History Isn’t About to Repeat Itself – So They Say Each Time
The Internet bust was almost as extraordinary as the 1929 crash: Between early 2000 and late 2002, the tech-heavy Nasdaq index fell almost 80%. You may recall the speculative real-estate lending that resulted in almost 2,000 bank failures between 1987 and 1991, and the Dow plunging 22.6% in one day in 1987.
Every few years, this story happens. Each time, we are promised that people have learnt their lessons – but fresh lessons are forgotten even before the oven cools down.
Is that we are learning the long lessons. The one lesson that no one talks about is the excess printing of US dollars under the Bretton Woods!!
The 2ndlook model for a Third currency Bloc is ready. Join in to review, participate, critique and develop the First Cut. While the need for a new global reserve currency has been evident, there is very little in the public sphere. The speed of events has clearly caught the BRICS and Third World napping – and unprepared. But, not 2ndlook – who, from the very beginning, proposed that the world should stop clinging to the Dollar-Euro skirts.