[image source: https://www.bioenergyconsult.com/biggest-financial-crises/]
Question: Do you think we are prepared for another financial crisis?
I don't think we are prepared for another financial crisis, and I doubt we will ever really be prepared for one. I think we're more prepared than we have been in the past, but I don't think we're full ready to combat another crisis. We can create all the safety nets in the world but it is difficult to truly prep for something that is so delicate and volatile. We weren't really prepared for the financial hardships that have happened (and are still happening) during the pandemic. Banks are bigger and better, which is a positive (especially looking at one of the first (and worst) financial crises The Great Depression, but that doesn't mean that they are full-proof or fully prepared. But, debt has gotten worse across the board and with things like hacking and stock manipulation, things could get pretty sketchy. There was that whole thing with GameStop a few months ago (I think) that really highlights how delicate the stock market and economy can be. Government reforms are iffy because there is so much polarization within that it is difficult to actually create legislation. All of this creates a pretty bleak picture in terms of preparation, and with so many other issues stacking on top of each other, throwing in a financial crisis is like adding gasoline to a fire: it's just going to make it even more uncontrollable. So, to sum it all up, I don't think we are as prepared as we might hope or think and I don't think, in our current situation, that is possible to really truly prepare for a crisis just because there are so many variables and so many issues that could bring a crisis or crop up out of one.
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