"Each time, the experts have chimed, 'this time is different' - claiming that the old rules of valuation no longer apply and that the new situation bears little similarity to past disasters.
-- FT synopsis of This Time is Different by Carmen Reinhart/Kenneth Rogoff (2009)
I’ve seen people on the bad place repeatedly say how great it would have been if Romney had won in 2012 and, while Hoover was more active than either his fans or detractors admit, a laissez faire response in 2013 would have been a disaster.
Apparently, ppl are referencing this article on Blackrock's 2025 outlook where they use the term "business cycle". Blackrock should just be thanking Powell & the FOMC for the soft landing & hope future central bankers do likewise in future business cycles
Comments
-- FT synopsis of This Time is Different by Carmen Reinhart/Kenneth Rogoff (2009)
https://www.blackrock.com/us/individual/insights/blackrock-investment-institute/outlook