On Monday, October 10, 2022 at 12:24:22 PM UTC-4, Paul S Person wrote:
> On 9 Oct 2022 19:04:15 GMT, t...@loft.tnolan.com (Ted Nolan <tednolan>)
> wrote:
> >In article <thv5hs$i855$1...@dont-email.me>,
> >Dimensional Traveler <dtr...@sonic.net> wrote:
> >>On 10/9/2022 10:00 AM, Robert Woodward wrote:
> >>> In article <thsqhr$988r$2...@dont-email.me>,
> >>> Dimensional Traveler <dtr...@sonic.net> wrote:
> >>>
> >>>> On 10/8/2022 10:01 AM, Robert Woodward wrote:
> >>>>> In article <nq73kh1f5t3bu6das...@4ax.com>,
> >>>>> Paul S Person <pspe...@old.netcom.invalid> wrote:
> >>>>>
> >>>>>> On Fri, 7 Oct 2022 15:33:56 -0700 (PDT), Quadibloc <jsa...@ecn.ab.ca>
> >>>>>> wrote:
> >>>>>>
> >>>>>>> On Thursday, October 6, 2022 at 10:57:31 AM UTC-6, Robert Woodward wrote:
> >>>>>>>> In article <14d0cf03-3b09-4bb1...@googlegroups.com>,
> >>>>>>>> Quadibloc <jsa...@ecn.ab.ca> wrote:
> >>>>>>>
> >>>>>>>>> Ah, but perhaps it's because the Republican Herbert Hoover succeeded
> >>>>>>>>> him.
> >>>>>>>
> >>>>>>>> Ahem, Warren Harding elected in 1920. Followed by his VP Calvin Coolidge
> >>>>>>>> when Harding died of a heart attack; Coolidge elected in his own right
> >>>>>>>> in 1924. Hoover elected in 1928 just in time for the bill for several
> >>>>>>>> decades of idiocy* to come due.
> >>>>>>>
> >>>>>>> Ah. Well, I _think_ I've heard that the stock market crash of 1929 had
> >>>>>>> its
> >>>>>>> roots in the excesses of the "Roaring 20s". The stock market was rising,
> >>>>>>> and that led to a lot of people making very speculative purchases, and
> >>>>>>> then
> >>>>>>> other persons purchased stock at even higher prices, thinking that the
> >>>>>>> rise
> >>>>>>> caused by speculation meant an increase in real value.
> >>>>>>
> >>>>>> IIRC, we were taught (in High School or maybe Junior High) that the
> >>>>>> /main/ problem was people buying "on margin" -- up to 90% of what they
> >>>>>> invested was not their money but fronted by the broker. When they
> >>>>>> lost, they couldn't pay it. Hilarity ensued.
> >>>>>>
> >>>>>
> >>>>> Except that the stock market crash didn't have that much to do with the
> >>>>> Great Depression. It was the great wave of bank failures that started in
> >>>>> 1930 that was responsible. AFAICT, ordinary banks didn't have that much
> >>>>> money in the stock market but about a third of them failed anyway. Why
> >>>>> is the subject of the 1000 word essay that I am too lazy to write (and
> >>>>> research). BTW, I suspect somebody else has already done the work.
> >>>>>
> >>>> Short version is the banks didn't have enough cash on hand to cover all
> >>>> the accounts being closed.
> >>>
> >>> Ah, the reason the accounts were being closed was fear that the bank
> >>> would fail. I am thinking on why that fear existed.
> >>>
> >>I don't remember the specifics of why one bank had a run but once one
> >>bank was in trouble it just snowballed from there as people heard and
> >>tried to get their money out before their bank had a run on it.
> >
> >It's a key plot point in "It's A Wonderful Life".
> And also in /Mary Poppins/.
>
> Which would be on-topic here, except that it is a movie.

You just made PL Travers cry.

pt

On 10/10/2022 12.47, pete...@gmail.com wrote:
> On Monday, October 10, 2022 at 12:24:22 PM UTC-4, Paul S Person wrote:
>> On 9 Oct 2022 19:04:15 GMT, t...@loft.tnolan.com (Ted Nolan <tednolan>)
>> wrote:
>>> In article <thv5hs$i855$1...@dont-email.me>,
>>> Dimensional Traveler <dtr...@sonic.net> wrote:

>>>> I don't remember the specifics of why one bank had a run but once one
>>>> bank was in trouble it just snowballed from there as people heard and
>>>> tried to get their money out before their bank had a run on it.
>>>
>>> It's a key plot point in "It's A Wonderful Life".
>> And also in /Mary Poppins/.
>>
>> Which would be on-topic here, except that it is a movie.
>
> You just made PL Travers cry.

Was the bank run in her original book, or was it only in the
Disney film?

--
Michael F. Stemper
Life's too important to take seriously.

On Sun, 09 Oct 2022 06:41:46 +1100, Stephen Harker
<sjharker@netspace.net.au> wrote:

>However, if France under Louis XIII & XIV had not annexed Alsace and
>Lorraine the issue would not have arisen in the first place. French
>aggression to their `natural borders'?
>
Heck you could make the same argument about the Occitan region. Or
MAYBE England should demand back the portion of France she held during
the Plantagenet era? "Natural borders" are in the eye of the beholder
and almost never subject to consensus.

Pretty much every country has formerly occupied larger or smaller
borders than they now do so if all claims were to be warranted we'd
need 4 or 5 Earths to accommodate everybody's claim.

