https://millercenter.org/the-presidency/presidential-speeches/october-25-1929-message-regarding-black-thursday Then they'll deny it is happening: >"The sum of it is, therefore, that we have gone through a crisis in the stock market, but for the first time in history the crisis has been isolated to the stock market itself. It has not extended into either the production activities of the country or the financial fabric of the country ..." November 5, 1929. It's all in your head: >"We are dealing here with a psychological situation to a very considerable degree. It is a question of fear." November 19, 1929. Then lie about it some more: >"The country has enjoyed a large degree of prosperity and sound progress during the past year with a steady improvement in methods of production and distribution and consequent advancement in standards of living. Progress has, of course, been unequal among industries, and some, such as coal, lumber, leather, and textiles, still lag behind." State of the Union. December 3, 1929. Okay, it's happening, but only a little: >"The low point of business and employment was the latter part of December and early January. Since that time employment has been slowly increasing and the situation is much better today than at that time...All the evidences indicate that the worst effects of the crash upon employment will have been passed during the next 60 days." March 7, 1930. They'll never tell you it's coming, or when it's arrived You have to watch for yourself.