Meaning: This quote by Jo Bonner, a politician, addresses the concept of economic panics and the behavior they engender in individuals. The quote references "panics" as adverse conditions that prompt people to hoard more than they need, thereby reflecting the impact of financial and economic crises on human behavior.

Throughout the history of the United States, there have been several instances of economic panics, which are characterized by widespread fear, uncertainty, and financial instability. These panics often result from a combination of factors such as stock market crashes, bank failures, and overall economic downturns. One of the most famous economic panics in US history is the Panic of 1837, which was triggered by a sharp decline in the economy following a period of speculative investment and rapid economic expansion.

During times of economic panic, individuals often react by hoarding resources, such as money, food, and other essential goods. This behavior stems from a sense of insecurity and a fear of scarcity, as people worry about their financial stability and the availability of necessary provisions. The act of hoarding can exacerbate the economic crisis by creating shortages and further disrupting the normal flow of goods and services.

The quote alludes to the psychological impact of economic panics on individuals, highlighting how adverse conditions can lead to a sense of urgency and self-preservation. The term "hoarding" implies a sense of irrational accumulation beyond one's immediate needs, driven by fear and a lack of confidence in the stability of the economic system.

Furthermore, the quote suggests that these behaviors during economic panics are not only a reflection of individual responses but also contribute to the broader impact on the financial and economic sectors of the country. The hoarding of resources can disrupt supply chains, exacerbate inflation, and create a climate of scarcity, further deepening the economic crisis.

In the context of the quote, Jo Bonner's observation serves as a reminder of the complex interplay between human behavior and economic conditions during times of crisis. It underscores the psychological and social dimensions of economic panics, shedding light on how individuals respond to uncertainty and adversity in the financial and economic spheres.

Ultimately, the quote by Jo Bonner offers insight into the dynamics of economic panics and their effects on individual behavior. It invites reflection on the ways in which fear and insecurity can influence human actions, particularly in the context of financial and economic crises. By acknowledging the historical recurrence of such panics, the quote prompts consideration of how societies can mitigate the impact of economic instability and support individuals during times of crisis.