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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
..... Click the link for more information. ). 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.
..... Click the link for more information. . 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.
..... Click the link for more information. ), 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
..... Click the link for more information. 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
..... Click the link for more information. 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.
See M. A. Bernstein, The Great Depression (1989); C. P. Kindleberger, Manias, Panics, and Crashes (1989); C. R. Morris, Money, Greed, and Risk (1999).
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).
Unix manual page: panic(8).
Action taken by software which discovers some fatal problem which prevents it from continuing to run.
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.