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Editorial
December 30, 1929
The Daily Alaska Empire
Juneau, Juneau County, Alaska
What is this article about?
Contrarian editorial from New York Times predicts slump in moderately priced car sales and boom in luxury models like $15,000 Martini-Joyces after Wall Street crash, due to wealth shifting to fewer hands.
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On the Contrary.
(New York Times.)
People who predict a slump in the market for high-priced automobiles as a result of the collapse in Wall Street have not thought down deep enough into the problem. Our own prediction is a slump in the sale of moderately priced cars and a boom in the expensive Martini-Joyces. What has apparently happened in Wall Street is the transfer of money from a lot of people who wanted to win enough to buy a $1,200 car into the hands of a few people who will now proceed to buy $15,000 cars.
(New York Times.)
People who predict a slump in the market for high-priced automobiles as a result of the collapse in Wall Street have not thought down deep enough into the problem. Our own prediction is a slump in the sale of moderately priced cars and a boom in the expensive Martini-Joyces. What has apparently happened in Wall Street is the transfer of money from a lot of people who wanted to win enough to buy a $1,200 car into the hands of a few people who will now proceed to buy $15,000 cars.
What sub-type of article is it?
Economic Policy
Trade Or Commerce
What keywords are associated?
Wall Street Collapse
Automobile Market
Luxury Cars
Economic Slump
Wealth Transfer
What entities or persons were involved?
Wall Street
Martini Joyces
Editorial Details
Primary Topic
Prediction Of Automobile Market Trends After Wall Street Collapse
Stance / Tone
Contrarian Optimism For Luxury Car Sales
Key Figures
Wall Street
Martini Joyces
Key Arguments
Slump In Moderately Priced Car Sales Due To Loss Of Buying Power Among Many
Boom In Expensive Car Sales As Wealth Transfers To Few Affluent Buyers