Business Day (Johannesburg)
25 March 2008
DOOMSAYERS are likening this market volatility to the Wall Street Crash of 1929 and there are indeed some similarities. Like now, debt was one of the main causes of the Great Depression. In the "roaring" 1920s US consumers and businesses relied on cheap credit to buy goods. Consumers spent on cars and furniture while businesses borrowed for capital investment in order to increase ...
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