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The 1920s were good years for the world economy. They were years of boom. Boom and speculation go together like strawberries and cream, and there was speculation aplenty as well. In such a period of ‘irrational exuberance’ the illusion spreads that the good times will go on for ever. Sound familiar? In a 'bull market' as in 1925-29 nearly all share prices go up and up. Over those years US industrial shares trebled in price!  We all know what happened next. What are the parallels with today?