Zeev's Turnips Patch-No Politics (ZEEV)

[lee kramer]

Hi Joe: I just have trouble comparing 1929 with today. Very few people traded back in '29 and margin rates were something like 5-10%. The Fed was in it's infancy, the government was not an inflation engine. Sure, things got hoopy in the market; that surely was a bubble that was unsustainable. But I'm open to any counter argument.