Episode 624 • • 1:40:53 - 1:44:01
624: The Sluggish Cloud
Economic History, Panic of 1857 and Gold Surplus
The Panic of 1857 is analyzed as the first true American depression, potentially caused by an oversupply of gold following the 1849 Gold Rush. This historical parallel is used to discuss modern concerns regarding quantitative easing and the potential for a collapse when virtual money printing exceeds economic capacity.