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History Doesn't Repeat, But it Rhyms

 I thought you would be fascinated to read these headlines from the Wall Street Journal:

“Washington Officials Will Be Looking Carefully at Whether Record Low Interest Rates will Revive Business”

“Current Speculative Sentiment is Bearish”

“Market Observers See Hopeful Signs”

“Senator Glass Considers Changes in Banking Regulation”

This last one was the tip off, Glass, of Glass Steagle fame. A thoughtful blogger has started posting daily headlines from today’s date in the year 1930 (
check out his site). Terms like “over leverage” and “green shoots” abound. Do any of these sound familiar? The famous Winston Churchill quote comes to mind “the nation that forgets its past is doomed to repeat it.”