The Great Depression

  • Benjamin Roth: The Great Depression: A Diary

    Benjamin Roth: The Great Depression: A Diary
    It's all here, times change people don't -the endless govt programs that fail to stimulate the private sector -the ups and downs of the economy, the veterans pension stimulates just as the housing credit did, until of course the money runs out -Roth is a attorney in Youngstown Ohio who kept a diary regarding the economy from 1930 until WW II breaks out, he is objective, candid, and forthright which is more than we get from Washington DC now or then highly recommended

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October 24, 2012

Comments

ndmaster

This one is a stretch. How is Hines supposed to learn from Schnitzer 30-37 years ago?

I think you are overlooking the Fed's continuous money printing. What ever happened to "Don't fight the Fed!"?

Dennis Elam

ND

One, Hines did not follow that model of building an empty structure and hoping it would fill up when he was on the way up.
Two, we are in a similar period of long term stagnation to then.
Three, the high tech sector is notorious for turning on a dime, especially with economic weakness all over the latest earnings reports
Four, Best Buy is awash in tablets, price competition directly ahead.
Five, I don't see how FED money printing would help fill buildings with occupants. Even as QE3 has begun the stock market is now falling. The FED is printing billions, the debt problem is now in the trillions.
The article did not say but I suspect they paid an all time high price for the land.
Learning from a failed business plan in a similar era is the key to survival. The costs of a building does not change when it is completed, the social mood and optimism about assuming a long term lease can change dramatically in the two years it will take to complete the building.

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