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1970s Oil Crisis

NOVEMBER 1973 – MARCH 1975 (16 months) The 1970s oil crisis really began in 1973. What we see in this crisis is the fact that prices of commodities like oil play a much more vital role in our economy than most think. The world needs so much oil every day to run, and will literally…

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1890s Recession

1893 – 1896 The 1890s recession, also referred to as the panic of 1893, was brought on by the failure of the United States Reading Railroad. The failure prompted European investors to then withdraw their investments, and left the U.S. financial system in a shattered mess. First, the failure of the railroad put many workers…

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Late 1960s Recession

DECEMBER 1969 – NOVEMBER 1970 (11 months) The Late 60s recession, though not nearly as problematic as its predecessor in the early sixties, was characterized once again by unemployment and unhealthy amounts of inflation. The modern economic cycle seems, usually, to bring about smaller “aftershocks” when a notably sized recession comes to an end. The…

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1870s Recession

1873 – 1879 The 1870s recession, also known as the Panic of 1873, was caused primarily by economic problems in Europe. This trouble ignited problems in the U.S., and brought about the failure of the Jay Cooke & Company, which at that time was the largest bank in the United States of America. This helped…

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1990s Recession

JULY 1990 – MARCH 1991 (8 months) The early 1990s recession was caused by a lot of different adverse financial stimuli on the economic environment of the early 90s United States. Black Monday, which occurred in October of 1987, caused a stock market collapse that cut 22.6 percent off of the Dow Jones Industrial Average.…

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Late 2000s Recession

DECEMBER 2007 – PRESENT DAY (13+ months)The late 2000s recession was started by the collapse of the housing market. Suddenly, it seemed like nobody could sell real estate. This put many real estate companies in jeopardy, and some even went out of business. Then, bank collapses caused a sort of public panic. These occurred both…

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Late 1950′s Recession

AUGUST 1957 – APRIL 1958 (8 months) The late 50s recession, also called the recession of 1957, struck the late 50s with high unemployment rates and failing businesses. It was mostly due to the tightened monetary policy of the Federal Reserve. However, as the policy had been tightened two years previous, towards the end of…

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Post WWI Recession

1918 – 1921 The Post-World War 1 recession was a recession that was characterized by severe hyperinflation in Europe, which spread to North America. Though brief, the recession was sharp. A lot of it had to do with the lost production that was halted at the end of the war. This, coupled with the influx…

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Panic of 1907

1907 – 1908 The Panic of 1907 was the first major financial crisis to plague the U.S. in the 1900s, the last recession having been back in the 1890s. The Panic of 1907 was actually a severe monetary contraction that manifested itself as a recession. Many people lost jobs, many businesses went out of business,…

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Post WWI Recession

1918 – 1921 The Post-World War 1 recession was a recession that was characterized by severe hyperinflation in Europe, which spread to North America. Though brief, the recession was sharp. A lot of it had to do with the lost production that was halted at the end of the war. This, coupled with the influx…

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