Forget the Depression This is Exactly Like The Financial Panic of 1907

I was doing a little more research to find parallels between what is going on now and what has happened in the past. I think I have found a good one

en.wikipedia.org...

Now as we see from this the market created a double bottom and then went up from there. I think we will do the same now. I mean when you look at the panic of 1907 and what is going on now there are many similarities. So if I had to take a guess the dow will not go to 4k as some says. I feel 7k at the lowest. What say you?

I hope you're correct, maybe we've seen the worst of it and things will only get better from here on out.

It would be nice. I do not believe the NWO will drop their agenda of a one world currency but if it 'has to happen' it would be nice to do it as painlessly as possible.

I will investigate this further to see what correlations you see.

Unfortunately 1907 didn't find the economy tied in to and bogged down by the derivatives market. That's the wildcard that makes what's happening now so hard to predict; we don't really have anything historically to compare it to.

Check out 1873 and you might see just as many similarities, BTW. The notable "Panics" have a lot in common - bubbles growing too much too fast (housing, railroad, whatev) and popping in a devastating fashion.

reply to post by mybigunit



Good morning:

From your link:

"Primary causes of the run include a retraction of market liquidity by a number of New York City banks, loss of confidence among depositors, and the absence of a statutory lender of last resort.

The crisis occurred after the failure of an attempt in October 1907 to corner the market on stock of the United Copper Company. When this bid failed, banks that had lent money to the cornering scheme suffered runs that later spread to affiliated banks and trusts, leading a week later to the downfall of the Knickerbocker Trust Company—New York City's third-largest trust."

Even though though there was a bank run in 1907, the circumstances which caused it back then are very different to that of today.

Today's crises is the unwinding of a system that took on too much debt and the de-leveraging on such a grand scale will take years to complete.

Just M.O.

JK

I've also heard our current period mentioned to be similiar to financial panics

1. in the mid 1800's in the u.s.a

2 as well as similiary to the italian banking crisis (medici bank) that preceded the dark ages