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The Panic of 2023 (EP.299)

Animal Spirits Podcast

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What if They Don't?

The stock market fell 50% industrial production crashed. The unemployment went up like from 2.5% to 8%. If it wasn't for the Great Depression, we probably look back at that one as one of the worst crises in history. Do you want us to go back to the days of- Like, let the risk takers be punished? Who the depositors? Regular people? Right. That's not the way that this is going to work. Never.

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