Could an economic tragedy like the Great Depression happen again?

In the world we live in today, the complex global economy relies on confidence that buyers have in it to assure its success. In the case of the Great Depression, the confidence quickly vanished and the economy was left devastated. Recently in Cyrpus the economy has taken a major hit and people have been rushing to withdraw all their money from the banks because they have had a loss of confidence but if something so similar to the Great Depression is happening in Cyrpus why aren't we headed towards another Great Depression? In the past month, the Dow Jones has hit a record high and has been on an upward trend gained over 1000. Similarly the NASDAQ and S&P 500 have gained over 100 in the past month. These numbers show that clearly we aren't headed in the direction of another Great Depression, but why? After the Great Depression the world realized that everything needed to do be done to assure people's confidence and thus many programs and policy's were implemented to do so. Programs like the FDIC maintain the confidence of the public and when added to influential people who have studied the Great Depression extensively we can assure that we don't take a turn in the wrong direction. Many great philosophers have said that if we don't study history we shall repeat it. Since there have been so many extensive studies on the causes the Great Depression, it is safe to say we have learned from our mistakes and will be able to prevent an economic crisis the size of the Great Depression from ever happening again.