examiner.net 13 Jan, 2021 17:30 am

Luke Davis

What happens if large numbers of people lose faith in the banking system?

My great fear is soon people will lose faith in our financial institutions as well.But on the longer term, I have serious concerns about what happens when this same loss of faith we have experienced toward virtually every other bedrock foundation we have as a nation, spreads to our financial institutions.After experiencing 2008, I believe many are very suspect of our financial institutions and it would not take much to push us back into a 1930s-type scenario.Perhaps, the most remarkable part of what I witnessed last Wednesday was that the stock market appeared unfazed.

Many believe it was the stock market crash of 1929 that caused the Great Depression.Obviously we do have significantly more safeguards in place today than were in place 100 years ago.

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