Bank collapses in America and Europe may be a sign of financial and political crises to come. Or they may just be the result of a bank run by idiots. Will the recent collapse of Silicon Valley Bank and Credit Suisse Bank lead to a replay of the 2008 financial crisis? Will our leaders learn the lessons of history from the series of financial crises since 1998? Will they stay calm in the crisis, or will bad money spread like a contagion into failing democracies?
This episode discusses:
- the significance of the recent bank collapses in Europe and America, and what exactly happened?
- the lessons of history for how governments respond to financial crises and how they spread into political crises
- the best historian to follow if you want to understand financial crises and their links to the crisis of the multipolar world, Adam Tooze
Full details about the material referred to during this show can be obtained from my free weekly newsletter that you can subscribe to at jeffrich.substack.com.
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94. Bank Collapses and Political Crises. Calm or Contagion?