Charting Stocks

1929 Wall Street Stock Market Crash

Note: The shoe shine story was about Joseph Kennedy not Bernard Baruch.
Richard Whitney, President of the New York Stock Exchange peddling fear. National Securities Exchange Act will destroy the stock market and capital.

Morgan Stanley’s UK equity strategist Graham Secker painted a bleak economic picture for the United Kingdom. In his morning forecast, Mr. Secker warned that UK profits could fall by 60% in the current downturn – a worse performance than the great depression of the 1930s.
“We now forecast UK profits [will] fall by 60% across 2008 [...]

Security Savings Bank: 16th Bank Failure of 2009

Security Savings Bank of Henderson, Nevada  was closed by regulators Friday, marking the 16th bank failure of 2009. The Federal Deposit Insurance Corporation said the failed bank’s deposits have been assumed by Las Vegas-based Bank of Nevada. Security Savings Bank had $238.3 million in total assets and $175.2 [...]

A few select quotes during the depression years of 1929 to 1931.
Notice the “Expert” opinions which convey optimism, the bank bailouts, government assurances, the Hoover (Paulson) plan,  and the deliberate attempt by the main stream media to manufacture consent for bailing out Wall St. Has anything changed?
“There is no cause [...]

Dailymail.co.uk reports that a jobless Brit has resorted to standing at a busy motorway junction advertising for work on a 1930s style sandwich board. 39 year old engineer, Jason Fruen,  took the drastic action after being laid off five months ago.
Everyday from 5.30am, the father-of-one had been standing for four hours at Junction 9 of [...]

Oregon’s Silver Falls Bank was closed Friday by the Oregon Department of Consumer and Business Services, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver.
The Federal Deposit Insurance Corporation entered into a purchase and assumption agreement with Citizens Bank, which will assume all of the deposits of the failed Silver Falls bank. Silver Falls [...]

Pinnacle bank of Oregon becomes the 4th bank failure this weekend and the 13th this year.
The Oregon Division of Finance and Corporate Securities closed Pinnacle bank this Friday. The FDIC has announced that Washington Trust Bank in Spokane, Washington has agreed to assume all of the deposits of the failed bank.
Pinnacle Bank had assets of  [...]

The FDIC announced the closing of a third bank today. Illinois based Corn Belt Bank and Trust Company was seized by regulators today. Corn Belt Bank becomes the 12th bank to fail in 2009 and the 37th since the start of the depression.
The bank  had $271.8 million in assets and $234.4 million in deposits. The [...]

The Federal Deposit Insurance Corp. (FDIC) announced  the failure of two more US banks (#10 and #11 for the year).

Nebraska -based Sherman County Bank was closed by regulators Friday, marking the 10th bank failure of the year. Sherman County Bank had roughly $129.8 million in assets as of Feb. 12, and $85.1 million in deposits. [...]

The Labor Department reported that the US unemployment rate jumped to 7.6% and nonfarm payrolls fell by the largest amount in 34 years.
Nonfarm payrolls dropped by a seasonally adjusted 598,000 in January, after a revised loss of 577,000 in December.
January marked the largest payroll loss since December 1974, according to a survey of workplaces. [...]