Why This Recession Is No Different From All The Others (VIDEO)
Check out this video, produced by Dent Asset Management, that posits this recession is no different from the many others America has experienced over the decades.
While the idea that this down cycle is nothing unique in the history of the American economy, this video gives a nice summary of that view, with montages of magazine covers and newspaper articles from the Great Depression through to today, as well as speeches from as varied speakers as Rodney King to Ronald Reagan.
Perhaps our favorite is this quote, defining a 'bear market' as "a period of time during which people who believe that 'this time is different' sell their stocks at panic prices to people who understand that 'this time is never different.'"
While we are featuring the shorter (5 minute) version, there is a longer video available on YouTube.