11 Most Costly Disasters of All Time

[Buena Fortuna]

Originally Posted by Sr Mike

What does the war have to do with the economy crashing? Does this include the failed mortgages?

Excess $$ that was in the federal system was used to fund the war efforts and related expenses which started the credit tightening noose. Banks then had to increase deposits to cover debt because they couldn't get fed money. Then the had to cut back on how much and who they loaned to. People couldn't access credit and that started the dominoes falling about four + years ago and it has progressed downhill like a snowball until it became the avalanche that it is today. The two are not directly related but there was a definite cause and effect.