Tag: panic

Race of Arms: Depression

The hot talks over the crisis or perhaps meanwhile in every crisis hold the beast in social sciences. It is okay, and it means to keep going on to take economics degrees on Sunday morning then.

Now that the US economy is recovering from the Depression of 2008, people are wondering when will be the next great economic crash. The business cycle in the USA has had a period of 18 years, so the most likely year for the next great recession is 2026. The Depression of 2026 will have the same causes as the other depressions since the early 1800s (see this article).

Source: The Depression of 2026, Fred Foldvary, Ph.D. Economist

Actually what happened in the 1800s?

The are many events.

I am not so fluent in French. I should have learned the fluency factor in history lessons. Fortunately, I still have protestant friends. The political wisdom is like, why not preaching for all.

Panic of 1837

The Panic of 1837 was a financial crisis in the United States that touched off a major depression, which lasted until the mid-1840s. Profits, prices, and wages went down; unemployment went up; and pessimism abounded.

Wikipedia contributors. (2020, August 7). Panic of 1837. In Wikipedia, The Free Encyclopedia.
Whig cartoon showing the effects of unemployment on a family that has portraits of Democratic Presidents Andrew Jackson and Martin Van Buren on the wall.
Egyptian art. A house altar depicting Akhenaten, Nefertiti and three of their Daughters. Relief. Limestone. New Kingdom. Amarna period. 18th dynasty.
C. 1350 B.C. Egyptian Museum of Berlin. Germany.

There are two illustrations I find extremely close to one certain thing society is looking for during the corona crisis. Maybe it is what best-called fear of God.