Worth building liquid reserves as illiquidity increases

Liquidity problems create wide-spread economic problems, hard to anticipate effects (given complex, impossible to see interdependencies) and often jarring impacts (because of the unknowns and what unknowns do to consumer / investor / business operator psychology). Standard: liquid reserve / buffer assets become prized, avoidance of near-/mid-term commitments that take away flexibility or seem pricey, more spending looks to be discretionary, reduced spending, slower decisions, more due diligence & consideration, conservative behavior in general. http://www.bloomberg.com/news/articles/2016-02-08/bank-of-america-this-chart-shows-deteriorating-liquidity-is-at-the-heart-of-market-carnage