On Sun, 9 Oct 2022 11:57:02 -0700, Dimensional Traveler
<dtravel@sonic.net> wrote:

>I don't remember the specifics of why one bank had a run but once one
>bank was in trouble it just snowballed from there as people heard and
>tried to get their money out before their bank had a run on it.

With all due respect none of that is unique to America. Many Europeans
believe the Great Depression started from an Austrian bank failure
that brought down other banks in a chain reaction including those in
New York City.

Certainly that belief was front and center in the minds of American
legislators in the 2008 crisis. Anybody need the phrase "too big to
fail" explained?

On Monday, October 10, 2022 at 2:23:41 PM UTC-4, Michael F. Stemper wrote:
> On 10/10/2022 12.47, pete...@gmail.com wrote:
> > On Monday, October 10, 2022 at 12:24:22 PM UTC-4, Paul S Person wrote:
> >> On 9 Oct 2022 19:04:15 GMT, t...@loft.tnolan.com (Ted Nolan <tednolan>)
> >> wrote:
> >>> In article <thv5hs$i855$1...@dont-email.me>,
> >>> Dimensional Traveler <dtr...@sonic.net> wrote:
>
> >>>> I don't remember the specifics of why one bank had a run but once one
> >>>> bank was in trouble it just snowballed from there as people heard and
> >>>> tried to get their money out before their bank had a run on it.
> >>>
> >>> It's a key plot point in "It's A Wonderful Life".
> >> And also in /Mary Poppins/.
> >>
> >> Which would be on-topic here, except that it is a movie.
> >
> > You just made PL Travers cry.
> Was the bank run in her original book, or was it only in the
> Disney film?

It's a 6 volume series. I don't think there's a bank run in the first
book, but I read it around 50 years ago, and have not read the others.

pt

On Mon, 10 Oct 2022 09:24:17 -0700, Paul S Person
<psperson@old.netcom.invalid> wrote:

>>>I don't remember the specifics of why one bank had a run but once one
>>>bank was in trouble it just snowballed from there as people heard and
>>>tried to get their money out before their bank had a run on it.
>>
>>It's a key plot point in "It's A Wonderful Life".
>
>And also in /Mary Poppins/.
>
>Which would be on-topic here, except that it is a movie.

And "It's a Wonderful Life" isn't?

On 10/10/2022 15.05, pete...@gmail.com wrote:
> On Monday, October 10, 2022 at 2:23:41 PM UTC-4, Michael F. Stemper wrote:
>> On 10/10/2022 12.47, pete...@gmail.com wrote:
>>> On Monday, October 10, 2022 at 12:24:22 PM UTC-4, Paul S Person wrote:
>>>> On 9 Oct 2022 19:04:15 GMT, t...@loft.tnolan.com (Ted Nolan <tednolan>)
>>>> wrote:

>>>>>> tried to get their money out before their bank had a run on it.
>>>>>
>>>>> It's a key plot point in "It's A Wonderful Life".
>>>> And also in /Mary Poppins/.
>>>>
>>>> Which would be on-topic here, except that it is a movie.
>>>
>>> You just made PL Travers cry.
>> Was the bank run in her original book, or was it only in the
>> Disney film?
>
> It's a 6 volume series. I don't think there's a bank run in the first
> book, but I read it around 50 years ago, and have not read the others.

I read at least four of them in the mid-1960s. It took a while for my
grade school librarian to get me past "Euch! Read a story about a girl?
Nuh-uh!" But, I don't really remember any details, either.

--
Michael F. Stemper
This email is to be read by its intended recipient only. Any other party
reading is required by the EULA to send me $500.00.

On Mon, 10 Oct 2022 13:06:06 -0700, The Horny Goat <lcraver@home.ca>
wrote:

>On Mon, 10 Oct 2022 09:24:17 -0700, Paul S Person
><psperson@old.netcom.invalid> wrote:
>
>>>>I don't remember the specifics of why one bank had a run but once one
>>>>bank was in trouble it just snowballed from there as people heard and
>>>>tried to get their money out before their bank had a run on it.
>>>
>>>It's a key plot point in "It's A Wonderful Life".
>>
>>And also in /Mary Poppins/.
>>
>>Which would be on-topic here, except that it is a movie.
>
>And "It's a Wonderful Life" isn't?

As memory of my one viewing (one was quite enough, thank you!) of
/It's a Wonderful Life/ slowly returns, I find I must concede the
point: both would be on topic (as fantasy) if they were not movies.
--
"In this connexion, unquestionably the most significant
development was the disintegration, under Christian
influence, of classical conceptions of the family and
of family right."

On Mon, 10 Oct 2022 13:05:09 -0700, The Horny Goat <lcraver@home.ca>
wrote:

>On Sun, 9 Oct 2022 11:57:02 -0700, Dimensional Traveler
><dtravel@sonic.net> wrote:
>
>>I don't remember the specifics of why one bank had a run but once one
>>bank was in trouble it just snowballed from there as people heard and
>>tried to get their money out before their bank had a run on it.
>
>With all due respect none of that is unique to America. Many Europeans
>believe the Great Depression started from an Austrian bank failure
>that brought down other banks in a chain reaction including those in
>New York City.
>
>Certainly that belief was front and center in the minds of American
>legislators in the 2008 crisis. Anybody need the phrase "too big to
>fail" explained?

Not so long as the explanation is: this is a 1%-er and we can't let
him lose any money.
--
"In this connexion, unquestionably the most significant
development was the disintegration, under Christian
influence, of classical conceptions of the family and
of family right."