.
Now how do you analyse when the frequency is too much? Sure, it was obvious we were in a bubble in january, but the same could also be said if you looked at the crypto market in september 2017. And if you cashed out in september you would have missed literal 100x gains on many alts.
Easton Perez
$1k. It will happen in 2019 for sure. but you have to realise, that the ultimate indicator is not whether people are bearish or bullish. It's when NO ONE is talking about it. When everyone stops talking about bitcoin is when it's hit the bottom.
The telegram groups have dried up in activity significantly.
Caleb Peterson
and you knew who you were then
Brayden Walker
>billions
drop in the ocean in 2018. trillions.
Brody Lee
>There is a little more to it, but the general idea is that you do the opposite of what the normies do.
This. Always do the opposite of what Jow Forums says. Jow Forums FUDing a coin? Buy it. Shilling? Sell.
Dominic Thomas
Forgot about him, did he ever post again?
Adam Robinson
implying communism is the only alternative to capitalism
brainlet or boomer
Caleb Morris
if we pose the question "Is public consensus at any given time an accurate reflection of a market" and assume the answer is yes, how difficult would it be to create a tool that aggregates relevant data (sourcing from social media potentially) and summarizes the information? It would essentially amount to offloading the processing power necessary to predict market forces onto millions of highly efficient, powerful computers (market actor's brains).
Alexander Lewis
>What we saw were a lot of creditors giving credit to everyone with almost no prejudice. Want an automobile? No problem, start a credit account with us! Want a house? New appliances? Why pay for it today when you can pay for it tomorrow!
What are you suggesting? That businesses should only sell their goods and services for cash? Of course they will give credit to anyone once the market is saturated and everyone who could have bought without taking credit has already done so. Aren't you aware that the modern economy is built around credit?
>Poor people have no business being involved in the stock market, because if you're poor, it's because you're stupid.
>hundreds of millions of people become poor as the result of the Great Depression
>90+ % of them weren't even involved in the US stock market
>hurr they are stupid now cuz they're poor now amirite xD
>stupid plebs the are no match for me, the enlightened zoomer who just watched an"educational" YT video about the Great Depresion xD
Sure. Keep thinking that you're so smart and above the 99% because your mommy always told you that you're such a special boy.
>Opening the stock market to the masses was the real problem, though.
Guess what your based and *very smart* rich people (because wealth = big IQ according to you) wanted to maximize their profits by luring more people to the stock market.
Carson Carter
the market can be irrational longer than you can be solvent
Robert Green
>Poor people have no business being involved in the stock market, because if you're poor, it's because you're stupid.
Dylan Morris
This. You can't tell when it's too much. Anyone who says they can is just lying if they don't have a 10x short to back it up. Everything else is just hindsight. If you live inside the crypto world it's easy to overestimate how many people are involved but if you actually step outside you realize even in december there weren't THAT many people actually BUYING but there were plenty of people TALKING about crypto. Couple of crypto thots here and there doesn't really tell you anything accurate. The bubble popped too fast to pull everyone in.