<Never have we had a negative yield curve and not had a recession four quarters later.>I remember seeing the inverted yield curve a few years ago and reading, "This time it's different." As it turned out, it wasn't different. 8(Before 2000, the only time I had recalled reading "This time it's different" was in regards to equities: "Old measurements don't matter. We need new ways of evaluating stock." I read it about the Electronics bubble (in the '60s?), the Aeorspace Bubble (in the early '70s?), for PCs ('80s), for Internet companies (in 1999). I think the only thing that changes is the generation that gets fleeced.
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