10/23/2009

It's Never Different This Time

An interesting look back at the crash of 1929. Sounds kind of familiar to the crash of 2008.

Remember these crashes the next time someone tells you it's different this time.

It's never different this time.

There is no "new economy", real estate doesn't go up forever, oil prices don't go up forever, dot com companies with no net income (or revenue for that matter) are not good investments, Asian tigers become lame ducks, tulips are not as good as gold, and you cannot spend more money than you earn forever!!

"Those who cannot remember the past are condemned to repeat it." George Santayana

3 comments:

mvw said...

Awesome. Thanks for the vid.

Solfest said...

Your welcome, have a nice weekend.

daytrader233 said...

You're right Solfest.

It's never different. The group that gets sucked in is different.

I can remember the 20-somethings that were flipping condos in NY a few years back said that they would never work a real job and they'd be flipping condos for the rest of their lives! Doh!