A Quote by Dominic Balli
When the stock market crash, a lot of people realized that the American dream was not all it was cracked up to be. They'd been living for this thing and it was kind of a façade. It wasn't real.
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After 1929, so many people had been traumatized by the stock market crash that there was a lost generation.
I think the stock market is a very dangerous place to be at the present time. In fact, the stock market today is almost identical to where it was in October 2007 and then there was a $7 trillion crash and before that in March 2000.
In the 1987 stock market crash, according to the conclusions of the official Brady report, colossal sales of stock index futures by so-called portfolio insurers - whose investment strategies depended entirely on these derivatives - greatly exacerbated the 500-point market decline.
If the stock market does go through a crisis of confidence, which I think clearly will happen one of these days, no one can predict just like you couldn't the dot com crash or the Lehman crash, but when it goes down it will go down by thousands of points because everyone will panic. No one owns this market today because they believe there's a huge sunny future for the United States economy. They're buying because they think the Fed can keep the thing pumped up, the bubble expanding.
I've learned that things change. The whole boy band thing almost turned into a stock market crash.
Smoot and Hawley ginned up The Tariff Act of 1930 to get America back to work after the Stock Market Crash of '29. Instead, it destroyed trade so effectively that by 1932, American exports to Europe were just a third of what they had been in 1929. World trade fell two-thirds as other nations retaliated. Jobs evaporated.
Yes, I've been down the pike and back. And through the years, I've heard different songs with scatting in it, and it was - always cracked me up as kind of a funny style of music, you know? When I did it, it kind of cracked me up as a comedy kind of routine.
I think there are a lot of people out there that are speculating in the stock market. They have all kinds of tech stocks or social media stocks. If you want to gamble in the stock market, I would much rather gamble on a mining stock than a social media stock.
If a lot of money goes into the stock market, it'll push up prices, making money for stock speculators. Then the insiders can decide that it's time to sell out, and the market will plunge.
The underlying strategy of the Fed is to tell people, "Do you want your money to lose value in the bank, or do you want to put it in the stock market?" They're trying to push money into the stock market, into hedge funds, to temporarily bid up prices. Then, all of a sudden, the Fed can raise interest rates, let the stock market prices collapse and the people will lose even more in the stock market than they would have by the negative interest rates in the bank. So it's a pro-Wall Street financial engineering gimmick.
The economic repercussions of a stock market crash depend less on the severity of the crash itself than on the response of economic policymakers, particularly central bankers.
There is no Croatian dream. There is no European Union dream. There is no Chinese communist dream, except maybe to get out. But there is and always has been an American dream. And the dream is possible. The dream can become real.
The thing about California is that it's kind of a dream, and I started to feel like I was living in a dream. I still feel like that. Because of that I think I've been able to realize a lot of things that were just ideas. When I was living in New York City, it's such a rat race, it's so competitive and everything is so concrete and in your face all the time. If you're like, "I'm gonna be a writer!" Everybody's like, "Yeah, you and all the other assholes on the subway." There isn't a lot of space for the detached, free-floating movement of the imagination.
When Trump was a candidate, he talked about the stock market, because, oh, the stock market was going up when Obama was president.
To be honest, I've never invested in the stock market. My grandmother used to warn us against the stock exchange. My grandfather had lost a lot money in the share market. We are a working class family.
I'm blessed to be living this dream of writing and singing, but that's not the real dream I had. The real dream was to make enough money to take care of all the pain and suffering that my mother has been through.
