While it is true that no two people’s life cycles are exactly the same and the typical life cycle has changed over the millennia, the archetype of the human life cycle—of children being raised by parents until they are independent, at which point they raise their own children and work, which they do until they get old, retire, and die—remains essentially the same. Similarly the big money/credit/capital markets cycle, which builds up too much debt and debt assets (e.g., bonds) until the debts can’t be serviced with hard money, remains essentially the same. As always, this leads to people trying
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