By Julianne Malveaux, The Progressive
Posted on November 6, 2009, Printed on November 6, 2009
http://www.alternet.org/story/143710/
Eighty years ago this week, the stock market crashed and ushered in the Great Depression. We need to apply the lessons from that era to our own to relieve the needless suffering of the Great Recession.
In just two days, between Oct. 28 and 29, 1929, the stock market plummeted by 25 percent. Between September and November of that year, the Dow Jones Industrial Average lost 40 percent of its value. By July of 1932, the Dow had lost nearly 90 percent of its value.
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