History is written by not only great successes but tremendous failures as well. For proof of this, all you have to do is look at the various financial crises that have been impacted the United States and the world at large. Robert Jain can tell you that while these events were unfortunate, to say the least, they stand as historical moments in their own right. With this in mind, here are the 4 financial crises throughout history that made an impact.
Dotcom Crash - The Internet is commonplace these days, but the road to get there wasn't entirely smooth. Enter the dotcom crash of the late 90s to the early aughts, which saw the rise and fall of many online-based businesses. A large part of the fall had to do with the carelessness of these companies, as they offered discounted or free services without considering the long-term implications. This stands as one of the many crises to learn from, as names such as Bob Jain can attest.
Wall Street Crash - Whether you know it as the Great Crash or Black Tuesday, the Wall Street Crash of 1929 left a sizable impact. The stock market hit its lowest point in history, and many people experienced it in their own lives. This was especially true in the job market, as 15 million people soon became unemployed. As far as financial crises are concerned, this was one of the most serious. It also led to an event we will touch on later, the Great Depression.
The Financial Crisis of 2008 - While it's also known as the global financial crisis, this event that took place in 2008 had a sizable impact in its own right. During this time, banks took risks that ultimately weren't in the best collective interest of their clients. What spawned from this was the Great Recession, where a substantial economic downturn was seen. Even with the impact in question, the financial crisis of 2008 can't compare to the final entry on this list.
Great Depression - Many experts cite the Great Depression as the greatest financial crisis in history, and for good reason. Following the Wall Street Crash, the United States entered an economic depression in 1929 that would last for a decade. Unemployment increased to 25 percent across the company, and those that had their jobs saw their pay either plateau or decrease. When Franklin D. Roosevelt, the U.S. President at the time, signed the New Deal, the economy began to improve.
Dotcom Crash - The Internet is commonplace these days, but the road to get there wasn't entirely smooth. Enter the dotcom crash of the late 90s to the early aughts, which saw the rise and fall of many online-based businesses. A large part of the fall had to do with the carelessness of these companies, as they offered discounted or free services without considering the long-term implications. This stands as one of the many crises to learn from, as names such as Bob Jain can attest.
Wall Street Crash - Whether you know it as the Great Crash or Black Tuesday, the Wall Street Crash of 1929 left a sizable impact. The stock market hit its lowest point in history, and many people experienced it in their own lives. This was especially true in the job market, as 15 million people soon became unemployed. As far as financial crises are concerned, this was one of the most serious. It also led to an event we will touch on later, the Great Depression.
The Financial Crisis of 2008 - While it's also known as the global financial crisis, this event that took place in 2008 had a sizable impact in its own right. During this time, banks took risks that ultimately weren't in the best collective interest of their clients. What spawned from this was the Great Recession, where a substantial economic downturn was seen. Even with the impact in question, the financial crisis of 2008 can't compare to the final entry on this list.
Great Depression - Many experts cite the Great Depression as the greatest financial crisis in history, and for good reason. Following the Wall Street Crash, the United States entered an economic depression in 1929 that would last for a decade. Unemployment increased to 25 percent across the company, and those that had their jobs saw their pay either plateau or decrease. When Franklin D. Roosevelt, the U.S. President at the time, signed the New Deal, the economy began to improve.
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