Finance, as a whole, is rich in history. From the various types of currency that have been used to the deals that businesses have made, it's easy to see that there is much for future agents and advisors to study. They should also be mindful of the biggest crises that occurred throughout history. Not only did people lost money during these periods, but their lives have been made harder as well. Here are the 4 biggest crises in question detailed by Robert Jain.
Dotcom Crash - During the late 90s to the early aughts, the dotcom crash took place during a period where technology was steadily growing. Due to this, there have been many Internet-based companies that began. Many of them couldn't sustain themselves, however, and they were forced to close. In fact, the stock of many large establishments drastically decreased. This stands as one of the greatest financial crises in the eyes of names like Bob Jain.
Wall Street Crash - It is known by many names, Black Tuesday included, but the Wall Street Crash of 1929 remains an imperative moment in financial history. During this time, the stock market hit its lowest point ever. Not only did this moment impact people with stakes in said market, but families as well. Keep in mind that, during this time, approximately 30 of the workforce became unemployed. It should also be noted that the Wall Street Crash would eventually lead to the Great Depression, which will be touched on soon.
2008 Financial Crisis - Dwarfed only by the Great Depression, the 2008 financial crisis is the most recent entry on this list. This event occurred between 2007 and 2008, and it was hallmarked by a lack of regulation among banks. These institutions became more demanding and it ultimately resulted in a crisis that, at the time, affected many people. In fact, if not for the Great Depression, this would be recognized as the number one financial crisis to ever unfold.
Great Depression - Following the Wall Street Crash, the Great Depression began the greatest economic downturn in history. People lost their jobs, pay was being cut, and agriculture became significantly more difficult for those that made a living from it. The Great Depression began in 1929 and would last for a decade. Even though Franklin D. Roosevelt's signing of the New Deal began to help matters, it doesn't change the historical impact of this financial crisis.
Dotcom Crash - During the late 90s to the early aughts, the dotcom crash took place during a period where technology was steadily growing. Due to this, there have been many Internet-based companies that began. Many of them couldn't sustain themselves, however, and they were forced to close. In fact, the stock of many large establishments drastically decreased. This stands as one of the greatest financial crises in the eyes of names like Bob Jain.
Wall Street Crash - It is known by many names, Black Tuesday included, but the Wall Street Crash of 1929 remains an imperative moment in financial history. During this time, the stock market hit its lowest point ever. Not only did this moment impact people with stakes in said market, but families as well. Keep in mind that, during this time, approximately 30 of the workforce became unemployed. It should also be noted that the Wall Street Crash would eventually lead to the Great Depression, which will be touched on soon.
2008 Financial Crisis - Dwarfed only by the Great Depression, the 2008 financial crisis is the most recent entry on this list. This event occurred between 2007 and 2008, and it was hallmarked by a lack of regulation among banks. These institutions became more demanding and it ultimately resulted in a crisis that, at the time, affected many people. In fact, if not for the Great Depression, this would be recognized as the number one financial crisis to ever unfold.
Great Depression - Following the Wall Street Crash, the Great Depression began the greatest economic downturn in history. People lost their jobs, pay was being cut, and agriculture became significantly more difficult for those that made a living from it. The Great Depression began in 1929 and would last for a decade. Even though Franklin D. Roosevelt's signing of the New Deal began to help matters, it doesn't change the historical impact of this financial crisis.
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Would you care for further details regarding finance? If so, kindly contact Bobby Jain.. Check here for free reprint license: Robert Jain: The 4 Most Impactful Financial Crises In History.
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