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It's definitely different this time...

The 2008 analog lines the current trajectory up with August 2008 right after Treasury Secretary Paulson told the world reassuringly that:

"Our economy has got very strong long-term fundamentals. And you know, your policy-makers and regulators here - we're very vigilant."

And we all know what happened next...

h/t @ChrisBrady12

Could never happen again?

Yeah you're probably right...

 

Charts: Bloomberg

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