Robert Aro on the fragility of the banking system

We’ve seen this before: A bank becomes insolvent, whether by ignorance or error.  The Fed saves the financial system by giving the same failed bank more money; this is socialism, it is not capitalism. 

Any system which works great until it collapses, then requires a government/central bank bailout is neither sensical nor sustainable.  Anyone holding a position in academia should not support this; but many do because it works so well for those on top.  So here we are.

~ Robert Aro, "More Supervision and Regulation to Prevent Bank Runs?," Mises.org, March 24, 2023

Andy Grove on crisis and business

Bad companies are destroyed by crisis, good companies survive them, great companies are improved by them.

~ Andy Grove

Nassim Taleb on error's relationship to fragility and robustness

For the robust, an error is information; for the fragile, an error is an error.

~ Nassim Taleb, The Bed of Procrustes, p. 72