Financial Crises (1810-2010)

In: Finance Global Economy History

18 Jan 2012

A new graphic from HistoryShots, based on Reinhart & Rogoff’s well researched book: This Time Is Different: Eight Centuries of Financial Folly. The top half of the chart maps financial crises in terms of GDP affected, while the bottom indicates number of sovereign defaults.

image

I just ordered a copy. If you’re into this long-term economic history stuff, check out US Booms and Busts (1775-1943).

2 Responses to Financial Crises (1810-2010)

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lam

January 20th, 2012 at 12:01 am

Jeez, and here tea-partiers and ron paul supporters are always saying there were no depressions before the federal reserve started interfering with the free market (a pretty funny claim, since it begs the question of why the fed was ever established). I guess that shows you how some political views hold up under examination…

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LookCloser

January 23rd, 2012 at 10:52 pm

“tea-partiers and ron paul supporters are always saying there were no depressions before the federal reserve started interfering with the free market”

Umm…you need to listen to what TPs and RP supporters are actually saying–not just what you want to hear. No one ever said there weren’t problems before the Fed. However, if you look at the chart, you can see a massive increase in the magnitude, frequency and duration of major crises on a global scale.

Also, there are more players than just the Fed creating a non-free market. In fact, if you look at the forces that the Fed was created to “save us” from, you’ll find that many of the same (in kind) forces that existed then, exist now. In fact, many of the exact same players and dynasties are in play to this day.

But since it’s obvious you aren’t interested in any view other than your own, I guess I’ll leave it at that. Enjoy your unicorns and rainbows. LOL

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