The "money" was not there. Each share of stock or each unit of similar financial instruments had value based on the prices at which those shares had been sold/bought at the most recent such transaction. When there were more sellers than buyers, the share price dropped. Suppose that rural land near you was typically selling for $3000 per acre. If suddenly most of that land was offered for sale, the price per acre would drop because there would be too few buyers to sustain the previous price level. For financial instruments, the price per share dropped. That is where the "money" went. There are some bargains out there now.
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Today's Featured Article - A Cautionary Tale - by Ian Minshull. In the early 1950s my father bought an Allis Chalmers B and I used it for all the row crop work with the mangolds and potatoes, rolling and the haymaking on our farm. The farm and the Allis were sold and I have spent a lifetime working on farms throughout the country. I promised myself that one day I would own an Allis. That time event
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1964 I-H 140 tractor with cultivators and sidedresser. Starts and runs good. Asking 2650. CALL RON AT 502-319-1952
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