Beating the bear
What actually caused the economic crisis in the United States in 1929? Why did a similar disaster occur again in 2008-2009? Today's news sources are filled with misinformation about what is happening in America's financial world and why--perpetrating myths and putting people's hard-earned funds at risk. Twice in the last century, the usually stalwart economy of the United States has crumbled--first in 1929, when the stock market crash that led to the Great Depression hit, and again with the financial market meltdown of 2008-2009 that is still crippling much of America. While it is still too soon to state unequivocally how this latest economic disaster came about, it is possible to theorize that much of what has happened could have been foreseen and even avoided--just as it could have been in 1929. This book accurately describes the economic situations in the United States before the 1929 and 2008-2009 stock market crashes, and carefully examines the causes of both financial crises. This comprehensive assessment of both time periods allows readers to better grasp the present market situation, understand the connection between the explosion of the subprime mortgage market and the current state of the economy, and more wisely forecast the future.
