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  • The 1980s Savings and Loan Crisis What Went Wrong

    The 1980s Savings and Loan Crisis What Went Wrong
    2026/06/07
    In this episode, Lucas and Luna revisit the Savings and Loan Crisis of the 1980s and early 1990s, which cost American taxpayers over $150 billion. They focus on the specific deregulatory moves—like the Garn-St. Germain Act of 1982—that allowed thrifts to gamble on risky commercial real estate and junk bonds. Lucas explains how the 'moral hazard' problem played out in real time, with directors of insolvent S&Ls doubling down on bad bets. Luna highlights the role of the Keating Five scandal, where five U.S. senators intervened with regulators on behalf of Charles Keating's Lincoln Savings and Loan. They also draw a contrast with the 2008 financial crisis, noting key differences in regulatory architecture and the speed of government intervention. The episode closes with a reflection on what lessons from the S&L crisis still apply today, especially regarding deposit insurance and regulatory capture. #SavingsAndLoanCrisis #GarnStGermainAct #KeatingFive #CharlesKeating #MoralHazard #DepositInsurance #S&L #ThriftIndustry #1980sDeregulation #FinancialCrisis #RTC #LincolnSavings #CrisisHistory #EconomicHistory #Economics #FexingoBusiness #BusinessPodcast #LessonsLearned Keep every episode free: buymeacoffee.com/fexingo
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    9 分
  • The 1981 Air Traffic Control Strike That Broken a Union and Reshaped Labor

    The 1981 Air Traffic Control Strike That Broken a Union and Reshaped Labor
    2026/06/07
    In August 1981, 13,000 air traffic controllers walked off the job, and President Reagan fired them all within 48 hours. This episode of The Economic History Podcast with Fexingo examines the PATCO strike not just as a labor showdown, but as a pivotal moment in the economics of bargaining power, wage setting, and the decline of organized labor in the United States. Lucas and Luna walk through the strike's immediate trigger — a rejected contract offer — and its lasting effects: how it changed the balance of power between employers and unions, contributed to a decade of wage stagnation, and became a template for corporate resistance to collective bargaining. They also connect it to the broader macroeconomic environment of the early 1980s: high inflation, a hawkish Federal Reserve under Paul Volcker, and a newly deregulatory political mood. Why did a single strike matter so much? And what does it tell us about labor markets today? #PATCO #AirTrafficControllerStrike #RonaldReagan #UnionDecline #LaborEconomics #WageStagnation #1980sEconomy #EconomicHistory #LaborUnions #Strike #CollectiveBargaining #Volcker #Deregulation #PublicSectorUnions #FexingoBusiness #BusinessPodcast #Economics #Podcast Keep every episode free: buymeacoffee.com/fexingo
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    9 分
  • The 1966 Credit Crunch That Invented Modern Banking

    The 1966 Credit Crunch That Invented Modern Banking
    2026/06/06
    Episode 35 takes us to 1966, when a quiet squeeze in bank lending triggered something that had never happened before: banks actually turned away customers. Lucas and Luna unpack the 'credit crunch' that forced the Federal Reserve to invent modern monetary targeting, reshaped how banks manage liquidity, and gave us the vocabulary we still use today—from certificates of deposit to the federal funds rate. It's a story about a small regulatory change, a panic in the bond market, and a lesson in how central banks learned to talk to the public. If you've ever wondered why your bank calls you about loans, this episode traces it back to one hot summer in the mid-sixties. #CreditCrunch1966 #FederalReserve #MonetaryPolicy #BankingHistory #CertificatesOfDeposit #Disintermediation #WilliamMcChesneyMartin #RegulationQ #LiquidityCrisis #CentralBanking #Economics #FexingoBusiness #BusinessPodcast #EconomicHistory #1960sEconomy #MoneySupply #FedFundsRate #BankingInnovation Keep every episode free: buymeacoffee.com/fexingo
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    10 分
  • When a Bank Holiday Saved the 1907 Panic

    When a Bank Holiday Saved the 1907 Panic
    2026/06/06
    Episode 34 of The Economic History Podcast explores the Panic of 1907, a financial crisis that nearly collapsed the US banking system. Lucas and Luna break down the specific trigger: the failed attempt to corner the copper market by F. Augustus Heinze and Charles Morse, which brought down the Knickerbocker Trust. They focus on two key figures: J.P. Morgan, who organized a private bailout from his library, and the US Treasury's reluctant role. The episode drills into how this panic directly led to the creation of the Federal Reserve in 1913, changing American banking forever. No vague history lessons—just the specific numbers, names, and decisions that mattered. If you've ever wondered why the Fed exists, this episode gives you the concrete origin story. #PanicOf1907 #JP Morgan #KnickerbockerTrust #F Augustus Heinze #CharlesMorse #CopperCorner #BankingPanic #FederalReserve #CentralBanking #EconomicHistory #Economics #Business #Finance #WallStreet #TrustCompanies #LiquidityCrisis #FexingoBusiness #BusinessPodcast Keep every episode free: buymeacoffee.com/fexingo
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    12 分
  • The Great Depression of 1920 and the Recovery No One Remembers

