If there is one thing almost all observers of the economic scene have agreed about, it is that the issues facing the U.S. economy in 2023 are very different from those it faced in its last crisis, in 2008.
Back then, we were dealing with collapsing banks and plunging demand; these days, banking has been a back-burner issue and the big problem has seemed to be inflation, driven by too much demand relative to the available supply.
Yet suddenly we seem to be replaying some of the same old scenes. Silicon Valley Bank wasn’t among the nation’s largest financial institutions, but then neither was Lehman Brothers in 2008.
But SVB