It's said that we are what we repeatedly do. And here we go again, as 2016-2018 is looking a lot like 2007-2009 to me. History has a delicious correlation to the past: It rarely repeats itself, but it often rhymes. What are the characteristics that "seem to rhyme" for the economy this time around? Let's run them down: * The proliferation of debt. * The broad ignorance of views. * The naysayers who get dismissed. Let's look this morning a each of these three factors in greater detail. The Proliferation of Debt "Growth based on debt is unsustainable, artificial." -- Jose Manuel Barroso Debt is the common denominator ... (full story)