Editing Roger Babson (section)

===Forecast of Wall Street Crash===
On September 5, 1929, Babson gave a speech to the National Business Conference at Babson College, in which he proclaimed, "More people are borrowing and speculating today than ever in our history. Sooner or later a crash is coming, and it may be terrific". Speaking at a time when expectations of a continuing boom economy were high, Babson's prescient advice was "wise are those investors who now get out of debt and reef their sails. This does not mean selling all you have, but it does mean paying up your loans and avoiding margin speculation".<ref>{{cite book |first=John Kenneth |last=Galbraith |title=The Great Crash, 1929 |publisher=Houghton Mifflin Harcourt |year=1997 |page=[https://archive.org/details/greatcrash19290000galb/page/84 84] |isbn=0-395-85999-9 |url=https://archive.org/details/greatcrash19290000galb/page/84 }}</ref>

Later that day, the stock market declined by about 3%.<ref>{{Cite web|url=https://internationalman.com/articles/babsons-warning/|title=Babson's Warning|date=2014-09-15|website=International Man|language=en-US|access-date=2019-01-04}}</ref><ref>{{Cite web|url=https://www.newswise.com/articles/the-man-who-predicted-the-crash-of-29|title=The Man Who Predicted the Crash of "˜29|website=www.newswise.com|access-date=2019-01-04}}</ref> This became known as the "Babson Break." The [[Wall Street Crash of 1929]] and the [[Great Depression]] soon followed.