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1493 – Pope Alexander VI divides the New World between Spain and Portugal along the Line of Demarcation. 1814 – King Ferdinand VII abolishes the Spanish Constitution of 1812, returning Spain to absolutism. 1869 – The internecine naval battle of Hakodate is fought in Japan. 1904 – After France’s failed attempt, the United States begins…

In August 1929 the most famous economist in America, Professor Irving Fisher of Yale, made what statement, which subsequently proved inane, about the US stock market, which had enjoyed an almost ten-year boom?