    The Great Depression of 1920 and the Recovery No One Remembers
    2026/06/05
    In episode 33, Lucas and Luna revisit the forgotten depression of 1920-21—a severe recession that saw unemployment hit 11.7%, industrial production drop 23%, and wholesale prices collapse by 40%. Unlike the 1930s, the government slashed spending, raised interest rates, and did almost nothing. The result? A rapid V-shaped recovery. The hosts examine the mechanics: the Federal Reserve’s sharp discount rate hikes, Treasury Secretary Andrew Mellon’s spending cuts, the collapse of the postwar commodity bubble, and the dramatic wage and price adjustments that cleared labor and goods markets. They also explore why this episode has been weaponized in modern policy debates, and why the comparison with 1929 is far more complicated than advocates suggest. A tight, data-driven look at a depression that ended in 18 months—and what it does and doesn't teach us about austerity, monetary tightening, and recovery. #DepressionOf1920 #AndrewMellon #FederalReserve #PostwarRecession #VShapedRecovery #AusterityDebate #MonetaryTightening #CommodityBubble #DiscountRate #WholesalePrices #WarrenHarding #LaborMarket #EconomicHistory #Economics #BusinessPodcast #FexingoBusiness #PastRecessions #LessonsFromHistory Keep every episode free: buymeacoffee.com/fexingo
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    9 分
  • The 1873 Panic That Triggered the Long Depression

    The 1873 Panic That Triggered the Long Depression
    2026/06/05
    Episode 32 of The Economic History Podcast takes you inside the Panic of 1873 — the banking crisis that spiraled into a global depression lasting six years. Lucas and Luna unpack the collapse of Jay Cooke & Company, the role of railroad overbuilding and speculative lending, the failure of the Coinage Act of 1873 to stabilize the currency, and why this episode became known as the 'Great Depression' before the 1930s took the title. They examine how the crisis reshaped American monetary politics, fueling the Greenback movement and the populist fight for free silver. Listeners learn why a single Philadelphia bank failure triggered a cascade across New York, Europe, and beyond, and how the lessons of 1873 echo in modern financial crises. Perfect for anyone wanting a concrete understanding of how panic propagates through a credit-driven economy. #PanicOf1873 #LongDepression #JayCooke #RailroadBonds #CoinageAct #GreenbackMovement #FreeSilver #Bimetallism #GildedAge #BankingCrisis #EconomicHistory #CreditPanic #Deflation #PopulistEconomics #WorldHistory #Recession #FexingoBusiness #BusinessPodcast Keep every episode free: buymeacoffee.com/fexingo
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    9 分
  • The 1937 Recession That Hit During a Recovery

    The 1937 Recession That Hit During a Recovery
    2026/06/04
    In 1937, the US economy was finally climbing out of the Great Depression. Then it fell off a cliff. This episode unpacks the 'recession within a depression' — how FDR's policy pivot, premature austerity, and Fed tightening snuffed out a recovery that was just finding its footing. We look at the specific trigger: the Federal Reserve doubling reserve requirements in 1936 and 1937, and the Treasury's simultaneous move to sterilize gold inflows. Why did policymakers think tightening was safe? And what does 1937 teach us about withdrawing stimulus too early — a lesson that haunted the 2009 recovery debates and still echoes in fiscal policy today. Lucas and Luna walk through the numbers, the personalities (Marriner Eccles, Henry Morgenthau), and the bitter irony of a depression within the Depression. #GreatDepression #1937Recession #FDR #FederalReserve #MarrinerEccles #HenryMorgenthau #FiscalPolicy #MonetaryPolicy #Austerity #NewDeal #ReserveRequirements #GoldInflows #DepressionWithinDepression #EconomicHistory #Economics #FexingoBusiness #BusinessPodcast #LessonsFromHistory Keep every episode free: buymeacoffee.com/fexingo
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    11 分
  • The 1879 Gold Resumption That Defeated Inflation

    The 1879 Gold Resumption That Defeated Inflation
    2026/06/04
    In 1879, the U.S. government redeemed greenback dollars for gold at par for the first time since the Civil War — a bet that ended years of deflationary chaos and restored global trust in American currency. Lucas and Luna trace how Treasury Secretary John Sherman orchestrated a four-year buildup of gold reserves, why the timing mattered for railroads and farmers, and what the episode reveals about the political difficulty of sound money. They also unpack the parallel with modern post-pandemic inflation-fighting: both eras required sustained credibility through concrete action, not just promises. Specific numbers include the $346 million gold reserve target and the $95 million greenback contraction that preceded resumption. #GoldResumption #JohnSherman #Greenbacks #Deflation #SoundMoney #CivilWarFinance #SpecieResumption #NationalBankingEra #TreasuryDepartment #MonetaryPolicy #USHistory #Economics #FexingoBusiness #BusinessPodcast #EconomicHistory #Inflation #GoldStandard #1879 Keep every episode free: buymeacoffee.com/fexingo
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    7 分