Wednesday April 7 2021
The iconic Tower Life Building ( octagonal with a green roof and the flagpole down town) and the Majestic Theater were planned in the late 1920s. The Tower Life building was to be the first of a series of down town developments. The Majestic openned in the summer of 1929. And of course the crash occurred that October. All the other projects in the Tower Life complex were cancelled.
We are now in a similar situation. The markets are at all time highs, now as then. Optimism abounds. Each month the stock market makes a new high. Speculation is rampant, risky option purchases are setting records for volume and dollars spent.
What could go wrong?
Big plans are made at market tops and this is no different than 1928. Yes San Antonio is has a very diverse economy. But
Team Biden plans a massive tax increase
China pours ships into the South China Sea
the USS Teddy Roosevelt steams (nukes?) there now
Russia masses on the Ukraine Border
Interest rates are up
What could go wrong?
Professor Elam 
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