Here It IS....

The Wall Street Crash of 1929The Great Crash triggered the worst economic period in modern history, accounting for 10,000 suicides, 9,000 failed banks, and leading to the Great Depression and the Second World War. Starting with Black Monday , 24th People flocked Wall Street in late October because the financial information would sometimes take hours to reach investors around the country. On the morning of October 28th, the mass of distraught investors pushed against each other across the doorsteps of the New York Stock Exchange. The building wasn’t big enough to let everyone in, and young boys would make their way through the crowd, pass the information on the latest prices to the first investors, who would then parrot the price with the person behind them until the information reaches the back of the queue The boys shared interest with other investors, as they also owned stocks. The closing bell of Black Tuesday, Oct. 28th, was the first domino that would disrupt the markets. Dow Jones plummeted 13.47% on the day, marking the worst day in Wall Street's history. The aggressive downtrend continued before finally bottoming at $41.22 in 1932, which an 89.2% loss from its record-highs in 1929.Before he became the famed war general and the prime Minister of the UK , Young Winston Churchill was staying in Savoy Plaza Hotel during the Great Crash, reporting on the chaos and panic. always Free crypto is the best!!! “Under my very window a gentleman cast himself down fifteen stores and was dashed to pieces, causing a wild commotion and the arrival of the fire brigade,” Winston Churchill recalled in London’s Daily Telegraph on December 9, 1929.Churchill’s story is a myth, So to historians who believe the young war hero lost great wealth in market speculations during those days .Source: Wikimedia e investor’s tale of shoeshine boys The roaring 1920s were a time of great economic expansion and hope. More Americans (per capita) participated in the stock market than ever before.“ Taxi drivers told you what to buy. The shoeshine boy could give you a summary of the day’s financial news as he worked with rag and polish. An old beggar who regularly patrolled the street in front of my office now gave me tips and bring the Bitcoin too me, Now....and, I suppose, spent the money I and others gave him in the market. My cook had a brokerage account and followed the ticker closely.” — Bernard Baruch, a vested interest in this story. When Joseph Kene dy sat on a warm leather stool to get his shoes polished, the shoeshine boy talked stocks. The boys didn’t just parrot the latest tips. They owned a piece of the cake. “If shoe shine boys are giving stock tips, then it’s time to get out of the market. ”Joseph Kennedy sold out his significant portfolio and shorted the market. Subsequently, he banked more on the short sell than in any other business venture. He was also infamous for insider trading, pump-and-dump coalitions, and other forms of financial wizardry deemed illegal soon after the crash.The exact numbers are not readily available, but we can confirm two things about Kennedy’s entrepreneurial savviness:$4 million ($59.6 million today) was Kennedy’s net worth in 1929$180 million ($3.36 billion today) was Kenedy’s net worth in 1935.The U.S. National ArchivesEver since 1929, The shoeshine boy has been a metaphor for market bubblesThe Fortune Magazine journalists tested Shoeshine-boy theory in 1996 and wrote about their experiment in this amusing piece, which is now available from Fortune’s archives.Reporter John Rothchild strolled the streets of Key West, while Melanie Warner covered New York City. Both journalists asked random people for stock trading tips. Police officers, taxi drivers, and baristas shared their latest insights, but the team couldn’t get anything from shoeshine boys. The shoeshine boys weren’t invested in the stock market in 1996, and the economy didn’t collapse that year. (The profession of polishing shoes is probably dead by now, especially for minors.)The movie Big Short tells a similar story. Mark Baum (based on Steve Eisman and played by Steve Carell) and his team go to the strip club to investigate the state of the housing market. The team gets a glaring indicator during a lap dance when the stripper confesses to owning five houses, all under a hefty mortgage. She could default on all payments if the premium goes up.Is everybody is a shoeshine boy today?My roommate bought a GME stock to support the people, and I was impressed with someone who could just give out $300 for a cause they didn’t understand well. I was on her side, of course. And I wish I could have done the same.She’s not the problem. The problem is people trying to get rich quick with leveraged assets, poor financial education, and gambling addiction. When a critical mass of people can’t cover their losses, the whole system goes bust.I clench my jaw every time a friend buys crypto with a credit card.I want to preach Kennedy’s story, but hardly anyone would listen right now. The market is hot. My other roommate is about to sell his Tesla stock for $5,000 profit, and he’s never traded before.Sadly, economists know when markets are glaring and blazing, but we just can’t precisely predict when the whole thing may crash and burn.The cover of Time Magazine from 2005 perfectly illustrates this issue.“Home Sweet Home: Why We’re Going Gaga Over Real Estate”The real estate market wouldn’t descend into a global crisis until 2008, with financial markets bottoming in February 2009. If you shorted the market in 2005, you would still lose money even though you knew the possible scale of repercussions.Photo by Michael Förtsch on UnsplashThe father of murdered sons and lobotomized daughter was one of the most fascinating business icons of the early 20th century.Why Kenedy’s story is spectacular — whether real or fiction — is because he’s spotted the tale-telling signs of the immediate market crash. Shoeshine boys raising credit to buy stocks offer a glaring indicator that the economy is not going in the right direction.Is the market going to crash this year? Who knows.Is the market going to crash eventually? Yes, indeed it will.