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THOUGHT FOR THE DAY!

The U.S. Strategic Bombing Survey, which interviewed 700 Japanese military and political officials after the war came to this conclusion: "Based on a detailed investigation of all the facts and supported by the testimony of the surviving Japanese leaders involved, it is the Survey's opinion that certainly prior to 31 December 1945, and in all probability prior to I November 1945, Japan would have surrendered even if the atomic bombs had not been dropped, even if Russia had not entered the war, and even if no invasion had been planned or contemplated."

 

Russia's Crash `Pretty Much the Same' as 1929

The 67 percent decline in Russian equities this year resembles the U.S. stock market crash of 1929 because of the damaging effect of highly leveraged investors, the head of Russia's Micex Stock Exchange said.

Russian stocks have suffered three days of declines greater than 14 percent in the last month, spurred in part by leveraged investors reducing their holdings after margin calls from their brokers. Speculators making bets with borrowed money also contributed to the 1929 stock-market crash in the U.S.

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Posted on Oct 10, 2008 at 06:28
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