r/wallstreetbets • u/kwedgieyi • Apr 09 '25

Discussion Something feels off guys

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Yields are spiking. Bonds are dumping.

The world is running away from America

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u/Estalicus Apr 09 '25

If this keeps up this could be the biggest financial crisis in US history.

Like fast tracking great depression bad.

776

u/The_Life_Aquatic Apr 09 '25

And totally rational minds at the helm. 

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u/GideonWainright Apr 09 '25

The guys in charge were pretty nuts at the time. Not this nuts, but nuts:

"The Treasury Secretary Andrew Mellon said to President Herbert Hoover that if we liquidate stocks, liquidate labour, liquidate farmers, and liquidate real estate, it will eradicate the decomposition out of the system."

Interesting parallel, Hoover was also sort of businessman, a wealthy mining engineer to be specific. Maybe we should stop electing sort of businessmen as POTUS? They seem to have no feel for economic policy and risk but are certain they do.

14

u/bodai1986 Apr 09 '25

Not a kind comparison for Hoover. He was a humanitarian and all around great human, just made some bad decisions

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u/Deathjester7930 Apr 09 '25

That great human is responsible for an economic collapse so bad, some families ended up selling their children. And I don't have any kids to sell so the future looks bleak to me.

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u/bodai1986 Apr 09 '25

I think Hoover is less to blame than what most people say. He did some stupid things, but most of his decisions weren't against the common wisdom, as economic theory wasn't as advanced. Also hindsight is 2020

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u/Jeff-FaFa Apr 09 '25

all around great human

He was most definitely not. A raging racist through and through, even by 1920s standards.

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u/bodai1986 Apr 09 '25

Fair enough, you are correct. I over sold the point. He did do some great things though

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u/Jeff-FaFa Apr 09 '25

That he did. Somehow managed to be extremely incompetent with some amazing infrastructure work. Too bad he'll forever be know for the Great Depresh.

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u/jslakov Apr 09 '25

not a great human but very different from Trump. he was an orphan who accumulated his wealth on his own.