If good history is dispassionate history, it must naturally wait until the passions of the period subside. – James Buchan
In rising financial markets, the world is forever new. The bull or optimist has no eyes for past or present, but only for the future, where streams of revenue play in his imagination. – James Buchan
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. – James Buchan
Rarely in modern times has there been such a revolution in commercial sentiment as occurred in 2008, or such a display in government and business of panic and helplessness. – James Buchan