Wall Street film
Here is a Wall Street movie on the great crash of 1929. It is worth the investment in time just based on old photos. If you have an interest in Economic history than I do, then you will like it. If you have an interest in the stock market, you will love it.
It is not as flashy as Wall Street 2 the movie but you can watch for free a very professional production another Wall Street movie for free online. See how many parallels you can find for today.
I worked in downtown Manhattan in the roaring 80s. It was a lot of fun. Seeing the history at any period, not just the crash and the Great Depression is interesting. It is the center of the world. Think about it at any given time; most of the public assets of the world on the auction block.
Credit boom, asset speculation and Wall Street crash. Is this 1929 or 2007, you decide. The causes of the great depression are clear now that we lived through the great recession (or still living though it). It took this experience to understand the past better.
How to fix the crisis, recession, crash
What is unclear is the remedy to many. I am clearly in the camp to allow the markets to work.
- Get rid of the Fed
- Balance the Budget
- Reduce taxes
- Gold Standard
This is not only based on my experience studying the history of economics but also my observation.
I have to pay my taxes soon. This money, to me, goes into a black hole. I have never received any real benefit from the government. Someone else takes my money and distributes it to another person. I would instead do this via charity, than force.
In Europe, at least I get free health care, pension, and University education, etc. In the USA I pay. I would either prefer a real European social state or a free market that would allow things in the USA to be cheaper and pay scales to be higher.
Since we are talking about America, not France, I think for the American way of thinking, free-market capitalism still is the best solution. That includes letting greedy banks fall, and deflation happen. I know it sounds radical, but it is in line with many great economists.
Wall Street or Main street – money never sleeps
Today you do not need to be on Wall Street to make money. It is like web 2.0; you do not need to have a blue suit and white shirt and work for IBM like in the 1960s to make money. You can do it in your home, working online, for example. The world is becoming decentralized, and so is the transmission of information. You can have the edge over the greedy Wall Street bankers with information and knowledge. Stop thinking like an old school investor or businessman from 1929 or 2007.
There is unlimited amount of money you can make trading stock and being an owner of a process. It does not have to be like outlined in the Wall Street 2 the movie or this above PBS film on Wall Street 1929. If you invest with your eyes open you can make money in stocks. You can avoid the pitfalls of most professional investors.