and of make believe.
             There were events prior to the Great Crash of 1929 showing that the market might draw back. Galbraith cites one such occurrence in June of 1928 when in fact the death of the bull market was predicted, however this prediction turned out to be premature. Herbert Hoover would be elected President in 1929, and he had been concerned about the rising tide of speculation for some time. When he was Secretary of Commerce, he had tried to get the market under control. His attitude toward the
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