In the economy, there are ups and downs, there are some moments when the market is euphoric and the winds seem to blow all in the right direction.

The problem happens when the contrary is the rule of the day. There are some moments when all you see in your graphic is a big waterfall and you don’t know where it will end.

So, today, let’s take a look at the biggest financial losses and crises that happen over the course of history.

Keep in mind that they are not in any particular order, and they were the only financial crisis that happened over the course of history.

London was the starting point of this crisis, which swiftly extended to the rest of Europe.

Through its colonial possessions and trade, the British Empire had amassed great wealth by the middle of the 1760s.

This led to a period of rapid credit expansion by many British banks and an air of over-optimism. On June 8, 1772, Alexander Fordyce, a partner in the British banking firm Neal, James, Fordyce, and Down, fled to France in order to avoid paying back his debts, putting an abrupt end to the hysteria.

Upon hearing the news, creditors in England started to line up in front of British banks to demand immediate cash withdrawals, which swiftly spread and caused a banking panic.

Scotland, the Netherlands, other countries in Europe, and the British American colonies all experienced the rapid spread of the subsequent catastrophe.

The Boston Tea Party protests and the American Revolution, according to historians, were greatly influenced by the economic effects of this crisis.

Between 1929 to 1939, there was a severe global economic crisis known as the Great Depression. It started as a result of a sharp decline in American stock values.

The stock market disaster on October 29, 1929, known as Black Tuesday, made the economic contagion, which started about September 4, 1929, well known.

The global economic shock had differing degrees of effects on the various nations, with the Great Depression beginning in 1929 for the majority of them.

The Great Depression is frequently used as an example of a severe global economic depression since it was the longest, deepest, and most pervasive depression of the 20th century.

Global gross domestic product (GDP) declined by an estimated 15% between 1929 and 1932. In contrast, during the Great Recession, the global GDP shrank by less than 1% from 2008 to 2009.

Some economies began to recover by the middle of the 1930s. The Great Depression had devastating repercussions in both rich and poor countries, with plummeting personal income, prices, tax revenues, profits, and prices.

However, in many countries, the negative effects persisted until the start of World War II. International trade decreased by more than 50%, while unemployment increased to 23% in the United States and up to 33% in certain other countries.

When the United States chose to retaliate against other OPEC (Organization of the Petroleum Exporting Countries) members for supplying Israel with weapons during the Fourth Arab-Israeli War, the crisis got started.

Oil exports to the United States and its allies were abruptly stopped after OPEC members imposed an oil embargo.

This resulted in significant energy shortages, a sharp increase in oil prices, and an economic crisis in the United States and many other affluent nations.

The subsequent crisis was notable for the occurrence of both extremely high inflation (caused by the increase in energy prices) and economic stagnation at the same time (due to the economic crisis).

Therefore, the period was known by economists as one of “stagflation” (stagnation plus inflation), and it took several years for output to increase and inflation to return to its pre-crisis levels.

I guess it isn’t called the “Black Gold” for no reason.

The Global Financial Crisis (GFC), often known as the Financial Crisis of 2008, was a serious global economic downturn that started in the early twenty-first century.

Mortgage-backed securities (MBS) tied to American real estate, as well as a vast web of derivatives linked to those MBS, collapsed in value as a result of predatory lending targeted at low-income homebuyers, excessive risk-taking by global financial institutions, and the bursting of the US housing bubble.

Lehman Brothers bankruptcy on September 15, 2008, and the ensuing global banking crisis brought about catastrophic harm to financial institutions all across the world.

The causes of the financial crisis were numerous and complex. Nearly 20 years ago, the U.S. Legislation encouraging finance for affordable housing had been passed by Congress.

 Financial firms are now able to combine their commercial (risk-averse) and proprietary trading (risk-taking) operations because of the elimination of portions of the Glass-Steagall law in 1999.

The fast emergence of predatory financial products, which catered to low-income, underinformed homebuyers who were disproportionately members of racial minorities, was arguably the biggest factor in creating the conditions essential for the financial catastrophe.

Regulators neglected to monitor this market development, which took the U.S. government off guard.