The Great Crash and The Recession

27 10 2009

In 1929 the Great Crash devastated the American nation. It was the result of the collapsed stock market and many other severe problems (Roark, 608-611). Many people lost their jobs, homes, among many other possessions. The president during the period, Herbert Hoover, set-up acts and tariffs to aid the devastating economy. In the end none of his programs worked, instead of the economy turning around, it got worse (Roark, 608-611). In 2009, the American people are going through a similar situation. But it’s not as bad as a depression, that’s because it’s a recession. Like 1929, the current recession we are in is for the same reasons. The stock market is constantly going up and down, and also because of other problems. So far the recession did take its toll on many companies, the American people, and banks.  Although the recession was a downfall, it is showing some relief  to the economy. But, there is still many problems that need to be fixed before the country can get back on its feet.

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