Mark Twain famously said “History doesn’t repeat itself, but it does rhyme.”
This morning, I scanned a list of Wall Street Journal headlines from September 1930…
“We have passed the low point of the depression,” says R. Proctor, President of the New England Council, on September 13, 1930.
“Over 75% of brokerage houses now recommend buying stocks,” says a headline from September 14, 1930. “Brokers, businessmen and even the general public are more optimistic.”
Another story from the same edition reports some retailers have been “caught unawares” by an improvement in business since Labor Day. Some shoppers have had “difficulty finding goods,” added the writer.
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