And from the same fellow, Ray Dalio:
A very educational set of references which, among other things, proves that the new demographic's faith that they are actually different is just so much BS.inevitability of his findings that "in all deleveragings, in the end
they print money."
They are the same as the failures who preceded them and will fail for the same reasons.
History really does repeat because there are always people who don't bother to learn about it or understand it. And they end up running things.