[Article] Top 10 Worst Financial Crises…till now

[Daniel]

A financial crisis is one of the most dreaded buzzwords which is heard or read around the world. Either an economy is facing a recession or even a financial crisis or there is a fear that it may be headed towards one, depending on the several macroeconomic indicators.

Let us look at top 10  worst global financial crisis the world has faced so far:

#1. The Tulip Mania of 1634

#3. The Panic of 1797

#5. The great depression 1929

#7. The oil crisis of 1973

#8. The Asian Financial Crisis of 1997

#10. Great Recession of 2007 – 2008

#11. The Mother of All Recessions – 2020 [Bonus 😲]

Read the full article here: https://ten.info/worst-financial-crises/

[Fegore]

Most recently, I read an article that crises are an absolutely natural phenomenon, which is necessary to eliminate inactive business and economic models and to make something new come true. It seems to me that it makes sense. 

[Kataxe]

Financial crisis is the most dangerous thing ever that normally threaeten the global market whenever it occurs. Most businesses normally collapse and may take a long duration to come back to normal. Some even rich a level beyond recovery. The worst financial crisis that affected many nations for a long time, was the oil production crisis.

[SueHender]

nice

[coinsrider]

Interesting Topics Insights and Reading.

[Guest willingsgate]

A global financial crisis is the most feared, because as the developed countries suffer from losses due to recession, the developing countries suffer more. Bank loan cuts will limit investment, slow GDP, and raise unemployment. Even if any developing country’s financial systems are spared major damage, the fact that industrialised economies are facing a recession is likely to impact them.

[widhie75]

Indonesia has also been hit by an economic crisis, many large companies collapsed due to the impact of the Asian crisis in 1998.
However, everything has been resolved well so far.

Soon, Indonesia may face another crisis due to events abroad, but remain optimistic that everything will pass well.

[Daniel]

@widhie75 yeah I know about the Asian cris but Indonesia recovered pretty well. However there is still room to grow. 

[coinsrider]

On 6/23/2022 at 12:42 PM, willingsgate said:

A global financial crisis is the most feared, because as the developed countries suffer from losses due to recession, the developing countries suffer more. Bank loan cuts will limit investment, slow GDP, and raise unemployment. Even if any developing country’s financial systems are spared major damage, the fact that industrialised economies are facing a recession is likely to impact them.

Agreed.

[AdamArehart]

The most hazardous event to ever happen is a financial crisis, which often threatens the world market anytime it does. The majority of businesses typically fail and take a while to go back to normal. Some even had wealth that was unrecoverable. The oil production crisis was the greatest financial disaster to hit several countries in a long time.

[Guest Phrenology]

This was an interesting topic. We are currently dealing with another financial crisis and I hope we will get through this one without much problems.

[Guest]

21 hours ago, Phrenology said:

This was an interesting topic. We are currently dealing with another financial crisis and I hope we will get through this one without much problems.

It is indeed. Here is an article I wrote about it: 

 

[Sacralized]

I didn’t know about many of these. Thanks for sharing.

[ottodickmann]

Financial crisis also meand money, ans subforum seems to be for threads not about money! 🙂