Category: Booms and Busts

Booms and Busts, Economics

The Panic of 1837: A Crisis Born from Fractional Reserve Banking, Not Jacksonian Reform

The Panic of 1837 has long been mischaracterized in many historical narratives as the direct consequence of President Andrew Jackson’s destruction of the Second Bank of the United States and the implementation of the Specie Circular. According to this view, Jackson’s opposition to centralized banking destabilized the economy and directly triggered the crisis. However, this interpretation not only oversimplifies a multifaceted economic breakdown but also … Continue reading The Panic of 1837: A Crisis Born from Fractional Reserve Banking, Not Jacksonian Reform

Unknown's avatarTim SweeneyLeave a comment
Banking, Booms and Busts, Economics, Systems of Governance

The Fiat Currency Trap: How Central Banking Distorts Global Wealth and Production

The global economy operates under a fiat currency system controlled by central banking authorities, leading to severe imbalances in capital flows, wealth distribution, and real productivity. As central banks manipulate money supplies and interest rates, investors and speculators are forced to seek out the most profitable currencies for production. This results in artificial economic advantages for certain nations, while others are left struggling—not due to … Continue reading The Fiat Currency Trap: How Central Banking Distorts Global Wealth and Production

Unknown's avatarTim SweeneyLeave a comment
Banking, Booms and Busts, Economics, Gold

The Panic of 1819: America’s First Economic Crisis

The Boom Before the Bust Following the War of 1812, the United States entered a period of rapid economic expansion. A surge in land speculation, fueled by easy credit and an abundance of paper money issued by state and local banks, led to skyrocketing land prices. Farmers, merchants, and speculators eagerly borrowed money to purchase land, believing that values would continue rising indefinitely. This speculative … Continue reading The Panic of 1819: America’s First Economic Crisis

Unknown's avatarTim SweeneyLeave a comment
Booms and Busts, Economics

The Panic of 1796–1797: A Financial Crisis That Echoes Through History

The Panic of 1796–1797 stands as one of the earliest financial crises in the United States and serves as a timeless lesson in the dangers of speculative bubbles, credit overextension, and paper money. Triggered by a combination of these factors, the crisis offers a striking parallel to today’s financial landscape, where the same patterns of economic instability continue to unfold. This article delves into the … Continue reading The Panic of 1796–1797: A Financial Crisis That Echoes Through History

Unknown's avatarTim SweeneyLeave a comment
Booms and Busts, Economics

Tulip Mania: The First Speculative Bubble

Tulip Mania was a speculative bubble that occurred during the Dutch Golden Age in the early 17th century when prices for certain tulip bulbs reached extraordinary levels. Starting around 1634, tulip prices soared due to the popularity and rarity of certain varieties, leading to a frenzy of trading among wealthy Dutch citizens and speculators. By February 1637, the bubble burst, and prices collapsed dramatically, leaving … Continue reading Tulip Mania: The First Speculative Bubble

Unknown's avatarTim SweeneyLeave a comment