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This is a pretty interesting wiki article. Apparently, recessions were much more frequent in the 1800s than the 1900s. https://en.wikipedia.org/wiki/List_of_recessions_in_the_United_States …
Recessions in the past 200 years seem to fall into these categories: 1. Loss of confidence in currency from counterfeiting 2. Constraint of trade (war or tariffs) 3. Massive inflation caused by lack of confidence in the currency 4. Loss of confidence in the banks i.e bank runs.
5. Deflation (this is a big one prior to about 195)) 6. Supply constraints for important commodities (i.e. oil) 7. General fear and loss of confidence (September 11th)
I don't understand inflation prior to the ending of gold convertibility. It seems like early American money was issued by semi-private banks and that this inflation was caused by a lack of confidence in their sustainability? Looks like whatever goes on in Hong Kong.pic.twitter.com/JmGfpxRUK3
Maybe it was something like this? I guess the modern equivalent would be someone finding a rumpled up bitcoin password in an old jacket from 2011.pic.twitter.com/pBHQCsfoKU
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