Huh.
For myself, I kinda think there's a shade of truth in the notion of repeating the mistakes of folks who lived a lifetime before ours. Because that's just enough time to learn little from previous experience.
So around 70-90 years or so.
Hence, the mistakes of the 1920s were repeated in the 2000s and the mistakes of the 1930s are being repeated in the 2010s.
But not precisely. Because actually, we don't completely forget.
I sure hope we won't end up with a bloody great war.
ps there was also a bank panic-depression series in the 1830s and 1840s.
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