"Fear and insecurity" over the 1955 bull market

[Louis Proyect]

>Dow Jones Industrial Average:
>
>9/29   362.4
>4/55   425.7
>1/60   622.6
>1/80   875.9
>2/00   9862.1

What is the point of this, Doug? The article I posted was actually very
much in the spirit of what you have been saying and writing over the years
as in the sentence: "In certain respects, the controls over today’s market
are stronger than those of the twenties. Curbs on margin buying, while they
may not slow down a rise in the market, help to slow down a falling market,
because shareholders will not be wiped out as quickly if they have more
cash behind their holdings." I guess you are so used to thinking of
Marxists as "catastrophists" that when they say something that doesn't jibe
with your expectations, you can't even recognize it.

Louis Proyect
Marxism mailing list: http://www.marxmail.org/