There’s a financial fault line that runs through the heart of our economy. Wall Street’s most recent rumblings—which saw the major indices take a dive in response to weak growth in China—are a stark reminder of the danger. If the stocks go tumbling in, so do our businesses, jobs, paychecks, and pensions. The tremors may have subsided for the moment, but if we’re to give the late financial seismologist Charles Kindleberger any credit, the next big one could be right around the corner. According to Kindleberger’s classic book Manias, Panics and Crashes, the market sees notable financial quakes or “panics” …
Slower money is the key to a real economic recovery
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