The most famous economic depression was The Great Depression that followed the stock market crash of October 24, 1929.
The Great Depression lasted for over a decade, and caused unemployment and poverty levels to skyrocket. The U.S. and other governments needlessly deepened and prolonged the Great Depression with poorly thought out legislation that hurt trade and hindered investment.
The mid-1930 Smoot-Hawley tariff act in the U.S. bears a lot of the responsibility for the depth of the 1930s Depression. That’s why we cringe a little every time a U.S. politician says anything that smacks of protectionism. Since then, however, governments have created other programs-such as unemployment insurance, and deposit and mortgage insurance, for instance-that tend to stabilize the economy in a recession.
The 1929/1930 recession spiraled into a long-lasting depression because lots of governments around the world followed economic policies that are now near-universally recognized as guaranteed economic disasters. These include competitive devaluations and hindrances to world trade, which now get a lot of the blame. They also include the rise of fascism in Europe, and President Roosevelt’s heavy-handed attempts to control and dictate to business, and pack the U.S. Supreme Court with additional justices that would stop his legislation from being declared unconstitutional.
All this made business and investors wary of investing in anything that tied their money down. Capital investment dried up and economic activity and employment dried up with it. Few governments are likely to repeat the mistakes of the 1930s, so another depression, and a prolonged bear market is unlikely. At TSI Network we recommend using our three-part Successful Investor strategy:
The most successful investors don’t just “buy and hold,” they “buy and watch closely.” This strategy has been one of the foundations of success for us and our wealth management clients for decades. Download 10 Stocks to Buy and Hold Forever for FREE, right now.
RESMED INC. $117 (New York symbol RMD; Manufacturing & Industry sector; Shares outstanding: 142.7 million; Market cap: $16.7 billion; Dividend yield: 1.3%; Takeover Target Rating: Medium; www.resmed.com) designs, manufactures and distributes CPAP (nasal continuous positive airway pressure) medical devices. They are used to treat patients with sleep apnea,… Read More
Here’s a new addition to stocks we cover in our Spinoffs, Takeovers and Special Situations newsletter.
Sleep apnea gets far less media attention than other health issues such as high blood pressure, obesity, diabetes, depression, stroke and heart problems. Public and private health insurers have begun… Read More
When investor questions are raised about inflation, the conversation often turns toward the possibility of inflation and interest rates returning to the peaks of the 1970s and 1980s
When we talk to serious, Successful Investors, few ask, “Do you think the central banks will raise rates… Read More
Doom and gloom stock predictions rarely if ever come true, but that doesn’t keep some investors from moving out of the market.
When listening to stock predictions, especially gloomy ones like those below, keep in mind that nobody can consistently predict the future. Also remember that… Read More
The bond market outlook can provide a false sense of security. In fact, it puts investors at risk of capital losses if inflation or interest rates rise.
The bond market outlook had a lot of investor appeal in the turbulent years of the 1930s and 1940s… Read More
When I talk to serious, successful investors, few ask, “Do you think the central banks will raise rates two or three times by a quarter-point before the end of the year?” or “Do you think inflation will hit 3% in the next year?” They are… Read More
Every stock market recession has a cause. And the recessions that cause them don’t come out of nowhere. However, they are difficult to predict in advance. Far better to cut your risk by investing in a well-balanced portfolio of stocks that meet our Successful Investor… Read More
Here’s the text of the most-recent letter I sent to our Portfolio Management clients in late April:
“To succeed as an investor, you need to focus on basic principles, and downplay or ignore trivia. Basic principles provide the fuel for market booms that go on for… Read More
Here are a couple of conversations I’ve been involved in recently. Does any of it sound familiar?
Conversation with a retired engineer. He asked, “What do you think about this driver-less cars business? Has anybody even considered how many people this will throw out of work?… Read More
Looking back over the past few decades, I’d say that some of my most useful and profitable investment principles came from things I’ve read or experienced that had nothing to do with the stock market.
I’ve already written about my first experience as a substitute newspaper… Read More
Learn everything you need to know in 'The Canadian Guide on How to Invest in Stocks Successfully' FREE Special Report from The Successful Investor.
How to Invest In Stocks Guide: Find 10 factors that make your investments safer and stronger.
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What personal information do we collect?
The information we receive from customers helps us personalize and continually improve your online experience at TSI Network. TSI Network may collect personal information online for all legal purposes, which include, but are not limited to:
Information You Give Us: We receive and store any information you enter on our website or give us in any other way through sign-up forms or ordering forms for publications and services. You can choose not to provide certain information, but then you might not be able to take advantage of many of our services and features. We use the information that you provide for such purposes as responding to your requests, customizing your web browsing experience for you, improving our website, and communicating with you.
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Does TSI Network Use the Information It Receives?
"Contact Us" and Comment Features: TSI Network encourages visitors to its websites to contact us with questions and comments. Email addresses and other information of persons using these features may be collected in order to facilitate our responses to those inquiries.
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Except as provided herein, TSI Network will not sell or rent personal information about you to unaffiliated third parties.
We may disclose personal information you have provided through our websites, for the above purposes, to persons or companies that we retain to carry out and other activities for which you have registered or in which you have otherwise asked to participate. In particular, we may for these purposes transfer information to any country (including the USA and other countries which may not offer the same level of data protection as Canada). We also will disclose personal information if required by law, including compliance with warrants, subpoenas or other legal processes.
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TSI Network does everything possible to prevent unauthorized intrusion to its websites and the alteration, acquisition or misuse of personal information by unauthorized persons. Notably passwords submitted by users of our websites are encrypted using encryption mechanisms. However, TSI Network cautions visitors to its websites that no network, including the Internet, is entirely secure. Accordingly, we cannot be responsible for loss, corruption or unauthorized acquisition of personal information provided to our websites, or for any damages resulting from such loss, corruption or unauthorized acquisition.
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Changes to this Policy
This Policy is the sole authorized statement of TSI Network's practices with respect to the collection of personal information through TSI Network's websites and the subsequent use and disclosure of such information. Any summaries of this Policy generated by third party software or otherwise (for example, in connection with the "Platform for Privacy Preferences" or "P3P") shall have no legal effect, are in no way binding upon TSI Network, shall not be relied upon in substitute for this Policy, and neither supersede nor modify this Policy.
TSI Network may revise this Policy from time to time.
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