The Panic of 1819 tells the story of the first nationwide economic collapse to strike the United States. Much more than a banking crisis or real estate bubble,
For a while, it seemed impossible to lose money on real estate. But then the bubble burst. The financial sector was paralyzed and the economy contracted. State
Pundits will argue that the 2008 financial crisis was the first crash in American history driven by consumer debt. But in this spirited, highly engaging account