THE ECONOMIC CRISES IN 1929 AND 2007-2008 CAUSES, CONSEQUENCES AND THE IMPACT IN LATIN AMERICA
1. •THE ECONOMIC CRISES IN 1929
AND 2007-2008
CAUSES, CONSEQUENCES AND
THE IMPACT IN LATIN AMERICA
2. GREAT DEPRESSION
The Great Depression was a severe worldwide economic
depression that took place during the 1930s. The timing of
the Great Depression varied across nations; however, in
most countries it started in 1929 and lasted until the late
1930s. It was the longest, deepest, and most widespread
depression of the 20th century.
3. THE 2008 ECONOMIC CRISIS
It began with the burst of the US housing bubble
4. WHY DID THE HOUSING BUBBLE
OCCUR?
• No regulation of Subprime mortgages
• Low Interest Rates.
• Adjustable Mortgages.
5. 1929-2008: A SIMILAR CONTEXT
• The American economy is flourishing.
• With economic growth comes frantic speculation,
both in this century and the last.
• Easy credit
• 1929-2008: Similar market and banking panic
• 1929-2008: different political solutions
