It's 1930 all over again

How true, how true:

While the 1920-21 depression and stock market pattern has been cited as remarkably similar, some are pointing out that whereas now credit is cheap and market valuation still relatively high, in 1920-21 opposite conditions applied.

This is from a very interesting blog which gives every day the news from the same day but from 1930. We have exactly the same financial conditions now .