economic crises
Financial system failures
Economic crises are periods when financial systems or economies experience severe disruption—bank failures, market crashes, currency collapses, or widespread unemployment.
The plural form often appears in discussions of historical patterns: The economic crises of the 1930s and 2008 shared certain features.
A single event is an economic crisis.
Economic decline period
- contractionReduction in size
- slowdownReduction in pace
- stagnationAbsence of flow or progress
- unemploymentBeing without paid work
slump · trough · retrenchment · joblessness · underemployment · cutbacks · redundancies · bear market
1930s global economic crisis
- breadlinesQueues for free food
- HoovervillesDepression-era homeless encampments
- deflationSustained decrease in prices
- povertySevere lack of resources
hardship · malaise · desperation · soup kitchens · bank failures · dust bowl · penury · distress
Excess that escapes
- domino effectSequential causation phenomenon
- systemic riskEconomy-wide collapse potential
- interconnectedJoined in multiple ways
- global spreadExpansion across all nations
emerging markets · capital flight · currency crisis · Lehman Brothers · too big to fail · financial panic · bank run · cross-border
Unproven theorizing or risky investment
- overvaluationAppraising too highly
- tulipmaniaHistoric floral speculation craze
- irrational exuberanceUnjustified collective market optimism
- housing bubbleUnsustainable property price surge
subprime · burst · boom and bust · overheated · unsustainable · correction · frothiness · asset bubble
Extreme rapid price escalation
- stagflationStagnant growth meets inflation
- cost of livingPrice of basic necessities
- purchasing powerEconomic spending ability
- WeimarThuringian city, cultural landmark
currency collapse · devaluation · monetary policy · interest rates · central bank · CPI · commodities · gold standard
Planned spending reductions
- fiscal disciplineControlled government spending
- belt-tighteningReducing expenditures deliberately
- deficit reductionShrinking budget shortfalls
- spending freezeHalt to disbursements
welfare cuts · tax hikes · troika · pension cuts · social unrest · protests · sovereign debt · bond yields
downturn
Economic decline period
- contractionReduction in size
- slowdownReduction in pace
- stagnationAbsence of flow or progress
unemployment · slump · trough · retrenchment · joblessness · underemployment · cutbacks · redundancies · bear market · credit crunch
Great Depression
1930s global economic crisis
- breadlinesQueues for free food
- HoovervillesDepression-era homeless encampments
- deflationSustained decrease in prices
poverty · hardship · malaise · desperation · soup kitchens · bank failures · dust bowl · penury · distress · shantytown
spillover
Excess that escapes
- domino effectSequential causation phenomenon
- systemic riskEconomy-wide collapse potential
- interconnectedJoined in multiple ways
global spread · emerging markets · capital flight · currency crisis · Lehman Brothers · too big to fail · financial panic · bank run · cross-border · transmission
speculation
Unproven theorizing or risky investment
- overvaluationAppraising too highly
- tulipmaniaHistoric floral speculation craze
- irrational exuberanceUnjustified collective market optimism
housing bubble · subprime · burst · boom and bust · overheated · unsustainable · correction · frothiness · asset bubble · South Sea
hyperinflation
Extreme rapid price escalation
- stagflationStagnant growth meets inflation
- cost of livingPrice of basic necessities
- purchasing powerEconomic spending ability
Weimar · currency collapse · devaluation · monetary policy · interest rates · central bank · CPI · commodities · gold standard · fiat money
budget cuts
Planned spending reductions
- fiscal disciplineControlled government spending
- belt-tighteningReducing expenditures deliberately
- deficit reductionShrinking budget shortfalls
spending freeze · welfare cuts · tax hikes · troika · pension cuts · social unrest · protests · sovereign debt · bond yields · credit rating
- economicssupply and demand, inflation, GDP, GNP, gross domestic product
- Slovak economyGDP growth, fiscal reforms, monetary policy, banking sector, automotive sector
- Peru historyGuzman, Lima, Machu Picchu, guano, railroad era
- fiscal historypublic debt, national debt, government bonds, treasury bonds, tax reform
economic criseseconomic prosperity
Sustained financial health broadly
prosperity · economic expansion · economic growth · full employment · affluence
economic crisesbull market
Period of rising prices
irrational exuberance · consumer confidence · investor confidence · animal spirits · market rally
economy, economic, economical, economics, economize, economist, economizing, economists, economies