Here our friend Bill Federer recalls the day that launched a terrible time in recent history, the day of the Stock Market crash of 1929. However, the world today is at another tipping point leading, I am certain, to The Greater Depression, as I have been forecasting for over four years- see our book, Goodbye America, Goodbye Britain. Foreclosures are mounting and the greatest housing disaster of recent times is still unfolding in America where the authorities, bereft of good ideas, just print money to buy their own debt. Oh dear, here we go again! Now read Bill's account.
American Minute with Bill Federer
October 29
OCTOBER 29, 1929, the New York Stock Exchange crashed.
Panic ensued as Wall Street sold 16,410,030 shares in a single day.
Billions of dollars were lost and America plunged into the Great
Depression.
In a drive to aid private relief agencies, October 18, 1931,
President Herbert Hoover stated:
"Time and again the American people have demonstrated a spiritual
quality of generosity...
This is the occasion when we must arouse that idealism, that spirit,
from which there can be no failure in this primary obligation of every
man to his neighbor."
Herbert Hoover continued:
"Our country and the world are today involved in more than a
financial crisis.
We are faced with the primary question of human relations, which
reaches to the very depths of organized society and to the very depths
of human conscience...
This great complex, which we call American life, is builded and can
alone survive upon the translation into individual action of that
fundamental philosophy announced by the Savior nineteen centuries
ago."
Hoover concluded:
"Part of our national suffering today is from failure to observe
these primary yet inexorable laws of human relationship...
Modern society can not survive with the defense of Cain, 'Am I my
brother's keeper?'"
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