Molson Hart

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)

would prob also add massive change (Zim land confiscation; E Eur econ liberalization); asset/commodity bubbles leading to credit hangover