AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
What's the Effect of Bank Runs on the Economy?
When money is tight, people save more and they spend less. In a recession, that's fear feeds on itself; in a boom, the sort of desire to consume feeds on itself. Daniel: People texting me, I haven't heard from in years saying, wow, should I cancel this? Should I put that? This is highly deflationary. And we're just going to chill. Let's enjoy it for a little while and chill.