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xhail said: I once heard that big players were purposely pushing a lot of crap stock back then to drive up the prices and then sell out quickly, cashing in, which was partly responsible for the crash.

As opposed to say, internet startups with no profits and no sign of any profits any time soon? <grin>

Seriously, the world economy was as global, if not more so back around 1900. The 1920's were a time rapid technoligical innovation (cars, radios, etc.) but also of public resistance to trade. The Smoot-Hawley tariffs are often credited with helping to extend the Crash of 1929 into the Great Depression. In the 20's, there were dozens of car companies in the US, now there are 3. In the 20's, all sorts of businesses tried to attach "Radio" to their names or products (Think "Radio Flyer" wagons for kids.).

This is NOT the first time new technologies have transformed America. There ARE lessons to be learned from the past. Sure we are now blessed with better regs and better regulators, but I fear the business cycle is still alive (and very well rested!).

The Economist magazine is a great source those interested in the "Bubble" side of the argument. Some stuff is free at their web site, Back issues should be at any decent library. PS, The Economist is great for traveling, more editorial content per page than anywhere, yet the thinnest mag on the shelf. Takes a looong plane trip to read one from cover to cover.

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