Panic of 1797
Panic of 1819
Panic of 1825
Panic of 1837
Panic of 1847
Panic of 1857
Panic of 1866
Panic of 1873
Panic of 1884
Panic of 1890
Panic of 1893
Panic of 1896
Panic of 1901
Panic of 1907
Panic of 1910–1911
Wall Street Crash of 1929
Recession of 1937
Recession of 1958
Stock market downturn of 2002
Coming up next, the Economic crisis of 2008
Name:
Anonymous2008-10-04 1:58
You just posted this on /r9k/
Name:
Anonymous2008-10-04 15:42
>>1
All brought to you by the Jew-created "fractional reserve banking system," in which banks with little or no actual capital trade IOUs until one day a flea farts and suddenly they don't have enough money to cover their liabilities. Then suddenly there are riots in the streets and the kikes scurry for cover, dragging big heavy suitcases of the people's money.
Reagan's tax policies were accused of pushing both the international transactions current account and the federal budget into deficit and led to a significant increase in public debt. Advocates of the Laffer curve contend that the tax cuts did lead to a near doubling of tax receipts ($517 billion in 1980 to $1,032 billion in 1990), so that the deficits were actually caused by an increase in government spending. History shows that the large reductions in income tax rates in 1981 were followed by abnormally slow growth in income tax receipts, while the increases in income-tax rates enacted in 1990 and 1993 were followed by sizeable growth in income-tax receipts. The job growth under the Reagan administration was an average of 2.1% per year. A recession occurred in 1982.
The savings and loan crisis of the 1980s was the failure of 747 savings and loan associations (S&Ls) in the United States. The ultimate cost of the crisis is estimated to have totaled around USD$160.1 billion, about $124.6 billion of which was directly paid for by the U.S. government—that is, the U.S. taxpayer, either directly or through charges on their savings and loan accounts[1]—which contributed to the large budget deficits of the early 1990s.
The concomitant slowdown in the finance industry and the real estate market may have been a contributing cause of the 1990–1991 economic recession. Between 1986 and 1991, the number of new homes constructed per year dropped from 1.8 million to 1 million, the lowest rate since World War II.
The damage to S&L operations led Congress to act, passing a bill in September 1981 allowing S&Ls to sell their mortgage loans and use the cash generated to seek better returns. This all made S&Ls eager to sell their loans. The buyers – major Wall Street firms – were quick to take advantage of the S&Ls' lack of expertise, buying at 60%-90% of value and then transforming the loans by bundling them as, effectively, government-backed bonds (by virtue of Ginnie Mae, Freddie Mac, or Fannie Mae guarantees). S&Ls were one group buying these bonds, holding $150 billion by 1986, and being charged substantial fees for the transactions.
A large number of S&L customers' defaults and bankruptcies ensued, and the S&Ls that had overextended themselves were forced into insolvency proceedings themselves. A Federal Reserve Bank panel stated the resulting taxpayer bailout ended up being even larger than it would have been because moral hazard and adverse selection incentives that compounded the system’s losses.
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Anonymous2008-10-10 4:33
>>11
Nothing wrong with taking out a loan to invest in America. If there is slow growth in income the tax burden on working Americans needs to be reduced. Recession = normal business cycle, if the government steps in it only causes more problems. >>12 >>13
The same cause as the credit crunch, state intervention in the economy in the form of government "sponsored" enterprises and the federal reserve.