Not the same time. In 1929 they were hit with a shit storm and knew nothing about trying to combat it. When they did they made the wrong moves over and over. Today they have something more informative to handle the problem. Is this country in a major mess? Sure it is. Can it be fixed over time lets hope so. For now fighting the fed is extremely difficult and anyone holding this or faz can show you with tears. How far will we correct? Short term I would be shocked if the dow went under 8500 before the next major run. Timing is everything and right now the bulls are in control. Disclosure, I own FAZ and just bought SRS. I hold these for protection on my long holdings. AIG at 8.58. SQNM at 3.75. AKRX at 1.21. These could get crushed at any moment.
things might be a little different now, I am not sure if they injected so much money into the ecomony, also not sure if they could unplug the DJIA network if it looses more then 5%? not sure when they shut it down, but they do.
I think that the results will be the same, but might take longer to hit bottom, or postponed do to some good economic indicators from massive influx of cash into economies all over the world.
You don't remember because you were alive in 1929. That is the problem, 80 years and one generation. Everyone alive during the Great Depression is dead and the painful lessons forgotten. Now we will relearn the lessons and eighty years from now it can happen again.