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Panic of 1901
-first stock market crash on the NY stock exchange
-cause by troubles in controlling the Northern Pacific Railway
-it ended when J.P. Morgan pledged a large amount of his own money and convinced other NY bankers to do the same as him -
Panic of 1907
-when the NY stock market collapse almost 50% of the previous year
-caused by retraction of market liquidity from the banks
-heavy borrowing and trust decreased from customers with these banks
-ended with another word from J.P. Morgan -
Depression of 1920-21
- occurred fourteen months after WW1
- returning troops created a surge in civilian labour forces
- declines in the labour union strife occurred -as well as changes in prices rose
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The Great Depression (1929-1941)
-also known as "Black Tuesday"
- GPD fell by 15%
- unemployment rose by 25%
- there was a shrink of money supply
- loans were called back from the bank but no one could pay them so banks went into debt -
Aftermath of WW2 (1945-1960)
-even though unemployment rates were down during the war, they dropped once again once it was over
- soldiers needed new jobs but no one could get them
-every country paid for the war except the U.S., they thrived off of it
- this drop went into the 1970's when the oil crisis' took place taking the U.S. off its high horse -
1970's Energy Crisis
-substantial petroleum shortages
- the prices surged causing debt
- by the 1980's, the prices leveled to a more efficient price and the amount of oil returned to a normal amount -
OPEC Oil Price Shock (1973)
- price of oil rose to $12 a gallon from the $3 a gallon it was U.S.
- this affected many globally
- adjustments in the local economies helped with the prices to be elevated and to be adjusted
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Secondary Banking Crisis (1973-1975)
- dramatic crash in British property
- banks that helped with lending faced bankruptcy and threats
- prices skyrocketed
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Early 1980's Recession
-high underemployment
- affected many countries but Canada experienced a bigger unemployment rate and a higher interest rate than the U.S. -
Latin America Debt Crisis (1982)
- foreign debt exceeded its earning power
- oil prices skyrocketed
- the extra money made from the oil was used to buy international banks but that caused more loans and oil-producing countries went into debt
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Crisis of 1982
-occurred in Chile, South America
- unemployment rates increased by 23.7%
- was caused by the dictatorship happening in Chile at the time -
Bank Stock Crisis (1983)
- took place in Israel
- the stocks of the four largest banks in Israel crashed
- Israel fell into debt
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Japanese Asset Price Bubble (1986-2003)
- real estate and stock market prices rose
- this was caused by a rapid acceleration of asset prices to which 'overheated' the economy -they were making too much money to handle
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Black Monday (1987)
- in relation to Black Thursday (1929)
- stock markets all around the world crashed, shedding a huge value in a very short time
- the crash began in Hong Kong and spread west into Europe and the the U.S.
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Early 1990's Recession
- economic downturn affecting much of the western parts of the world
- most of it was due to the elections for new presidents
- people switched to discount stores which caused Walmart and Kmart to outsell Sears
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Dot-Com Bubble (1997-2001)
- many internet based companies were founded and many failed to be successful
- 2000-2002 the bubble collapsed companies like pet.com and webvan -many companies and their stock declined -the technology sector stabilized and several companies gained market shares and came to dominate their respective fields such as Amazon.com
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Financial Crisis (2007-2008)
- worst financial crisis since the Great Depression
- began in 2007 with a crisis in the subprime mortgage market in the U.S. and developed into a full-blown international banking crisis -this was followed by a global economic downturn (The Great Recession)
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The Great Recession (2008-2012)
- largely originated in the U.S. particularly related to the real estate markets
- it resulted in the scarcity of valuable assets in the market
- banks had to be bailed out by the U.S. government
- in 2009, the economy picked up but it didn't really fully recover
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European Debt Crisis (2009-present)
- several Eurozone member states were unable to repay or refinance their governments
- European nations implemented a series of financial support measures The ECB also contributed to lowering interest rates to provide cheaper loans in order to maintain money flow
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Brazilian Economic Crisis (2015-2017)
- due to the great amount of unemployment, salary drop, and reductions across all sectors of the economy
- this lead to the impeachment of Dilma Rousseff and the rise of Michel Temer to power
- the economy has begun to go back on track but they still aren't back to where they were before
