Second Great Depression

Second Great first Tina Stringham History 2020 Linda Wilke-Heil November 10, 2008 There seems to be a lot of speculation lately on whether we argon in a jiffy Great drop-off. It is good that people ar thinking about this, because back in 1929, there was no talk and people were interpreted by surprise when it did happen. On the other hand, People atomic number 18 jumping to conclusions without taking in all the facts. We are not in a second Great depression because galore(postnominal) steps deport been taken by the people and the government to prevent it. The Stock merchandise, the banks and the oil colour industry are the three main reasons why we are not in a second Great Depression. Elizabeth MacDonalds article We Are Not Headed for a Great Depression, Robert J. Smauelsons article Is this a second Great Depression? and Kimberly Amadeos article Is the U.S. Headed Towards the Second Great Depression? provides plenty of evidence to show we are not in a second Great Depression. To daylight, stock prices have declined but have not declined more than 30% in one day (Amadeo, pg1). In 1929, the stock market lost most of its evaluate from its peak during the Great Depression. Currently wagering from March 2000 to October 2002, the market has only lost about 50%. This has happened 3 clock since 1937 (Amadeo, Pg3).

Since the late 1940s, the United States has experienced 10 recessions (Samuelson, pg 1). This goes to show, that America has many ups and downs and just because you are in a down time, does not mean you are in a depression, but are in a recession. The banking industry involves many different areas. We look at housing prices and foreclosures, business credit and bank/ monetary difficulties. Housing prices have dropped over the last year change magnitude the price of single family homes approximately 8% (Amadeo, pg1). Part of this is because of the timidity being created. This is causing banks to tighten their credit which leads to lower actual estate sales.... If you want to get a full essay, sanctify it on our website: Ordercustompaper.com

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