The Great Depression A Diary (Audible Audio Edition) James Ledbetter Mike Chamberlain Daniel B Roth Audible Studios Books
Download As PDF : The Great Depression A Diary (Audible Audio Edition) James Ledbetter Mike Chamberlain Daniel B Roth Audible Studios Books
This title offers a first-person diary account of living through the Great Depression, with haunting parallels to our own time.
Benjamin Roth was born in New York City in 1894. When the stock market crashed in 1929, he had been practicing law for approximately 10 years, largely representing local businesses. After nearly two years, he began to grasp the magnitude of what had happened to American economic life, and he began writing down his impressions in a diary that he maintained intermittently until he died in 1978.
Roth's words from that unique time seem to speak directly to readers today. His perceptions and experiences have a chilling similarity to our own era. Like many of us, Roth struggles both to understand and to educate himself about what was going on around him. He is sceptical of big government, yet ultimately won over by FDR's New Deal. This collection of his diary entries, edited by James Ledbetter, editor of Slate's "The Big Money," reveals another side of the Great Depression - one lived through by ordinary, middle-class folks, who on a daily basis grappled with a swiftly changing economy coupled with anxiety about the unknown future. It is highly topical - and timely.
The greatest financial disaster since the Great Depression has many Americans wondering what things were like as the Great Depression unfolded and people did not yet know how or when it would end. It is clear-eyed, readable - and eerily familiar.
In short, concise, and thoughtful entries, Roth chronicles the most telling moments of the Great Depression, from the drop in the price of movie tickets to Hoover's failed free-market solutions, to the rise in foreclosures in his hometown and how to benefit from 'bargains' at the much-diminished stock exchange. It is published one-year after the bankruptcy of Lehman Bros sent the world markets on a deep downward slide, and around the 80th anniversary of "Black Tuesday".
The Great Depression A Diary (Audible Audio Edition) James Ledbetter Mike Chamberlain Daniel B Roth Audible Studios Books
A great book! Being a diary you can tell the author didn't know at any point when or if the depression would end -- an important perspective we don't have since the depression was so long ago and we now know how it turned out. As Ben was writing the diary, however, he had no idea; just like today for us. Will the market go up? go down? crash? Being "in the moment" is a very different perspective. Also the market recovery / rally in 1936 is something we don't hear much about but was real. It didn't last very long, however.Another realization by reading this is that we don't really learn from history. I know there is a famous quote (and I should know who said it: Georg Wilhelm Friedrich Hegel -- thanks Larry and Sergey!) that says "The only thing we learn from history is that we learn nothing".
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The Great Depression A Diary (Audible Audio Edition) James Ledbetter Mike Chamberlain Daniel B Roth Audible Studios Books Reviews
This book changed my life. I have completely modified how I invest and for the better. This book is a page turner when you read how a middle class person is dealing on a daily basis with surviving during a time when even passbooks savings account books were being sold at a discount by individuals (because the banks were shutdown for so long people needed to raise some money to buy food or pay rent). Imagine your bank being shutdown for three years with your money in it.
The sheer number of people who made money from hard work and then gambled it all away in the stock market is astounding. Also, it was amazing to learn for whom "common" stock was originally created for.
After reading it I know that the recovery from 2008 will be at least ten years in the making. We are only just approaching the middle of the crisis, not the end. Be on the lookout and save as much as you can in various places.
If I could give this book ten stars I would do it.
I highly recommend this book for anyone who may be considering investing, especially in the stock market. As a recent college graduate I have just begun getting into the investment mindset and read another book that required reading this as 'homework' I am glad it did. I was able to read a first hand account of the mindset of many people during the Great Depression and the policies put into place that have helped shape the current economy. This book has also convinced me to become more involved in politics. I don't think I will be having any political debates anytime soon but I will pay more attention to candidates and policies put in place by the current president. If you are looking for a good reason to become more frugal and save money and cut down on debt, reading this book will really help make that push
The description promised
This collection . . . reveals another side of the Great Depression—one lived through by ordinary, middle-class Americans, who on a daily basis grappled with a swiftly changing economy coupled with anxiety about the unknown future. ... ( they ) seem to speak directly to readers today.
That would be a lot and it was all I expected.
It is slightly misleading however. The author is by no means ordinary. Middle class, yes. Ordinary - no. He is an attorney and understands logic and mis-direction.
What I got was a description of the evolution of an intellegent motivated man who admitedly knew nothing about stocks, bonds, investments or economics but who had a passion to understand what was happening, into a truely impressive economic prognosticator.
He was observant enough to realize that the government and the news papers were not telling him the truth. He had a passion to find out what was really happening. He made an exhaustive study of economics, the business cycle, and past crashes. He soon came to realize that the "Experts" didn't know any more about what was going to happen than he did.
He records his studies along with similarities between his current crisis and historical past crises. He makes predictions based on his own studies. He not only writes his expectations, he re-reads them years later and adds comments on his prior writings - one, two, and more years later that he was right or wrong in his expectations.
I have been studying these crises since my father made me read "Extraordinary Popular Delusions and the Madness of Crowds" around 1960. I learned more practical knowledge from this book than from any other book I have ever read.
Who should read this book?
If you are worried about the future and want to know how to protect your assets and your standard of living. You really should read this book.
If for some reason, you are NOT worried about the future and don't worry about protecting your assets and your standard of living. You need ths book even more.
This as-it-happened diary gives a first-person perspective that you won't get anywhere else, and it paints a very vivid picture of the Greg Depression that makes me better understand my grandparents' life and times. He spells out through personal participation the problems created by widespread bank failures (which meant that depositors lost their money), and general lack of liquidity. Did you know that by the day FDR was sworn into office virtually every bank in the entire country had closed. Also most interesting, the author knows that the depressed market in both stocks and real estate is the "time to buy", and over the years he repeatedly speculates about when the bottom is reached and which property to buy. Better yet, he came back 10 or 20 years later and penciled in how some of those properties did. Given the shift in real estate away from downtown and into shopping malls, some of the properties he longed to buy at bargain prices, never ever recovered. Very readable.
A great book! Being a diary you can tell the author didn't know at any point when or if the depression would end -- an important perspective we don't have since the depression was so long ago and we now know how it turned out. As Ben was writing the diary, however, he had no idea; just like today for us. Will the market go up? go down? crash? Being "in the moment" is a very different perspective. Also the market recovery / rally in 1936 is something we don't hear much about but was real. It didn't last very long, however.
Another realization by reading this is that we don't really learn from history. I know there is a famous quote (and I should know who said it Georg Wilhelm Friedrich Hegel -- thanks Larry and Sergey!) that says "The only thing we learn from history is that we learn nothing".
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