Originally posted by: Jeff7
Originally posted by: Duddy
I heard that the insurers might pull out. That's why I asked. I don't want the FDIC to stop insuring my money. And then my bank closes and I can't get my money.
I'm not a woowoo, but I haven't exactly ever lived through an economic crisis.
Heard? From who? The New York Post? The National Enquirer?
The economy is cyclical, I think because people get impatient, and act too quickly. If the economy seems to be strong, people overspend, or else it starts to grow too quickly, past equilibrium. Then it slows down, and might go into a recession, to eliminate some of the extra business and money flying around. Once the economy's pared down again (though still to a level that results in net growth), it starts to gain momentum once again. Then overspending and overgrowth starts up, and the cycle is complete.
It's like blood flow resulting from a heartbeat, rather than a steady flow. The economy moves forward in a surge, then slows, then surges again, then slows. But like the bloodstream, the net movement is forward.
Originally posted by: JayMassive
Is Anandtech FDIC insured? If Anandtech sucks, and the economy sucks enough to pull his money out of banks and move to a cave or whatever, how will that work?
We're insured by NEF: National Endowment for Facetiousness. Its CEO, Rick Astley, says that he will do whatever it takes to keep the money rolling, as only Rick can do. I understand that there's some sort of partnership with Youtube involved in that.