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How does the 2008 recession stack up with historical recessions? Most people tend to focus on the Great Recession and the Great Depression, but are there any crises that stack up to those, perhaps the Long Depression (1873-79) or the Panic of 1893 (93-97)?
Were the Dot Com Bubble or S&L Crisis on any comparable level to these crises? What was it like living through those, if any anons know.
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>>2535855
In terms of American recessions, it's the worst one since the depression by far. Probably the third worst in our history behind the Panic of 1893.
>Dot Com Bubble
The Dot Com Bubble wasn't even that bad for most people. It only really affected certain industries.
>S&L Crisis
Also wasn't that bad as consumer confidence was so still high that people barely noticed there was a recession going on.
Honestly, outside of the Depression, there's nothing in U.S. history that compares to the 1990 bust in Japan. Their central bank is still in recovery mode and it's been 27 years.
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>>2535863
Yeah, Japan's pretty shit. Is there any hope for them? It seems like Japan has a few problems:
1. Inflating the Yen is a bitch because it's a global safe have for investors
2. Low productivity
3. Large number of retirees/demographics
The only way I can see them getting out of this is through increased automation to make up for their lower population and maybe using monetary policy to do a helicopter drop, Friedman style.
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>>2535863
Also, why was the Panic of 1893 so specifically bad? How does the Long Depression stack up?
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>>2535874
>why was the Panic of 1893 so specifically bad
Imagine the Great Depression and add the fact that the silver crisis gutted currency as well. Unemployment wasn't as high, but the currency issue meant that EVERYONE was severely affected. A little known fact about the Panic is that it also strained German-American relations and was a factor leading Germany to double down on colonialism in 1895.
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the plebs shouldn't into finance
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>>2535855
I've heard it called the small depression by some, so yeah pretty bad.
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>>2535863
Why are you ignoring 1980-1983 recession?
10.4% unemployment, mass crime sprees/drug use, and 8% fall in GDP.
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>>2535863
>S&L
There was no recession in 1987...
Wew this board
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>>2535855
The Great Slump is one of the possible contributing factors that led to the Wars of the Roses.
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>>2537775
The S&L crisis lasted a lot longer than 1987 and directly contributed to the 1990 recession. Wew yourself lad
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