Falling oil prices and collapsing exchange rates do not mean that it’s 1998 again. sign posts past and future

There’s an old adage that “economists have predicted 17 of the last 3 recessions”.

History is an outline, a guide, but there’s a reason we disclaim “past performance is no guarantee of future results”.  It should be modified to say “past history does not mean it will repeat itself here again”.

 

History is an Outline, not a Blueprint