Word: disasterâ
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Dates: during 1929-1929
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Causes of this undermining were: 1) Warnings from the Federal Reserve Board and other prophets of disaster???warnings which, scoffed at when given, nevertheless filled the Market with a conviction of sin. 2) A period of almost two months (since the Babson Break early in September) in which it had taken strychnine-injections to push quotations ahead. The September slump (currently almost ignored in favor of the peculiar theory that the Market crashed without warning) was of tremendous importance in its indication that a Market which could survive only by constant rises had reached the limits of its climb...
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