panic

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panic,

crisis in financial and economic conditions, marked by public loss of confidence in the financial structure. Panics are characterized by a general rush of investors to convert their assets into cash, with runs on banks and a rapid fall of the securities market. Bank failures and bankruptcies naturally follow. Students of economic cycles have paid much attention to the process of panics, but without definitive result. Perhaps the earliest panic of modern capitalism occurred during 1720 in France and England. Known as the "Mississippi Bubble," it was touched off by wild speculation in the stock of John Law's colonizing company (see Mississippi SchemeMississippi Scheme,
plan formulated by John Law for the colonization and commercial exploitation of the Mississippi valley and other French colonial areas. In 1717 the French merchant Antoine Crozat transferred his monopoly of commercial privileges in Louisiana to Law, who, with
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). The first major panic in the United States came in 1819, after the War of 1812. The panic of 1837 was much more severe; it was brought on primarily by irresponsible financial operations in Western lands. Another crisis in 1857 was caused in part by massive European speculation in American railroads. Thus, when the panic struck it affected both Europe and the United States. In 1869 stock manipulations brought on the panic known as Black FridayBlack Friday,
Sept. 24, 1869, in U.S. history, day of financial panic. In 1869 a small group of American financial speculators, including Jay Gould and James Fisk, sought the support of federal officials of the Grant administration in a drive to corner the gold market.
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. In 1873 there was a financial crisis in Vienna, as well as an American panic marking the bitter contest between agrarians (see Populist partyPopulist party,
in U.S. history, political party formed primarily to express the agrarian protest of the late 19th cent. In some states the party was known as the People's party.
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), caught by overextended credit, and the financial interests. That conflict continued and was again reflected in the crises that came in the panics of 1893 and 1907. No great panic occurred again until 1929, when the U.S. stock market crash helped to precipitate a worldwide financial crisis. Confidence was not restored until after 1933, and the effects of the panic were felt throughout the Great DepressionGreat Depression,
in U.S. history, the severe economic crisis generally considered to have been precipitated by the U.S. stock-market crash of 1929. Although it shared the basic characteristics of other such crises (see depression), the Great Depression was unprecedented in its
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 of the 1930s. Since 1929, central bankscentral bank,
financial institution designed to regulate and control the money supply of a nation, with the goal of fostering economic growth without inflation. Although central banking systems have varying levels of autonomy, there is generally a significant level of government
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 have been quick to provide liquidity to falling markets in order to prevent panics. For example, when the New York Stock Exchange dropped over 508 points (22.6%) on Oct. 19, 1987, the Federal Reserve released a large sum of money overnight to meet demands on brokers. In Sept.–Oct., 2008, the Federal Reserve and U.S. Treasury took more drastic and wide-ranging measures to ensure liquidity and stability in a financial system reeling from the effects of a collapsing housing bubble and the resulting credit crunch and accelerating stock market decline.

Bibliography

See M. A. Bernstein, The Great Depression (1989); C. P. Kindleberger, Manias, Panics, and Crashes (1989); C. R. Morris, Money, Greed, and Risk (1999).

The Columbia Electronic Encyclopedia™ Copyright © 2013, Columbia University Press. Licensed from Columbia University Press. All rights reserved. www.cc.columbia.edu/cu/cup/

panic

(operating system)
What Unix does when a critical internal consistency checks fails in such a way that Unix cannot continue. The kernel attempts to print a short message on the console and write an image of memory into the swap area on disk. This can be analysed later using adb. The kernel will then either wait in a tight loop until the machine is rebooted or will initiate an automatic reboot.

Unix manual page: panic(8).

panic

(2)
Action taken by software which discovers some fatal problem which prevents it from continuing to run.
This article is provided by FOLDOC - Free Online Dictionary of Computing (foldoc.org)

Panic

(dreams)
The feeling of panic suggests lack of control and confusion. If the primary emotion in your dream is panic, consider the details and try to understand its cause. Do you feel fear, a sense of confused helplessness, or were you unable to make a quick and accurate decision? Answering these questions will enable you to understand the message in this dream.
Bedside Dream Dictionary by Silvana Amar Copyright © 2007 by Skyhorse Publishing, Inc.
References in periodicals archive ?
She said she had "one too many" glasses of wine, and panicked after she and her husband were pulled over.
He apologised to police and said he panicked, not wanting his vehicle taken off him.
"He panicked. It came alight more than he expected and he decided to get rid of it."
Twitter has been hacked panicked too (" If they can hack Twitter, how safe are the others?").
The police had no idea a crime was being committed until the man panicked and ran, a Public Prosecution spokesman revealed yeserday.
In the Fifties, the elders panicked when they finally figured out what their kids had been devouring for decades in comic books.
Many will know the story from films and from the tale of the 1938 Orson Welles radio broadcast that panicked America.
Barely educated on the subject, his friends are panicked, and this health scare motivates Bei to inch out of the closet and confront--and hopefully seduce--his longtime crush Jie.
A New York Times article, published on the same day the Committee met, postulated that, in the event of an emergency such as a terrorist attack, flaws in the memorial's design could create dangerous bottlenecks during a panicked mass exodus on the structure's vast subterranean floors.
A WARWICKSHIRE man has told an inquest how he panicked following the sudden death of a woman in his home.
An administration that was panicked about Iraq's virtually nonexistent nuclear programs is blase as North Korea reprocesses plutonium, enriches uranium, and gets set to produce up to 200 atomic weapons by 2010.
London--Health authorities in Tony Blair's "New Labour" Britain panicked recently on the release of statistics showing the U.K.