I believe that history does repeat itself. Generation after generation, the lessons learned from the former generations get more diluted. This goes on until finally history is repeated.
If you read about the crash of the stock market in 1929 and the following depression, you will find there are eerie similarities to today's economic crash.
During that time, the so-called easy money was in the stock market, unsupported by real economic growth. The financial system was unregulated by Herbert Hoover and two Republican administrations before him that supported unfettered capitalism. The supposed economic boom was built of straw, kind of like one of the little pigs' houses, and it tumbled down. It is that deregulation that is supported by Republicans that eventually catches up and a real big correction has to happen.
So our country and world are mired in another recession. History did repeat itself and regulations will be put into place, again, to help us recover from this one. We'll get out of it and live happily ever -- not after, but for another couple decades -- when indeed unfettered capitalism will again take us down a notch. Some of us, probably not me, will be able to tell them this happened in 2008 and we didn't learn then, either.