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November 14, 2010

80 Years Ago All Was "steady … revival for the remainder of the year."

Excerpts from the Harvard Economic Society’s Weekly Letter, 1929-1930:
Nov. 16, 1929: “[A] severe depression like that of 1920-21 is outside the range of probability.”

Jan. 18, 1930: “With the underlying conditions sound, we believe that the recession in general business will be checked shortly and that improvement will set in during the spring months.”

May 17, 1930: “General prices are now at bottom and will shortly improve.”

Aug. 30, 1930: “Since our monetary and credit structure is not only sound but unusually strong … there is every prospect that the recovery which we have been expecting will not be long delayed.”

Sept. 20, 1930: “[R]ecovery will soon be evident.”

Nov. 15, 1930: “[T]he outlook is for the end of the decline in business during the early part of 1931, and steady … revival for the remainder of the year.”

In 1931, strapped by the depression, the Letter ceased publication. -- Turning the Corner | Futility Closet

Posted by Vanderleun at November 14, 2010 9:22 AM. This is an entry on the sideblog of American Digest: Check it out.

Your Say

Cue 'Animal House' and "All is Well!"

(Which is more cheery than "Run for the exits, and if you have a small child, use it as a shield!")*

*Something like that - I've had a little too much whiskey for good recall tonight.

Posted by: Mikey NTH at November 14, 2010 8:02 PM

was barney frank at harvard in the late twenties, early thirties.

Posted by: tommy651 at November 18, 2010 10:18 PM