June 25, 2009

1930

There's a blog (News from 1930) that posts a selection of articles from the Wall Street Journal from each week 79 years ago.
One bullish article from June 1930 made the following point:

"Historically there has been no case in this country since 1900 when business failed to turn upward the year following a depression."

The implication was that, since the depression was over, as almost everybody thought at the time, business was bound to do better sooner or later. A 3-year depression was not even considered a possibility.

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