Major financial crises throughout history

Credit Crisis of 1772

Credit Crisis of 1772, Copper Panic of 1789, Recession of 1812, The Poyais Scheme of 1825, Panic of 1873, Panic of 1884, Panic of 1907, Depression of 1920, The Great Depression, Roosevelt Recession, Gas Crisis of 1973, 1979 Energy Crisis, Argentine Great Depression of 1998, 2008 Market Crash

The British credit crisis of 1772 has been described by scholars and economists as the first modern banking crisis involving the Bank of England. The trouble began when banker Alexander Fordyce, who found himself in enormous debt, fled from his financial responsibilities to France.

Copper Panic of 1789

Credit Crisis of 1772, Copper Panic of 1789, Recession of 1812, The Poyais Scheme of 1825, Panic of 1873, Panic of 1884, Panic of 1907, Depression of 1920, The Great Depression, Roosevelt Recession, Gas Crisis of 1973, 1979 Energy Crisis, Argentine Great Depression of 1998, 2008 Market Crash

The United States' switch to a paper money economy was spurred by the Copper Panic of 1789, during which massive quantities of fake copper coins made their way into circulation, destroying the value of real copper and causing the American public to lose faith in the copper coin.

Recession of 1812

Credit Crisis of 1772, Copper Panic of 1789, Recession of 1812, The Poyais Scheme of 1825, Panic of 1873, Panic of 1884, Panic of 1907, Depression of 1920, The Great Depression, Roosevelt Recession, Gas Crisis of 1973, 1979 Energy Crisis, Argentine Great Depression of 1998, 2008 Market Crash

In the months preceding the War of 1812, the United States experienced a brief but serious recession. Fortunately for the economy, the boost in production to feed the war machine quickly pulled the economy out of danger.

The Poyais Scheme of 1825

Credit Crisis of 1772, Copper Panic of 1789, Recession of 1812, The Poyais Scheme of 1825, Panic of 1873, Panic of 1884, Panic of 1907, Depression of 1920, The Great Depression, Roosevelt Recession, Gas Crisis of 1973, 1979 Energy Crisis, Argentine Great Depression of 1998, 2008 Market Crash

In a time when investors looked to the British stock market to invest in foreign debt, MacGregor had no problem putting his fake government bonds on the market. When his duplicity was exposed, it caused a huge panic in the financial sector of Great Britain and caused the public to second guess their investments after seeing so many of their neighbors lose their life's savings to MacGregor 's scam.

Panic of 1873

Credit Crisis of 1772, Copper Panic of 1789, Recession of 1812, The Poyais Scheme of 1825, Panic of 1873, Panic of 1884, Panic of 1907, Depression of 1920, The Great Depression, Roosevelt Recession, Gas Crisis of 1973, 1979 Energy Crisis, Argentine Great Depression of 1998, 2008 Market Crash

The Panic of 1873 was caused by the closure of Jay Cooke & Co., the largest financial institution in the United States at the time, which had poured too much money into the construction of the Northern Pacific Railway without seeing any returns.

Panic of 1884

Credit Crisis of 1772, Copper Panic of 1789, Recession of 1812, The Poyais Scheme of 1825, Panic of 1873, Panic of 1884, Panic of 1907, Depression of 1920, The Great Depression, Roosevelt Recession, Gas Crisis of 1973, 1979 Energy Crisis, Argentine Great Depression of 1998, 2008 Market Crash

A recession that began in 1882 caused by the decline of the railroad industry came to a head after the collapse of two of the United States' primary banking institutions, Marine National Bank and the Grant & Ward firm. The New York Clearing House gave other banks on the brink of failure massive bailouts to avoid further financial catastrophe.

Panic of 1907

Credit Crisis of 1772, Copper Panic of 1789, Recession of 1812, The Poyais Scheme of 1825, Panic of 1873, Panic of 1884, Panic of 1907, Depression of 1920, The Great Depression, Roosevelt Recession, Gas Crisis of 1973, 1979 Energy Crisis, Argentine Great Depression of 1998, 2008 Market Crash

The recession that followed would last more than a year and was a main precursor to the formation of the Federal Reserve in 1913.

