“This time, it’s different.”
Maybe so. Our country hasn’t had to deal with a global pandemic such as the Coronavirus since before the Great Depression. So in that regard, I’ll give you that it is different this time, yet in many ways, it is the same. Remember the depths of the Great Recession in early 2009? We were gripped with fear. The markets had plummeted roughly 57% from their October 2007 highs, and many (especially those employed in the financial services field) wondered if the banking system would collapse before our very eyes. It only took 18 months for the S&P 500 to slide 57%. (see chart)
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