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Getting to Know the Unknowable
At the London School of Economics in October, the Queen described the credit crunch as “awful” and asked a group of eminent economists the question that everyone wants the answer to: “Why did no one see it coming?” One flustered economist apparently replied, “Someone was relying on somebody else, and everyone thought they were doing the right thing.”
Excessive Leverage Caused 1929 Stock Market Crash and 2008 Economic CollapseEven though many years separate these two painful events the common denominator of what caused both, is the same. Back in the 1920’s you could put one dollar down and buy ten dollars worth of stock.