2008 Woodie Awards
Experts compare economy to past
Katie Via
Issue date: 10/10/08 Section: News
Originally published: 10/9/08 at 6:18 PM EST
Last update: 10/9/08 at 6:32 PM EST
Oct. 24, 1929, a day more widely known as "Black Thursday," was the beginning of what would be a long economic struggle for the United States. The stock market collapsed and widespread panic set in. That was the Great Crash of 1929 and the beginning of what is known as the Great Depression.
Since then, there have been other significant crashes, such as the stock market crash of 1973, Black Monday of 1987 and the Dot-com bubble of 2000.
There have been a number of depressions in U.S. history and all have been due to monetary collapse, said Neal Duffy, associate professor of economics and finance at Plattsburgh State.
With today's unpredictable stock market and economic uncertainty, Duffy expects it will be "a rough next couple of years."
In New York, 20 percent of
Since then, there have been other significant crashes, such as the stock market crash of 1973, Black Monday of 1987 and the Dot-com bubble of 2000.
There have been a number of depressions in U.S. history and all have been due to monetary collapse, said Neal Duffy, associate professor of economics and finance at Plattsburgh State.
With today's unpredictable stock market and economic uncertainty, Duffy expects it will be "a rough next couple of years."
In New York, 20 percent of
Be the first to comment on this story