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This Time Is Different: Eight Centuries of Financial Folly

By Carmen M. Reinhart

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Throughout history, rich and poor countries alike have been lending, borrowing, crashing--and recovering--their way through an extraordinary range of financial crises. 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. With this breakthr

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