Tag Archives: Stock Market
Lessons from the Great Depression of the 1930s have not been learnt
Lessons from the Great Depression of the 1930s have not been learnt
- Stephen King (HSBC, Group Chief Economist & Global Head of Economics & Asset Allocation)
We are living through financial history of the tragic kind. As of Friday's close, America's stock market had declined in value by well over 40 per cent compared with its peak a year ago. Already, this ranks as the fifth biggest stock market decline since the 1920s, beaten only by the 1929 Wall Street Crash (and the ensuing Depression in the early-1930s), the technology collapse of 2000, the crash that occurred after the Yom Kippur War (and quadrupling of oil prices) in 1973 and, finally, Read more ...
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