“This time it’s different” are often quoted words following a financial calamity, such as the world has been going through for more than one year. Actually, it’s not different this time, it just feels that way. For a healthy dose of 1) why we should not feel anything is different, 2) why in fact, the financial environment may be worse than the past, 3) why we are bound to repeat past mistakes, and 4) a preview of what today’s mistakes could lead to in the near future, read this article that ran in the New York Times on Septemeber 14.  To read the article that George Vitta, President of Asset Strategies Portfolio Services, is referring to please cut and paste the following link to your browser.
www.nytimes.com/2009/09/14/business/economy/14bubble.html?scp=1&sq=same

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