杜亮老师从事SAT教学工作6年，帮助超过5万学生获得SAT作文获得10分以上的成绩，其中很多学生获得满分。国内顶级SAT作文专家，独创“例子备考法”。
杜亮
Assignment: Is there always another explanation or another point of view?
There is always a “however.” Each situation has its benefits and its drawbacks. In the field of market finance, we find a compelling example that supports this thesis.
The Roaring Twenties was a decade during which the American economy saw a rapid boom. In fact, America’s bull markets, such as the New York Stock Exchange had become so financially inviting by 1927 that even America’s middleclass poured its money into America’s financial forums. Unfortunately, on October 4, 1929 the Booming Twenties came to an abrupt halt when the New York Stock Exchange crashed.
The crash had many negative consequences. Most notably, the stock market crash of 1929 launched America into the Great Depression, a time of starvation and unemployment for millions of American citizens. The widespread optimism of the 1920’s quickly turned into an almost suicidal pessimism. Indeed, the Great Depression represents a crippling consequence of the stock market crash of 1929.
However, Franklin Delano Roosevelt established institutions and regulations to prevent future economic catastrophes.Cognizant of the Crash’s causes, such as pool corruption, overpriced stock values, and margin buying, Roosevelt implemented the Social Security Act, the FDIC, and stricter rules monitoring credit. His aggressive policies not only ameliorated the uncomfortable climate of the Great Depression, but also laid the groundwork for a safer, more successful economy.
The American public also realized the many positive results of the stock market crash of 1929. In particular, American citizens now have an entirely different fiscal outlook from the one they had before the Crash. Speculators have proven to be more prudent and insightful, as they often research market trends before investing. Perhaps most importantly, American investors are not as easily swayed by popular optimism and eager advertisement.
While the stock market crash of 1929 was the embryo of the Great Depression, the Crash also set the foundation for a sounder economy. If we recognize the good and the bad of the Crash, we are destined to make fewer economic mistakes.