- 1907 Panic vs 2008 housing collapse
- 1920s Spanic flu vs Covid-19
- What comes next?
Our perception is determined by what we are willing to believe. So, if you cast around for parallels, if you’re actively in search of historical patterns, you will find them anywhere and everywhere. Then again, even if you unconsciously tailor a set of events to fit your preconceptions, you can still draw lessons from them.
The various factors which combined to send the global financial system into a tailspin in 2008 have been endlessly analysed and discussed. Less well-known are the events from nearly a hundred-years earlier, which led to the first global financial crisis of the twentieth century.