Sunday, January 31, 2010

This time it is different

A long article at focuses on a quote from Reinhart and Rogoff's book:
"Our immersion in the details of crises that have arisen over the past eight centuries and in data on them has led us to conclude that the most commonly repeated and most expensive investment advice ever given in the boom just before a financial crisis stems from the perception that 'this time is different.'
The next place to be watching is Greece.

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