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 Crush - When it comes to notable crises in finance, this is one of the most important that names such as Bob Jain can draw your attention to. During the late 90s, the Internet was becoming integrated into more homes than ever before. Many businesses were started with an Internet focus, too. The problem is that many of these companies couldn't be sustained, so they went out of business soon thereafter.
Wall Street Crash - Otherwise known as Black Tuesday, the Wall Street Crash impacted many in 1929. This stands as the biggest stock market crash in history, and the proof is in the pudding. During this time, many businesses failed and approximately 30 percent of the workforce lost their jobs. In simplest terms, finances were tight. This impacted individuals and families alike, and it would lead to the Great Depression, which we will discuss in detail later.
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 Crush - When it comes to notable crises in finance, this is one of the most important that names such as Bob Jain can draw your attention to. During the late 90s, the Internet was becoming integrated into more homes than ever before. Many businesses were started with an Internet focus, too. The problem is that many of these companies couldn't be sustained, so they went out of business soon thereafter.
Wall Street Crash - Otherwise known as Black Tuesday, the Wall Street Crash impacted many in 1929. This stands as the biggest stock market crash in history, and the proof is in the pudding. During this time, many businesses failed and approximately 30 percent of the workforce lost their jobs. In simplest terms, finances were tight. This impacted individuals and families alike, and it would lead to the Great Depression, which we will discuss in detail later.
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, please consult Bobby Jain.. This article, Robert Jain: The 4 Most Impactful Financial Crises In History is available for free reprint.
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