General Discussion

TheBlackAdder

(29,981 posts)

17. Yep. One of the primary causes was only 10% required to place stocks, most was deferred on credit.

Fri May 4, 2018, 08:24 AM

May 2018

Everybody went wild in speculations because they all thought they would be millionaires. They overextended their stock buys because they only needed to put 10% down, and float the other 90% for a short while. Massive short-term stock purchasing occurred, as people were trying to flip their profits. This drive fueled massive gambling addition. When the market went to shit, there was no money to back any of those stock trades up with, and the house of cards went collapsing.

Edit history

Please sign in to view edit histories.

Recommendations

0 members have recommended this reply (displayed in chronological order):

44 replies

= new reply since forum marked as read

Highlight:

1,100 economists warn that Trump is repeating one of the biggest mistakes of the Great Depression [View all] mfcorey1 May 2018 OP

Well well well.. you know where CONdon and Cha May 2018 #1

drumpf is totally unfit to be President and is already wrecking our economy. democratisphere May 2018 #2

Tourism down 4-7%, Chinese stopped buying $13,000,000,000 of soybeans (13 billion $). . . nt Bernardo de La Paz May 2018 #10

This is only the beginning of drumpf's massive economic and financial destruction. democratisphere May 2018 #14

they sit silent and do nothing joshdawg May 2018 #23

Back in my home town (an old oil town) there was this maid to a very wealthy family. LiberalArkie May 2018 #34

I'm sure Spanky 'Rump will read and heed. Yonnie3 May 2018 #3

This means... N_E_1 for Tennis May 2018 #4

Before his mind wanders... angrychair May 2018 #32

It's not a mistake. It's a crime. raging moderate May 2018 #5

History repeats itself...and guess who's doing it? SWBTATTReg May 2018 #6

the republican family-values role model* thinks he's an economic genius Achilleaze May 2018 #7

One of Hillary's most admirable traits rock May 2018 #8

I disagree with that...Smoot Hawley was passed in 1930 by the Republicans and it has long Demsrule86 May 2018 #9

It definitely had a giant effect on the Depression. Bernardo de La Paz May 2018 #12

We don't, but I fear there are some in this country who do, and they hold a lot of PatrickforO May 2018 #33

Yep. One of the primary causes was only 10% required to place stocks, most was deferred on credit. TheBlackAdder May 2018 #17

The term "depression" had been in use for DECADES before 1929-39 Bernardo de La Paz May 2018 #18

They used to be called panics...for years. Demsrule86 May 2018 #37

That's what I quoted. But you said the word was invented for Great Depression as Republicon dodge. Bernardo de La Paz May 2018 #40

The point was that they were mostly called panics and had been use rarely before the Demsrule86 May 2018 #41

The Great Depression was so much more than the stock market IronLionZion May 2018 #24

Look back DownriverDem May 2018 #30

It was the stock market that began the great depression...buying on margin particularly. Demsrule86 May 2018 #36

I've spent much of my career at 2 agencies FDR created during the depression IronLionZion May 2018 #39

No question...you have a point...but the direct cause for the stock market crash that led to the Demsrule86 May 2018 #42

Swamp-dwelling elitists. Who cares? /s NT mahatmakanejeeves May 2018 #11

The more damage, the better dalton99a May 2018 #13

A recession or depression would gladden the heart of puppet-master Putin. . . . nt Bernardo de La Paz May 2018 #20

I'm not so sure about that FakeNoose May 2018 #26

But Trump bragged about his real estate coups after the 2008 McCamy Taylor May 2018 #15

2007 did not start a Depression. It was a Great Recession. Bernardo de La Paz May 2018 #19

But Trump is getting credit for the economy. I do not see a strong opposition. Doodley May 2018 #16

Opposition is up to us, the persistent resisters. Have to get the word out. Talk it up. Bernardo de La Paz May 2018 #21

Party like its 1928 spike jones May 2018 #22

And it is so sad for the people of the United States that it is happening now! mfcorey1 May 2018 #27

We've just had another favorable job report come out today (Thanks, President Obama!) MrScorpio May 2018 #25

You know, I really doubt those official low unemployment numbers! LongTomH May 2018 #29

This will only ensure he imposes tariffs. DemocratSinceBirth May 2018 #28

Demagoguery Trumps Reality Martin Eden May 2018 #31

No one fucks up the economy as well as me - Donald J Trump Yo_Mama_Been_Loggin May 2018 #35

Repugs always love a good Depression. Mc Mike May 2018 #38

What do 1000 economists know? Chump-in-Charge is a stable genius. Hassler May 2018 #43

Chump in charge is an illiterate fool! mfcorey1 May 2018 #44