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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."


In paperback, get yours today.

Or the original academic paper, for free [1]. Anything else Rogoff and Rheinhart have collaborated on [2] is related and interesting too.

[1]: http://scholar.harvard.edu/files/rogoff/files/this_time_is_d...

[2]: http://scholar.harvard.edu/rogoff/publications

http://en.wikipedia.org/wiki/Extraordinary_Popular_Delusions... is still a horrifyingly accurate portrayal of human behavior.

Isn't that what people say about the US dollar when you mention the long history of collapsed fiat currencies?

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