Because it's called a credit "cycle" for a reason...
Of course, it's different this time.. except as Andy Redleaf noted... [5]
In 2007, "The driver... will be a sudden, profound and pervasive loss of faith in the alchemy of structured finance as currently practiced."
In 2015, will it be a "sudden, profound and pervasive loss of faith in the alchemy of monetary policy as currently practiced."
Charts: Bloomberg

