Jim Reid, Nick Burns
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Economic history has been very helpful in trying to be one step ahead of the developed market’s bubbles over the last decade or so. Deutsche Bank considers that economics and finance are now journeying steadily into the unknown. While past economic history has provided an understanding the state of the world, many variables are now outside any previous historical observations. A central theme is how many economic and financial variables are at levels unique to this cycle, even if the analysis is extended back centuries. This must surely reduce confidence levels in the predicting the future to fairly low levels.