•THE ECONOMIC CRISES IN 1929 AND 2007-2008

CAUSES, CONSEQUENCES AND THE IMPACT IN LATIN AMERICA

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.

THE 2008 ECONOMIC CRISIS It began with the burst of the US housing bubble 

WHY DID THE HOUSING BUBBLE OCCUR?

• No regulation of Subprime mortgages• Low Interest Rates. • Adjustable Mortgages.

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

EFFECTS IN LATIN AMERICA