History Rhymes - 1930

History Rhymes. Or is it "those who ignore history are doomed to repeat it."

Did anyone Listen to Helicopter Ben today?

Did you know GM also did a reverse stock split in the 1930's?

# "For the immediate future, at least, the outlook (stocks) is bright."
- Irving Fisher, Ph.D. in Economics, in early 1930

# "...there are indications that the severest phase of the recession is over..."
- Harvard Economic Society (HES) Jan 18, 1930

# "There is nothing in the situation to be disturbed about."
- Secretary of the Treasury Andrew Mellon, Feb 1930

# "The spring of 1930 marks the end of a period of grave concern...American business is steadily coming back to a normal level of prosperity."
- Julius Barnes, head of Hoover's National Business Survey Conference, Mar 16, 1930

"... the outlook continues favorable..."
- HES Mar 29, 1930

# "... the outlook is favorable..."
- HES Apr 19, 1930

# "While the crash only took place six months ago, I am convinced we have now passed through the worst -- and with continued unity of effort we shall rapidly recover. There has been no significant bank or industrial failure. That danger, too, is safely behind us."
- Herbert Hoover, President of the United States, May 1, 1930

"...by May or June the spring recovery forecast in our letters of last December and November should clearly be apparent..."
- HES May 17, 1930

"Gentleman, you have come sixty days too late. The depression is over."
- Herbert Hoover, responding to a delegation requesting a public works program to help speed the recovery, June 1930

# "... irregular and conflicting movements of business should soon give way to a sustained recovery..."
- HES June 28, 1930

# "... the present depression has about spent its force..."
- HES, Aug 30, 1930

# "We are now near the end of the declining phase of the depression."
- HES Nov 15, 1930

# "Stabilization at [present] levels is clearly possible."
- HES Oct 31, 1931