S7 E6: Thirty Glorious Years
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Stock Market Speculation in 1920s
- In the 1920s, stock speculation became rampant, fueled by a booming economy and easy credit.
- Arthur Robertson, a stock speculator, recalls witnessing widespread speculative fever, with people like shoeshine boys buying large amounts of stock with minimal down payments.
- This excessive speculation, driven by hope and fueled by debt, created a classic bubble in the stock market, with prices far exceeding their actual value.
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