Tag Archives: Financial Crises

Revive Lincoln’s Monetary Policy: an Open Letter to President Obama

Revive Lincoln’s Monetary Policy: an Open Letter to President Obama by Ellen Brown posted Apr 07, 2009 President Obama at the We Are One Inaugural Celebration at Lincoln Memorial Dear President Obama: The world was transfixed on that remarkable day in January when, to poetry, song, and dance, you gazed upon Abraham Lincoln’s likeness at the […]

18th century crises: Panic of 1796-97

From Wikipedia, the free encyclopedia The Panic of 1796–1797 was a series of downturns in Atlantic credit markets that led to broader commercial downturns in both Britain and the United States. In the U.S., problems first emerged when a land speculation bubble burst in 1796. The crisis deepened when the Bank of Englandsuspended specie payments on February 25, 1797 under the Bank […]

18th century crises: Credit crises of 1772 orginated in London

Credit crisis of 1772 source: wikipedia The Credit Crisis of 1772 originated in London and then spread to other parts of Europe, such as Scotland and Netherlands. Before crisis From the mid 1760s to the early 1770s, the credit boom, supported by merchants and bankers, facilitated the expansion of manufacturing, mining and internal improvements in both […]

18th Century Crises: South Sea Bubble

South Sea Bubble The Governor and Company of the merchants of Great Britain, trading to the South Seas and other parts of America, and for the encouragement of fishing, commonly called the South Sea Company,[1] was a British joint-stock company founded in 1711, created as a public-private partnership to consolidate and reduce the cost of national debt. The company […]

17th century: Tulip mania

Tulip mania was a period in the Dutch Golden Age during which contract prices for bulbs of the recently introduced tulip reached extraordinarily high levels and suddenly collapsed. At the peak of tulip mania, in February 1637, some single tulip bulbs sold for more than 10 times the annual income of a skilled craftsman. It […]