This time it is different-honest.

…the 4 most dangerous words on wall street are “this time it’s different.”

If anyone dealing with securitized mortgages believed that because it was real estate, it would never go bad, they should have been fired long ago; after decades in which the norm has been that housing matches inflation, anyone who believed that this time it’s different deserves whatever criticisms we throw their way.

comment by howard
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The yield curve doesn’t matter anymore”—

“There’s no more business cycle.” —

“Taxcuts pay for themselves”.—

“Too big to fail”. —

“Real estate is ALWAYS a great investment.”—

“Deficits don’t matter”. —

and, my personal favorite . . . “Beijing won’t let anything happen until after the Olympics.”

comments by DOR

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(Comments re-arranged for easier reading, all words intact)