Life Without Oil, In Fact,

Up Until The Depression, Recession Had A Moral Character: It Was Supposed To Purge The Body Economic Of The Greed And Excess That Attends A Business Expansion.

Cause And Effect, The Riddle Of All History, Is A Particular Devil In Financial History; And Never More So Than Today, Where Entire Classes Of Security Are Collapsing Not On Public Exchanges And Stock-tickers But Because There Are No Markets To Establish Prices This Side Of Nothing.

Almost All Novels Are Improved By Cutting From The Top. On Their First Pages, Authors Parade Those Favourite Effects Which Disgust The Impartial Reader.

Profits In Business Always Depend On The Rate Of Interest: The Higher The Interest, The Higher The Rate Of Profit Required.

Ever Since The Destruction Of Baghdad By The Mongols In 1258, The Muslim World Has Been In Slow Decline Relative To The West. With Napoleon's Invasion Of Egypt And The Creeping British Annexation Of Muslim India, That Decline Took On A Malign Aspect.