1930s Depression v. 2008 Financial Crash by Allison Medford

allmed4995 — 2024-04-10 12:51:15 UTC

both periods were characterized by high volatility

emeeve6169 — 2024-04-10 12:53:28 UTC

Both had something to do with the stock market crash.

allmed4995 — 2024-04-10 12:54:34 UTC

the 2008 Financial crisis was A recession unlike the great depression

allmed4995 — 2024-04-10 12:56:28 UTC

The Great Recession span was around 19 months and the great depression was almost a decade

allmed4995 — 2024-04-10 12:57:05 UTC

In 1929, the Fed’s decision slowed down economic activities in the US, while in 2008, the Fed provided a monetary stimulus to revive the economy.

emeeve6169 — 2024-04-10 12:57:44 UTC

The 2008 Financial Crisis had to due with house prices and a rising number of borrowers unable to repay their loans, while the Great Depression was caused by banks failing.

emeeve6169 — 2024-04-10 12:59:26 UTC

both crashes were serious events that wiped out unimaginable amounts of equity, and they were similar in magnitude

allmed4995 — 2024-04-10 13:01:35 UTC

During the great Depression the unemployment rate’s peak was 25%

During the Great Regression unemployment rate’s peak was 8.5%.

allmed4995 — 2024-04-10 13:05:49 UTC

In response to the Great Depression, Congress approved President Franklin Roosevelt's New Deal, which provided $41.7 billion in funding for domestic programs like work relief for unemployed workers

allmed4995 — 2024-04-10 13:06:55 UTC

In response to the 2008 Financial Crisis Congress passed the American Recovery and Reinvestment Act of 2009, which included $800 billion to promote economic recovery. The Recovery Act assigned GAO a range of responsibilities to help promote accountability and transparency in the use of those funds.

emeeve6169 — 2024-04-10 13:11:25 UTC

The 2008 Financial Crisis and the Great Depression were both the biggest economic catastrophes in the last 100 years.

allmed4995 — 2024-04-11 12:41:43 UTC

Great Depression: Technological advancements were less pervasive, with limited impact on the economy

2008 Financial Crash: Technology played a significant role in the financial system, with automated trading algorithms and complex financial instruments contributing to the rapid transmission of market shocks.

allmed4995 — 2024-04-11 12:43:43 UTC

During the Great Depression, While the housing market was affected by the broader economic downturn, the collapse in housing prices was not as central to the crisis as it was in 2008 where the housing market played a central role

emeeve6169 — 2024-04-11 12:45:10 UTC

1932-1933

"Are we tired of our own products? Yes, but are willing to keep on in order to buy the necessities we must have."

emeeve6169 — 2024-04-11 12:48:29 UTC

President Bush’s Speech to the Nation on the Economic Crisis. September 24th, 2008.

allmed4995 — 2024-04-11 12:53:24 UTC

During both it wasn't just one country's problem, it affected the whole world. Countries everywhere felt the effects of the bad economy.

allmed4995 — 2024-04-11 12:54:09 UTC

Policies like the New Deal in the U.S. were implemented to address the Great Depression, but similar wide-scale policies weren't enacted in response to the 2008 crash.

allmed4995 — 2024-04-11 12:54:42 UTC

Financial regulations were stricter by 2008 compared to the Great Depression era, but they were still not enough to prevent the crisis.

allmed4995 — 2024-04-11 12:55:03 UTC

Governments responded differently. During the Great Depression, there was less government intervention initially, but in 2008, governments took quick action to stabilize the economy.