I’m quite fond of analogies. My brain is wired for them as well as metaphors, which is perhaps one of the reasons I enjoy writing so much. As for analogs in the financial markets, I’ve got an entire section on Slope dedicated to them, and although most analogs don’t tend to work out as hoped, they’re still a useful guide in the spirit of history rhyming.

Now, it’s common knowledge that Zerohedge has become a Goldman Sacks shill and a permabull, with their loudest and most permabullish writer being Market Ear. They have been pushing the 1997 analog lately, and they mentioned it again today.