(11-18-2019, 08:06 AM)mikesez Wrote: The 2008 recession caused much less suffering than the 1929 recession.  The main reason was government unemployment insurance.  Wasn't there in 1929, was there in 2008.  Made a big difference for a lot of families.
As for banking, a lot of people would point to the panics of 1837, 1857, 1873, 1893, 1907, and say that such things happen much less frequently now.

A lot of workers went on disability after the 99 weeks of unemployment ran out.  Disability claims (and awards) spiked in 2008-2010.

Also, the panics you listed involved people pulling THEIR GOLD out of banks.  People were very attuned to the solvency of any bank they used, because if the bank went under, the deposits were gone.  A significant number of people kept their wealth out of banks for this reason.

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