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NY Times reports the deepest financial crisis since the Great Depression has prompted countries that had snubbed the euro to take a fresh look at the virtues of the common European currency. After turmoil in the currency markets nearly destroyed the Icelandic krona and undermined the Polish zloty, those two countries are rethinking their opposition to the euro. More surprisingly, Denmark — a nearly picture-perfect model of economic management — looks more likely to embrace the euro, after rejecting it twice in the past. Denmark was forced to use high interest rates to defend its currency, the krone, against speculative attack. The effects of those higher rates are now rippling through the Danish economy, contributing to a change in attitudes. "Denmark is so extremely sound by all macroeconomic standards," said Thomas Mirow, president of the European Bank for Reconstruction and Development. Its changing stance on the euro "says a lot about stand-alone options in difficult times."

Posted: 12/1/2008 7:46:28 PM by StockMarketFunding | with 0 comments



The credit crisis has shattered U.S. consumers' faith in stock investing,  financial institutions, the stock brokerage system, and the entire financial system. American investors and traders are at extreme losses, the US financial banking system has shut down their lending practices to the US consumer. StockMarketFunding.com has opened its financial reserves to the American public who want to take accountability and responsibility for their personal finance and financial planning through a proactive approach to online trading and long-term investing.


The Wall Street Crash of 1929 also known as the ’29 Crash, the Crash of 1929, the Great Crash of 1929, the Great Crash of October 1929, the Great Wall Street Crash of 1929, 1929 Great Crash, or the Great Crash, was the most devastating stock market crash in the history of the United States, taking into consideration the full extent and longevity of its fallout.

Three phrases - Black Thursday, Black Monday, and Black Tuesday - are used to describe this collapse of stock values. All three are appropriate, for the crash was not a one-day affair. The initial crash occurred on Black Thursday (October 24, 1929), but it was the catastrophic downturn of Black Monday and Tuesday (October 28 and 29, 1929) that precipitated widespread panic and the onset of unprecedented and long-lasting consequences for the United States. The collapse continued for a month.

Economists and historians disagree as to what role the crash played in subsequent
economic, social, and political events. The Economist writes, "Briefly, the Depression did not start with the stockmarket [sic] crash." In 1929, The Economist wrote, "Can a very serious Stock Exchange collapse produce a serious setback to industry when industrial production is for the most part in a healthy and balanced condition?" The crash in America came near the beginning of the Great Depression, a period of economic decline in the industrialized nations, and led to the institution of landmark financial reforms and new trading regulations.

At the time of the crash, New York City had grown to be a major metropolis, and its Wall Street district was one of the world's leading financial centers.The New York Stock Exchange (NYSE) was the largest
stock market in the world.

The Roaring Twenties, which was a precursor to the Crash, was a time of prosperity and excess in the city, and despite warnings against speculation, many believed that the market could sustain high price levels. Shortly before the crash, Irving Fisher famously proclaimed, "
Stock prices have reached what looks like a permanently high plateau." The euphoria and financial gains of the great bull market were shattered on Black Thursday, when share prices on the NYSE collapsed. Stock prices fell on that day and they continued to fall, at an unprecedented rate for a full month.

In the days leading up to Black Tuesday, the market was severely unstable. Periods of selling and high volumes of trading were interspersed with brief periods of rising prices and recovery.
Economist and author Jude Wanniski later correlated these swings with the prospects for passage of the Smoot-Hawley Tariff Act, which was then being debated in Congress. After the crash, the Dow Jones Industrial Average (DJIA) recovered early in 1930, only to reverse again, reaching a low point of the great bear market in 1932. The Dow did not return to pre-1929 levels until late 1954, and was lower at its July 8, 1932 level than it had been since the 1800s.

Posted: 10/19/2008 5:37:29 PM by StockMarketFunding | with 0 comments