write the opinion of JM penis on the causes and solution of Great Depression
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Market plunges out of control.” Headlines like this one have become familiar to Americans of all ages as of October 1987. No one, including those many citizens whose interest in the stock market is entirely minimal, has been able to ignore the fluctuations of the notorious Dow-Jones average of 30 stocks or the total number of shares traded daily on the New York Stock Exchange. We wonder over a 500-point plunge in a single day when 600 million shares changed hands. Not even the most prideful economist dares to predict with scientific precision the consequences of having learned from history, will not suffer another decade of economic privation in the Nineties as it did in the Thirties. Nevertheless, millions felt a chill of fear when the market plunged in 1987.
Older Americans, particularly those in their seventies and eighties, are especially chary of news of a stock market crash. These men and women remember another, in 1929, when in two days the Dow-Jones industrials lost a quarter of their market value and a then—astronomical 16 million shares were traded. That cataclysm on Wall Street was the prelude to one of the worst crises ever to strike the U. S. economy, the harbinger of a decade known to almost every American over the age of 40 as “The Great Depression.”