Why No One Can Guess When Main Street Recovery will Occur

Henry Ford said, "History is bunk." Even more cynically, Napoleon said, "History is a set of fables agreed upon."

Both had a point.

But back in the early 1930s, during the Great Depression, President John F. Kennedy's father, Old Joe Kennedy, made two fortunes betting that stocks would keep falling and unemployment would keep growing.

He disbelieved in early New Deal recoveries.