, Columnist
What If This Is a Financial Crisis, But With People?
Coronavirus stops the flow of workers and travelers, which could be worse than stopping the flow of credit.
Like a CDO, but of people.
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Ever since the financial crisis we’ve reassured ourselves that such a thing can’t happen again for a long time, that with tame banks and derivatives, there’s no more market voodoo out there strong enough to hex the economy. But maybe the seeds of the next meltdown were staring us in the face all along, whenever we looked in the mirror.