"Babson Predicts Crash in Stocks Sooner or Later". The Owensboro Messenger (Owensboro, Kentucky). September 8, 1929. p. 2. "I repeat what I said at this time last year, and the year before, that sooner or later a crash is coming which will take the leading stocks and cause a decline of from sixty to eighty points in the Dow-Jones Borometer. Fair weather cannot always continue. The economic cycle is in progress today, as it was in the past. The Federal Reserve System has put the banks in a strong position, but it has not changed human nature. More people are borrowing and speculating today than ever in our history. Wise are those investors who now get out of debt and reef their sails. This does not mean selling all you have but it does mean paying up your loans and avoiding margin speculation."
Salsman, Richard M. "The Cause and Consequences of the Great Depression, Part 1: What Made the Roaring '20s Roar", The Intellectual Activist, ISSN0730-2355, June 2004, p. 16.
