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economist essay on all past financial crises


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Thought it was pretty interesting. Think it helps to get perspective, and not think the world will end the next time some kind of crisis will inevitably happen again.

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I enjoyed that essay quite a bit when I read it last week. The common thread in all those crisis was greed- which isn't surprising to anyone. Furthermore, it was the general confidence that it is a one-way bet and there being plenty of credit.


While reading the essay, I was thinking of today and the whole notion of the Yellen put and low interest rates. I don't think we are at the heels of another 1929 or 1850, but I wouldn't be surprised if a little panic happens in the next 2-5 years.

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