Robert Barrie: Economic Outlook
The past isn’t always a good guide to the future, but nor is it a bad one. It is possible that this recession has been so different that we can’t learn anything about it — or the recovery that follows — by looking at the past: the uncertainty is too great. It is a view I sometimes hear, but not one that I share. All recessions have their own causes and contexts, but they also have a number of similarities. So do the recoveries that follow. One of the most over-used assertions in markets is that it’s different this time. The reality is that it’s different every time, but not completely.
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