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> While recessions are normal, I don't think this one will be. So this time it's different? You may be interested in the book This Time Is Different: Eight Cen
by throw0101a 4y ago
> While recessions are normal, I don't think this one will be.
So this time it's different? You may be interested in the book This Time Is Different: Eight Centuries of Financial Folly:
> Throughout history, rich and poor countries alike have been lending, borrowing, crashing--and recovering--their way through an extraordinary range of financial crises. Each time, the experts have chimed, "this time is different"--claiming that the old rules of valuation no longer apply and that the new situation bears little similarity to past disasters.
* https://www.goodreads.com/book/show/6372440-this-time-is-different https://www.goodreads.com/book/show/6372440-this-time-is-dif...
- Arete314159 4y agoSometimes things happen that change dynamics for generations or longer. The Black Plague changed worker-employer dynamics because of the shortage of workers. Software has made plenty of professions obsolete. etc. In this particular time, there are in my opinion some extra gnarly risks that most people aren't talking about.