Good News On The 80th Anniversary Of The Great Crash On Wall Street

On this day, October 29, the 80th anniversary of the Great Crash on Wall Street that led to the Great Depression, we have good news: an increase of 3.5 percent in the Gross Domestic Product in the third quarter of this year, the first such increase in a year.

This officially marks the end of the worst recession since the Great Depression, and the growth rate for the quarter matches the normal rate of increase in the 80 years since the beginning of the Great Depression.

The problem is that much of the growth was probably due to the economic stimulus, so the question is whether the economy will continue to expand on its own in the coming months. Plus there is the issue of when will unemployment stop rising, and when will foreclosures start to recede.

So while happy at this development, it is obvious that we should not be overly optimistic at a permanent overcoming of the recession, because there is still danger that we could go right back into the recession in the future.

So we need to have our fingers crossed and hope for the best!

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