The Economic Impact of Banking Turmoil

A good set of brakes is a very comforting thing.  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.  When I drive these days, I take this technology for granted.

 

However, the vehicles I drove as a young man offered far less assurance.  There were times when applying the brakes unleashed a cacophony of shrieking, squealing and grinding noises as worn-out pads battled with rusty rotors.  The braking action would be either be frighteningly nonexistent or of a sudden, whip-lash intensity.  Of course, in those vehicles, the acceleration wasn’t great either.  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.