These dolphins are eager to buy overpriced land!The stock exchange also became a frantic gambling zone. Traders traded "hot tips" as they fueled their addiction for instant profits, inspired by the numerous rags-to-riches stories.
Much like a dolphin, Shia LaBeouf can't wait to get those speedy profits! Also like a dolphin, I will never be able to take him seriously.
Much like a dolphin, Shia LaBeouf can't wait to get those speedy profits! Also like a dolphin, I will never be able to take him seriously.Washington did little to curb the wild speculators. In fact, the national debt had risen from about $1 billion in 1914 to almost $24 billion in 1921. To help deal with this problem, the Republican Congress created the Bureau of the Budget, the director of which helped the president put together an accurate budget report for Congress, which helped to prevent extravagant appropriations.
A ballpark, representative of the kinds of estimates made by the president for the annual budget before the Bureau was made.
A ballpark, representative of the kinds of estimates made by the president for the annual budget before the Bureau was made.Mad that his precious fractions of his vast wealth were going to the government we was partially in charge of, Secretary of the Treasury Mellon let the tears trickle down from his eyes. Which gave him an idea. So hide yo excess-profits tax, hide yo gift tax, and hide yo surtax, 'cuz he's reducing everything up in here (granted that you hold a high income job).
Mellon was able to reduce the national debt by about $10 billion. However, some of his critics argue that he could have reduced it by even more, and that if he had absorbed more of the national income, then he could have reduced crazy-go-nuts speculation.
I didn't want to, but you made me!
I didn't want to, but you made me!
It's interesting to lean about the history of that curious part of business that's always jsut been "there"- Wall street. Thanks for a good read, and many excellent and appreciated references! "He's clmbin' in your windows, he's eatin' your people up..."
ReplyDeleteYour post really simplified this section. I did not really understand the section while reading it in the book, since economics is not my strongest point. I like the dinosaur pic, too!
ReplyDeleteHa, Shia LeBeouf! I haven't been able to take him seriously since he was on Even Stevens. I really liked the post and it explained what happened a lot better than the book did. Great post!
ReplyDelete"So hide yo excess-profits tax, hide yo gift tax, and hide yo surtax, 'cuz he's reducing everything up in here "
ReplyDeleteI'm pretty sure that right there was my favorite part of the whole post. I love it! Shout out to Antoine Dodson, yay! You did an excellent job summarizing the disgusting monetary policy that led to our huge debt. Wonderful!
Congratulations, Nick Tourville, you have finished the job.
Wall Street: Money Never Sleeps is such an accurate representation of the the stock market in what it is then and what it is now. Also, Mellon did all he could to eliminate the debt so made props to him. Mad props to you as well. Nice post.
ReplyDeleteI wonder how long Antoine Dodson will stay around. Very interesting and informative post that made a bit more sense than the book
ReplyDeleteI enjoyed your humorous comments, especially the captions to the images, which were, of course, quite entertaining. I think it helps to liven up the often boring financial-esque sections with some entertaining ways of remembering them. Nice post.
ReplyDeleteYes to all of you, with whom I agree! This post has made for me a concise packet of information to commit to my memory facilities. We are all in your debt (half because of the doplhins buying the overpriced land, half for the reason enummerated above).
ReplyDeleteMerci Nick! J'aime ton poste! I think the best part was when you compared Shia LaBeouf to a dolphin.
ReplyDeleteThis part of history is important. it allows for mistake to be made, yet furutre generations will learn from these mistakes and make the stock market stronger. I think many people will be happy with a strong stock market, but me, Im indifferent.
ReplyDeleteAll I know is that I like dolphins. I'm not sure if it's ok for me to endorse you likening them to misguided real estate investors and/or young Mr. Lebeouf. I'm not even checking to see if I spelled his name right. I hope I spelled it wrong. Anyway, Thanks for a good post that had the additional side effect of allowing George, future financial guru, to offer in his comment FREE insights into the stock market of the "furutre." What!? This means there's more to worry about that just the future :)
ReplyDeleteCa c'etait mon favoris post sur tous! Merci! Mais je pense que lebeouf besoinde plus de credit que tu lui donne. Merci encore. Je n'aime pas l'argent (jusque quand c'est avec des vetements).
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