Wicksell’s Depression Star, Part 1
Far more banks failed during the S&L crisis than in or after 2008. Yet, from the 80s onward there would be a period of unparalleled economic prosperity. The 10s by contrast only got worse and worse, a Silent Depression. The 20s aren’t looking any better especially as we all revisit bank failures. What gives? The answer is in Wicksell’s Depression Star.
