The worst continued to worsen. What looked one day like the end proved on the next day to have been only the beginning. Not a commentary on the panic that gripped global stock markets yesterday but a brief excerpt from JK Galbraith's book on the Great Crash of 1929. Galbraith was writing about events that took place nearly 80 years ago but his analysis could equally be applied to the turbulent events of the past couple of weeks. The difference, so far, between then and now is that the Wall Street Crash was the catalyst for the Great Depression, which produced dire political as well economic consequences on a global scale.
The worst continued to worsen. What looked one day like the end proved on the next day to have been only the beginning. Not a commentary on the panic that gripped global stock markets yesterday but a brief excerpt from JK Galbraith's book on the Great Crash of 1929.
