It is healthy to know these parallels, and yet it is also healthy to know the differences. Factors which are favorable are often forgotten in the more intense excitement for negative news. In the market, your most precious asset, and what makes you unique, is your own decision making strategy. You try to remain unemotional, as best you can, about the world around you. When you see extremes being offered, you back off.
Pragmatism is essential today.
Just as economic policy management is an art form, so is a thoughtful stock market strategy. We can know all the facts worth knowing and still not do a good investing job. Just as history is full of unfolding meanings, new interpretations which offer plans for future actions, so does the mind of man seek sure answers in the marketplace. There is a role for collective stock market memories which often are tripped up by the law of unintended consequences. Often, what we least think of happens.