Could the 1929 stock market crash happen again? | Opinion

I was intrigued by Jay Evensen’s op-ed “Did you see what they said after the stock market crash in 1929?” compare the stock market crash of October 1929 – and the bumpy ride in the aftermath. “US industry is fundamentally healthy and unaffected by the recent financial turmoil,” the Labor Department said at the time. “The stock market break has not resulted in a reduction in employment … (and) it could bring more money for industrial development.”

That was far from the truth, in 1932 a crater formed and it took until November 1954 – some 25 years – to regain the pre-crash level. That stark warning should make today’s investors look in the mirror. History tends to repeat itself.

James A. Marples


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