An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
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Saturday, August 25, 2012
Lord Keynes — Davis on US Recessions in the 19th Century
Panic of 1819 – pervasive USA economic recession w/ bank failures;
Panic of 1825 – pervasive British economic recession in which many British banks failed, & Bank of England nearly failed
Panic of 1837 – pervasive USA economic recession w/ bank failures; a 5 yr depression ensued
Panic of 1847 – a collapse of British financial markets associated with the end of the 1840s railroad boom.
Panic of 1857 – pervasive USA economic recession w/ bank failures
Panic of 1866 – the Overend Gurney crisis (primarily British)
Panic of 1873 – pervasive USA economic recession w/ bank failures, known then as the 5 yr Great Depression & now as the Long Depression
Panic of 1884
Panic of 1890
Panic of 1893 – a panic in the United States marked by the collapse of railroad overbuilding and shaky railroad financing which set off a series of bank failures
Australian banking crisis of 1893
Panic of 1896 – an acute economic depression in the United States precipitated by a drop in silver reserves
19th century financial crises and depressions:
ReplyDeletePanic of 1819 – pervasive USA economic recession w/ bank failures;
Panic of 1825 – pervasive British economic recession in which many British banks failed, & Bank of England nearly failed
Panic of 1837 – pervasive USA economic recession w/ bank failures; a 5 yr depression ensued
Panic of 1847 – a collapse of British financial markets associated with the end of the 1840s railroad boom.
Panic of 1857 – pervasive USA economic recession w/ bank failures
Panic of 1866 – the Overend Gurney crisis (primarily British)
Panic of 1873 – pervasive USA economic recession w/ bank failures, known then as the 5 yr Great Depression & now as the Long Depression
Panic of 1884
Panic of 1890
Panic of 1893 – a panic in the United States marked by the collapse of railroad overbuilding and shaky railroad financing which set off a series of bank failures
Australian banking crisis of 1893
Panic of 1896 – an acute economic depression in the United States precipitated by a drop in silver reserves