Yes, I was just telling my students that they have yet to see a stock market crash or significant fall.

We were discussing the Glass-Steagall Act of 1933 and the "Chinese Wall" (reference to the Great Wall of China) that was placed between the Stock Brokers (or Investment Bankers) and the Commercial Banks' liabilities - that is, depositors money (like you and me, I told them).  During the roaring 1920s, brokers used the depositor's money to invest on margin in the stock market.  When the crash happened, the depositors said, "Gei wo!!" - Give me!, but the banks said, "Mei you!!" - Have none!!  (The rhyme was quite comical, as you might imagine I played it up a few times!)

The markets were falling significantly as we spoke, little did *I* know AND continued yesterday as I struggled with trying to figure out what size of paper to use for the Final Exam!!!  Laughing!

The interesting thought for us here is the Fed's Comment in their statement as reported by the Wall Street Journal:

The move is unlikely to be the last cut, the Fed indicated. "Appreciable downside risks to growth remain," it said, vowing to "act in a timely manner as needed to address those risks." Markets see a high likelihood of a half-point cut at next week's meeting, scheduled for Jan. 29-30, and see the rate falling as low as 2.25% by the end of the year.

Hmmm, that will be a very interesting scenario which I am sure we will be interested to follow. 

STAY TUNED!!