We Were Warned In 1929, We Have Been Warned Now   1 comment

Roger Babson, 1875-1967, was an entrepreneur, economist and business theorist both before and after the great depression. He was accused of lack of patriotism and for selling America short for saying that there was going to be a crash and that the aftermath was going to be terrible. On september 5th, 1929, Roger Babson gave a speech where he said “Sooner or later a crash is coming, and it may be terrific.” Later on that very day, the stock market declined with about 3%. This became known as the “Babson Break”. The crash and the great depression didn’t come long after that.

So we were warned back then, but have we been warned now?

There have been a few warnings, this is a warning from Ron Paul and Max Kaiser.

http://www.youtube.com/watch?v=nltqJCjM_GA

http://www.youtube.com/watch?v=NpPX0pRxVSo&feature=related

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One response to “We Were Warned In 1929, We Have Been Warned Now

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