i should caveat, i don’t agree that the us economy is powering along with “record employment and strong growth” … more on that here:
good summary of the SVB run…
perhaps we should think of ways to move away from a fractionally-reserved banking system so banks don’t collapse every time “a critical mass of people worry that a critical mass of people will pull their money out” 🤔
https://noahpinion.substack.com/p/why-was-there-a-run-on-silicon-valley
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