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. – James Buchan
Bulls dont read. Bears read financial history. As markets fall to bits, the bears dust off the Dutch tulip mania of 1637, the Banque Royale of 1719-20, the railway speculation of the 1840s, the great crash of 1929. – 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
Suicidal violence is not the exclusive property of the Muslim world. Suicide bombings were a tactic of nationalist struggles in 19th-century Europe and Russia, the far east during the second world war and the Vietnam war, and in modern Sri Lanka. – James Buchan
I dont want to get into the whos a hostage-taker discussion here, but what is the estate tax? Its a double tax on death. Economists will tell you that its really not a tax that soaks the rich, but its a tax on capital that deprives business investment and therefore job creation. – Paul Ryan