The Economic Impact of Banking Turmoil

Published: March 20, 2023, 4:52 p.m.

A good set of brakes is a very comforting thing.\xa0 A gentle tap of the foot should produce a quiet and gentle deceleration, as brake pads press up against disc rotors, in a smooth but firm action.\xa0 When I drive these days, I take this technology for granted.\n\xa0\nHowever, the vehicles I drove as a young man offered far less assurance.\xa0 There were times when applying the brakes unleashed a cacophony of shrieking, squealing and grinding noises as worn-out pads battled with rusty rotors.\xa0 The braking action would be either be frighteningly nonexistent or of a sudden, whip-lash intensity.\xa0 Of course, in those vehicles, the acceleration wasn\u2019t great either.\xa0 However, any temptation I might have had to drive more quickly was quickly squashed by doubts about my ability to slow the car back down again when I needed to.