(Roughly) Daily

“This world’s a bubble”*…

 

From “The Bay Area to Standard English Translator.”

[A similarly silly-but-serious bonus: “An Interactive Guide to Ambiguous Grammar.”]

* alternately attributed to St. Augustine and to Francis Bacon

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As we send birthday greetings to the father of the field of sociology and the discipline of Positivism, August Comte, we might recall that it was on this date in 1929 that bearish economist Roger Babson gave a speech in which he warned, “sooner or later, a crash is coming, and it may be terrific.” He had been delivering this message for two years, but for the first time, investors listened. The stock market took a severe dip (now known in economic history as “the Babson Break”).  The next day, prices stabilized, but the equity collapse that we know as a trigger event for the Great Depression had begun.

Roger Babson

source

 

Written by LW

September 5, 2015 at 1:01 am

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