Understanding the economic cycle, just looking at the Kondratiev wave table is enough. You might say, well, everyone knows this, is this table still useful? First, it's impossible for everyone to know. Second, even if everyone knows, they won't all believe it. Third, even if they all believe it, they won't all act on it. Fourth, even if everyone acts, they won't all persist. Have you forgotten the 80/20 rule? Human economic activities follow patterns, but the way they manifest each time is different. History has proven this many times; history only tends to repeat itself in remarkably similar ways, just presented differently.

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