Slope of Hope Blog Posts

Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.

A Decidedly Different Look at the ISM

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ISM’s Report on Business (RoB) blisters upward, but…

My former residence within the real economy was right here, in the manufacturing base. I don’t miss it even one little bit, but were I still involved we’d be booming and bitching. Business would be very good and prices and supply constraints very aggravating. The way things went in my segment – Medical Equipment, often pressured by Medicare constraints and general competition – I’d be getting hit over the head by customers about maintaining low prices while facing immovable obstacles in the form of supplier prices and extended deliveries. Now I write for a living. It’s a no-brainer I guess.

That digression aside, let’s look at the RoB. Here is the headline. You can click the graphic to grab the entire report (pdf).

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Rich Man’s Panic (3 of 3)

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During these three-day weekends, I’ll sometimes lean on my Panic Prosperity and Progress book for an interesting morsel of content for my readers. Part 1 is here and Part 2 is here. Enjoy:


As the call rate lurched from 60% to 70% and, later, 100%, the metaphorical air supply of cash that normally enlivened the stock market was choked off. Equity prices started to sink badly, and by the afternoon of Thursday, October 24, Ransom Thomas, the president of the NYSE, went to Morgan’s office to advise him that they were going to close the stock exchange early. Morgan correctly asserted that such an act would only add to the panic and tumult, and he implored Thomas to give him time to help.

The stock market’s ascent prior to the 1907 panic, and its subsequent collapse, is represented in this price chart of the Dow Industrial Average
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