Investing Economic Historicity by John M. Grund History doesn't repeat itself, but sometimes it rhymes, Mark Twain is reputed to have said.
History is a relentless master.
It has no present, only the past rushing into the future. To try to hold fast is to be swept aside. John Fitzgerald Kennedy Wall Street appears to believe not only that history repeats and rhymes, but also just about any other stray hypothesis about the past. This despite the fact that the proponents of each think the others are crazy. I saw a new, old word in my newspaper the other day tyromancy.