The U.S. stock market hit an all-time high in October 1929 before crashing dramatically. Following the market crash, the U.S. entered a prolonged economic downturn dubbed The Great Depression. Using Figure, estimate how long it took for the stock market to fully rebound from its fall which began in October 1929. How did bond investors fare over this same period?

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Value in $(log scale) 100,000 e Stocks Bonds $21,536 10,000 Inflation -!。Bills 1,000- $175 $66 100m $24 10- 1900 1940 1960 1980 2000 2006 2020 Year 1920