New York

rug

(82,333 posts) Mon Dec 26, 2016, 02:48 PM Dec 2016

Empire State Building

10 replies

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Empire State Building (Original Post) rug Dec 2016 OP

Built with money made by short-selling the market before the Great Crash. tenorly Dec 2016 #1

Nothing wrong with short-selling, per se. It can be desirable and is very legitimate. Bernardo de La Paz Dec 2016 #2

Short sellers are also the ones supporting the market by buying during crashes to lock in profits! Lucky Luciano Dec 2016 #10

A tip of the hat KT2000 Dec 2016 #3

It's amazing how fast they built it. rug Dec 2016 #4

4 men died doing it. TeamPooka Dec 2016 #6

My father worked building that Empire. State Buildiing Teacheral Dec 2016 #8

Post removed Post removed Dec 2016 #5

Wow it went up fast. I thought it took years to build. MarkCross7 Dec 2016 #7

The United Steelworkers of America OxQQme Dec 2016 #9

tenorly

(2,037 posts)

1. Built with money made by short-selling the market before the Great Crash.

Reply to rug (Original post)

Mon Dec 26, 2016, 04:16 PM

Dec 2016

And nevertheless one of mankind's great building achievements, and an architectural icon to this day.

The world is full of duality.

Bernardo de La Paz

(48,931 posts)

2. Nothing wrong with short-selling, per se. It can be desirable and is very legitimate.

Reply to tenorly (Reply #1)

Mon Dec 26, 2016, 04:34 PM

Dec 2016

There are ways of short-selling that are wrong just like there are ways of buying that are wrong and ways of long-selling that are wrong.

In a well-regulated market, short-selling can stabilize a bubble and prevent a larger crash. By depressing prices, it helps wring out excessive enthusiasm for a stock or stocks. Thus it can actually cut losses experienced by late entrants who buy at the top.

To condemn short selling per se reveals a misunderstanding of stock markets.

As written, you did not place a value judgement on it in the post, but I wanted to be clear for those who do not understand the functionality and technical aspects of the system.

Lucky Luciano

(11,247 posts)

10. Short sellers are also the ones supporting the market by buying during crashes to lock in profits!

Reply to Bernardo de La Paz (Reply #2)

Tue Dec 27, 2016, 01:07 AM

Dec 2016

KT2000

(20,566 posts)

3. A tip of the hat

Reply to rug (Original post)

Mon Dec 26, 2016, 04:51 PM

Dec 2016

to the brave men who built it. They did not get workers comp if injured, death benefits for the family if they died in an accident, and they did not get Social Security credits.

rug

(82,333 posts)

4. It's amazing how fast they built it.

Reply to KT2000 (Reply #3)

Mon Dec 26, 2016, 04:54 PM

Dec 2016

TeamPooka

(24,201 posts)

6. 4 men died doing it.

Reply to rug (Reply #4)

Mon Dec 26, 2016, 04:55 PM

Dec 2016

Teacheral

(33 posts)

8. My father worked building that Empire. State Buildiing

Reply to TeamPooka (Reply #6)

Mon Dec 26, 2016, 06:01 PM

Dec 2016

He was a bricklayer. My mother made him quit after he was hit by a falling bucket of muriatic acid. I have a bricklayers trowel owned by a man who stepped off a platform and fell to his death.

Response to rug (Original post)

Post removed

MarkCross7

(36 posts)

7. Wow it went up fast. I thought it took years to build.

Reply to rug (Original post)

Mon Dec 26, 2016, 05:41 PM

Dec 2016

No big cranes back then.

OxQQme

(2,550 posts)

9. The United Steelworkers of America

Reply to rug (Original post)

Mon Dec 26, 2016, 06:06 PM

Dec 2016

Interesting history lesson

http://www.encyclopedia.com/social-sciences-and-law/economics-business-and-labor/labor/united-steelworkers-america

Kinda wondering if the images of those guys sitting on an I-beam eating out of their lunch buckets, smiles on their dirty faces was reality. Or propaganda photos?
A considerable number of the "high up, out there" workers were of the native tribes?

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