This Time Its Different - Eight Centuruies

[MulaMan]

Historical look at eight centuries of financial crises.

http://www.economics.harvard.edu/fil..._Different.pdf


The current crisis is right on track. It is just an average financial crisis so please move on, nothing to see here.

1. Ignorance and Arrogance - check
2. Short Term Debt - check
3. Financial De-regulation - check
4. Rising Asset Prices - check
5. Slowing Economy - check
6. Upper Class Bailouts - check
7. Expropriations - check
8. Default through Inflation - check
...

Some great tables for the "this time is different" people to gawk at:

Table 11. “Default” through Inflation: Asia, Europe, and the “New World” 1500–1799

Look at the column "Number of HyperInflations" - lots of 0s in there?

[pwcmba]

Re: This Time Its Different - Eight Centuruies

It's over Johnny!:mad:

[Master Shake]

Re: This Time Its Different - Eight Centuruies

Historical look at eight centuries of financial crises.

http://www.economics.harvard.edu/fil..._Different.pdf


The current crisis is right on track. It is just an average financial crisis so please move on, nothing to see here.

1. Ignorance and Arrogance - check
2. Short Term Debt - check
3. Financial De-regulation - check
4. Rising Asset Prices - check
5. Slowing Economy - check
6. Upper Class Bailouts - check
7. Expropriations - check
8. Default through Inflation - check
...

Some great tables for the "this time is different" people to gawk at:

Table 11. “Default” through Inflation: Asia, Europe, and the “New World” 1500–1799

Look at the column "Number of HyperInflations" - lots of 0s in there?

In reading through the chronological list of crises, I noted that they did not include the Panic of 1920. I guess it's a form of survivorship bias, since the Panic of 1920 was handled properly by a much maligned President, Warren G. Harding. No bailouts, no expansion of the government, just let the system work it out.

http://www.dailyreckoning.com.au/har...is/2009/10/26/