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by onlyrealcuzzo
2267 days ago
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https://en.m.wikipedia.org/wiki/Panic_of_1893 ^ for anyone who doesn't know, 1893 seemed to be the first of many Argentine financial crises, caused by a wheat crop failure, which caused a negative feedback loop as (mostly) European investors pulled out of South Africa and Australia. The effects spilled over into the US and UK financial systems, led to runs on the banks, and caused a severe recession for 2 years. |
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