panic

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Related to panics: Moral panics

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).

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.

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.
References in classic literature ?
It's dog eat dog, and I ain't overlooking any meat that's floating around," Daylight proclaimed that afternoon to Hegan; and Simon Dolliver went the way of the unfortunate in the Great Panic who were caught with plenty of paper and no money.
By dinner, his brain was well clouded and the panic forgotten.
He knew the panic of terror which the scent of the Gomangani inspired within that savage breast, and as night drew on, hope died within his heart and in the stoic calm of the wild beast which he was, he resigned himself to meet the fate which awaited him.
The first panic of terror relieved, he urged his men forward to attack with their heavy elephant spears; but as they came, Tantor swung Tarzan to his broad head, and, wheeling, lumbered off into the jungle through the great rent he had made in the palisade.
A panic in a crowd, which partakes of a sort of community of interest, is not so terrible as a panic when one is by oneself; and such a panic I now suffered.
He even felt a passing wonder at his previous attacks of panic.
I think the recent global crisis is best understood as a classic financial panic transposed into the novel institutional context of the 21st century financial system," the chairman said during a November 8 talk at a research conference in Washington, D.
This paper offers a sociological examination of the place of gender in the accounts of twenty-two research participants, all of whom self-identify as having Panic Disorder with Agoraphobia, a condition to which they uniformly refer in conversation as simply "panic.
If you dared venture back between 1854 and 1919, you could very well find yourself smack in the midst of the Panic of 1857, the Panic of 1873, the Panic of 1893, the Panic of 1896, the Panic of 1910, the Long Depression, or any of a host of nasty recessions.
This essay posits that a series sex and moral panics, encompassing these themes, undermined support for the welfare state, leading to the 1996 "reform.
Eternal vigilance to these moral panics isn't the price only of liberty; it's the price of rationality and national sanity.
Jenkins generally avoids showing his cards, but he is mostly sympathetic to the conservative trend in American life, and sensitive to the way moral panics that put the population in a more conservative mood frequently originated on the left.