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Description
The stunning collapse of the thrift industry, the major stock slump of 1987, rising corporate debt, wild fluctuations of currency exchange rates, and a rash of defaults on developing country debts have revived fading memories of the Great Depression and fueled fears of an impending economic... read more
First Sentence
Although cyclical fluctuations remain a problem throughout the industrial world, the depression of the 1930s was the last time that we experienced the kind of financial crisis followed by economic collapse that had been a recurrent problem in both the United States and Europe for centuries.
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