The whistling past the graveyard is hilarious.<p>We are going into a 2008-style financial crisis, with the Fed already zero bound and China heading into a deflationary collapse.  The banks, at least, have better balance sheets on paper this time around, but the carnage is going to be breathtaking.<p>How many cycles of &quot;things are amazing -&gt; a new, permanent plateau -&gt; I see no evidence of a bubble -&gt; soft landing for sure -&gt; no one could have seen this coming&quot; do we have to go through, folks?