Robin, there are many possible causes but the convergent results of systemic risk, asset price declines, deleveraging, slows in money velocity, etc. etc. might not be that different across causes. Would Bear Stearns have gone much differently, if an atom bomb had gone off in San Francisco? Staring into one abyss would increase your ability to deal with many others without panicking.
Burger, comfort isn’t the point. You can’t expect to suddenly find a trick method in the actual event, so whatever uncomfortable thing it is you’re going to end up doing, why not know it in advance?
Robin, there are many possible causes but the convergent results of systemic risk, asset price declines, deleveraging, slows in money velocity, etc. etc. might not be that different across causes. Would Bear Stearns have gone much differently, if an atom bomb had gone off in San Francisco? Staring into one abyss would increase your ability to deal with many others without panicking.
Burger, comfort isn’t the point. You can’t expect to suddenly find a trick method in the actual event, so whatever uncomfortable thing it is you’re going to end up doing, why not know it in advance?