Η συμπεριφορά των διοικήσεων των επιχειρήσεων μπορεί να διορθωθεί εκ βάθρων, αν υπάρχει και το όχι και τόσο ευχάριστο μεν,πραγματικό δε, ενδεχόμενο τ… - John Kenneth Galbraith

One man's consumption becomes his neighbor's wish.

In fact, the Federal Reserve was helpless only because it wanted to be. Had it been determined to do something, it could for example have asked Congress for authority to halt trading on margin by granting the Board the power to set margin requirements. Margins were not low in 1929; a residue of caution had caused most brokers to require customers to put up in cash 45 to 50 per cent of the value of the stocks they were buying. However, this was all the cash numerous of their customers had.

Agreeable as it is to know where one is proceeding, it is far more important to know where one has arrived.