The speaker reflects on the similarities between the current market situation and the events leading up to the 1929 crash, emphasizing that the market bases its expectations on past events like the 2008 global financial crisis. The speaker highlights the prolonged effects of the 2008 crisis, with the rescue of banks, quantitative easing, and low-interest rates leading to financial asset inflation without significant growth in Western nations from 2010 to 2022.

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