"In economic panics throughout history, the wiping out of the savings accounts of lower earners and the middle class has often led to social revolution, sometimes violent upheavals"

This quote by Nick Clooney recommends that financial panics have actually had a considerable influence on the lower earners and middle class throughout history. When their savings accounts are erased, it can cause social transformation and even violent turmoils. This highlights the value of economic stability and the requirement to safeguard the cost savings of those who are most susceptible. It likewise suggests that when financial inequality is undue, it can cause discontent and even revolution. This quote acts as a reminder of the need to make sure economic stability and to secure the cost savings of those who are most susceptible. It likewise works as a warning that when financial inequality is too great, it can cause discontent and even transformation.