28 October 2023
"There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved.”
21 October 2023
"At the end of the Roman era, the general economic crisis destroyed the small and medium sized country estates and favoured the formation of a limited number of large villae, an expression of a strong concentration of agrarian property. Their proprietors left the city to move onto their land, where... they regained all the authority which they had lost in the deterioration of the political system.”
13 October 2023
"Who didn’t make it out ?"
“Oh, that’s easy,” replied Stockdale. “The optimists.”
Everything is fine