2008 financial panic repo loans shadow banking run

The 2008 financial crisis included a bank run without people lining up at banks

Traditional bank runs happen when depositors rush to withdraw cash. In 2008, a similar panic spread through short-term wholesale funding markets. Financial institutions stopped renewing loans or demanded more collateral, forcing borrowers to sell assets quickly. The run happened largely between firms rather than at bank counters.

The world's urban area more than doubled in 23 years

33 → 71 million hectares

From 1992 to 2015, land covered by towns and cities grew from 33 million to 71 million hectares worldwide. The expansion used up 24 million hectares of some of the world's most fertile farmland.

No known society relied mainly on barter

Historians and anthropologists have not found a society where barter was the main everyday system of exchange. Societies without ordinary money have generally relied more on gifts, debts, and social obligations.

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2008 financial panic repo loans shadow banking run

The 2008 financial crisis included a bank run without people lining up at banks

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