Please help support WRH by visiting our advertisers!

THOUGHT FOR THE DAY!

"There is no free lunch for the creature comforts delivered by the corporation. The ravaging of nature, the erosion of economic security, the destabilization of the family, the commercialization of all human relationships, the corruption of democracy, and the dissipation of spiritual meaning in the face of rampant materialism - these are all part of the cost of the corporate system as we know it. And they add up to a very high price to pay for the bounty of the great American shopping mall."-- Charles Derber, Corporation Nation, p178

 

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.

Comments