Names like Boston Tea Party, Wall Street, Petroliferous Crisis or Troika light a red light on us all. What led to the 5 largest episodes of economic terror of recent times?
Financial instability has plagued the world in recent years, and the geopolitical strategy of countries such as the US or Russia have scared not only Europeans, who fear serious consequences for the uncertainty for investments and customs war that Donald Trump has begun.
At these times, however, it is good to remember that there have already been dark times, that more or later reversed, with more or less help from global institutions. The encyclopedia names 5 examples, and should still remember some.
1772: tea and crisis year
On December 16, 1773 took place in the US the famous protest known as Boston Tea Party. But the year before the economic conjuncture gave signs of rupture.
At this point, several regions of the US were still under the domain of the British Empire. This dominance in the colonies filled the English optimismand did with a rapid expansion of credit.
But, like most cycles of enthusiasm scholars, this one had an end, which happened with the escape to France of one of the partners of an important British banking home – was the escape debt.
O crash fellow affected the entire British Empire, and according to the histories was one of the great responsible for the Boston Tea Partywhen about 5,000 people spoke out against the English rate imposed on the US tea.
The movement was repeated in several cities around the world, and the economic crisis in the British Empire was a drop of water in the triggering of American Revolution.
1929: Wall Street, my… Terror
With the fall of the Wall Street scholarship, narrated in all twentieth-century history books, the worst crisis of the last century originated. The great depression was a black phase of the history of industrialization, with the countries most involved in this sector to record record losses.
In the call “Black Monday”When the values of the scholarship sank, many shareholders committed suicide. From then on, inflation did not stop climbing, and hundreds of thousands of families lived for several years in deep misery.
Us United States, to unemployment rate reached almost 25% At the peak of the crisis in 1933. The crisis lasted about 10 years, and affected the whole world.
1973: Black gold in black times
This crisis began in geopolitics, more properly because of the Fourth War Israelo-Arab. It all started with the US decision to send weapons to Israel, taking one side in the conflict. I had everything to go wrong – and it gave.
The Arab countries of the Middle East, members of the Opep Petroleum Exporting Countries, rich in black gold, decided to boycott the US. The consequent increase in the price of oil in the US country sank him into a major crisis, the so-called “oil crisis”. THE Energy price climbedand inflation fired.
Economists call this period “stagflation”(Stagnation and inflation), which affected all countries in the world, especially the most industrialized. It took several years to recover.
1997: Falling Asian Tigers
This crisis has stripped on the Asian continent, with the so -called “Asian tigers” (Thailand, Indonesia, Malaysia, Singapore, Hong Kong and South Korea), that is, the largest power of the continent, enjoying a wave of financial optimism, which fell quickly.
In July 1997, the Thai government had to Abandon the Fixed Exchange Rate compared to the US dollar. Panic settled as investors around the world suspicious of the consistency of eastern Asia governments.
The collapse was on the world scale, and the International Monetary Fund (IMF) intervened to create rescue packages for the most affected economies.
2007: The Great Recession
The crisis we watched at the beginning of this century began with the collapse of the US real estate bubble. It is still in the imaginary of all of us to climb prices, the instability and the Troika nightmare of so many Portuguese for symbolizing the deepest crisis we have watched to this day since the great depression.
After the real estate bubble bursts, the Lehman Brothers bankruptcyone of the largest investment banks in the world, fired several financial institutions around the world for collapse between 2007 and 2008.
Troika remained in Portugal until 2014. Its goal was to create a credit guarantee to try to reverse the calls “Sovereign debt crises”. It was a dark period for the history of the 21st century. While the world awaits expectant for the unfolding of global economic events, it remains to be remembered history.
