Jose was laid off in 2008 due to the financial crisis in the…

Jose was laid off in 2008 due to the financial crisis in the US. This crisis forced many employers to downsize their company. As a result, Jose went from being upper middle, to class to lower class. The only job he could get was a part-time job at Walmart. He could not find a job that would pay him higher wages until the economy was more stable in 2017. Jose’s case is an example of structural social mobility

We know that a Bank Run is possible in the US because if eve…

We know that a Bank Run is possible in the US because if everyone withdrew their money at once banks would not have enough funds, this could cause a panic. We watched a Milton Friedman story about the bank in Utah dealing with this type of panic. Also, did the FED do a good job as a lender of last resort during the Great Depression?