Time for a financial history course. Let's take a look at Exhibit A:
Stop relying on television and movies to give you an idea of history. It's ridiculous. Pick up a book! This is why the cycles repeat themselves - some people just don't pay attention to the lessons that history has provided. The 1929 crash was horrible because of the sudden percentage drop that occurred. It was immediate. It was powerful. At the time, average investors were speculating using 10-1 margin due to a lack of regulatory rules, so at this time, even a small rise or fall could make or break fortunes. We haven't experienced anything like the jolt of the 1929 period.
It's 1933 that we should all fear. Our current crash has happened over the course of a year, as stocks unwind, falling downward. Unless you work on Wall Street, we haven't had a singular event when we all show up and our assets have dissipated, with people jumping out of windows. Instead, we've had this constant downward pressure.
Let's just be thankful that we are able to say this past week was the worst sustained drop "since 1933". If we had actually been comparable to 1933, the Dow Jones Industrial Average would be somewhere between 1,750 and 2,000. Stocks would be trading than less than the cash many of the companies would have in the bank.