Depression of 1920

Credit Crisis of 1772, Copper Panic of 1789, Recession of 1812, The Poyais Scheme of 1825, Panic of 1873, Panic of 1884, Panic of 1907, Depression of 1920, The Great Depression, Roosevelt Recession, Gas Crisis of 1973, 1979 Energy Crisis, Argentine Great Depression of 1998, 2008 Market Crash

Depressions like this are to be expected when shifting from the heightened production of wartime to the scaled-down, less profitable production of peacetime, but the end of World War I struck particularly hard. Thankfully, consumerism quickly reached new heights following the 1920 depression, and the Roaring Twenties were soon in full swing.

The Great Depression

Credit Crisis of 1772, Copper Panic of 1789, Recession of 1812, The Poyais Scheme of 1825, Panic of 1873, Panic of 1884, Panic of 1907, Depression of 1920, The Great Depression, Roosevelt Recession, Gas Crisis of 1973, 1979 Energy Crisis, Argentine Great Depression of 1998, 2008 Market Crash

The total failure of the federal government to provide relief or a plan of action perpetuated this decade of starvation, homelessness, economic stagnation, and the worst period of unemployment in American history. At the depression's peak, unemployment reached almost 25%. In 1933 alone, 4,000 banks were forced to close their doors.

Roosevelt Recession

Credit Crisis of 1772, Copper Panic of 1789, Recession of 1812, The Poyais Scheme of 1825, Panic of 1873, Panic of 1884, Panic of 1907, Depression of 1920, The Great Depression, Roosevelt Recession, Gas Crisis of 1973, 1979 Energy Crisis, Argentine Great Depression of 1998, 2008 Market Crash

While the New Deal itself pulled the United States out of its previous recession, it left gaps in the federal budget that displeased Congress and led them to introduce wide-reaching austerity measures that sent the public and the trading markets into a panic.

Gas Crisis of 1973

Credit Crisis of 1772, Copper Panic of 1789, Recession of 1812, The Poyais Scheme of 1825, Panic of 1873, Panic of 1884, Panic of 1907, Depression of 1920, The Great Depression, Roosevelt Recession, Gas Crisis of 1973, 1979 Energy Crisis, Argentine Great Depression of 1998, 2008 Market Crash

Arab nations cut oil supplies to Israel's Western allies, causing an immediate and catastrophic oil shortage and a massive spike in gas prices across the Global West.

1979 Energy Crisis

Credit Crisis of 1772, Copper Panic of 1789, Recession of 1812, The Poyais Scheme of 1825, Panic of 1873, Panic of 1884, Panic of 1907, Depression of 1920, The Great Depression, Roosevelt Recession, Gas Crisis of 1973, 1979 Energy Crisis, Argentine Great Depression of 1998, 2008 Market Crash

Similar to the crisis of 1973, the United States' dependency on foreign oil became its downfall. The new Iranian government drastically cut the volume and frequency of its oil exports, causing price hikes and shortages in the United States as well as other Western countries.

Argentine Great Depression of 1998

Credit Crisis of 1772, Copper Panic of 1789, Recession of 1812, The Poyais Scheme of 1825, Panic of 1873, Panic of 1884, Panic of 1907, Depression of 1920, The Great Depression, Roosevelt Recession, Gas Crisis of 1973, 1979 Energy Crisis, Argentine Great Depression of 1998, 2008 Market Crash

An already shaky Argentine economy was pushed over the edge after the economic collapses in Brazil, Mexico, and Russia, all important trading partners for Argentina.

2008 Market Crash

Credit Crisis of 1772, Copper Panic of 1789, Recession of 1812, The Poyais Scheme of 1825, Panic of 1873, Panic of 1884, Panic of 1907, Depression of 1920, The Great Depression, Roosevelt Recession, Gas Crisis of 1973, 1979 Energy Crisis, Argentine Great Depression of 1998, 2008 Market Crash

The housing market crash of 2008 was the worst financial crisis of the 21st century thus far, and sent devastating ripples throughout the global economy for years afterward.

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