John Mauldin on the Book “This Time is Different”

This book is appearing in columns everywhere.  John Mauldin offers a condensation of the key points.  Well-researched book.  

Download 2010-1-29 John Mauldin This Time is Different

“Perhaps more than anything else, failure to recognize the precariousness and

fickleness of confidence—especially in cases in which large short-term debts need to be

rolled over continuously—is the key factor that gives rise to the this-time-is-different

syndrome. Highly indebted governments, banks, or corporations can seem to be

merrily rolling along for an extended period, when bang!—confidence collapses,

lenders disappear, and a crisis hits.

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