Why did Greece fall? Why did each of the three kingdoms of Egypt collapse? Why did the Sassanid Empire fall? Why did so many countries get dragged into World War I after Austria declared war on Serbia? Why was the leadership of the Weimar Republic so weak? Why did Justinian's reconquest...
Why did the Great Depression of the 1930's seem so much worse than any occurring either before or since? What was the most important factor that caused the Great Depression? What were the effects of the Great Depression in Tennessee ? Why was the dependence of the American economy on a s...
When the kings had been everywhere overthrown, and the aristocracy had become supreme, the people did not content themselves with regretting the monarchy; they aspired to restore it under a new form. In Greece, during the sixth century, they succeeded generally in procuring leaders; not wishing...
The Germans seem to be the only people on earth who fully understand this and recognize that money demand could collapse if markets realize and begin to internalize the difference. This is surely not thetype of inflationJapan wants. Or maybe it does? We don’t think Japan is there just yet...
You think, well, why did you need to do that? Because unlike the Great Depression, there weren’t multiple bank failures. There weren’t mass bankruptcies. There wasn’t mass unemployment. There wasn’t a sustained collapse in asset prices. None of the things you ...
Across Europe, all the old social-democratic parties are in collapse. There’s PASOK in Greece, which gave its name to the trend. In France, the Socialists are polling in the single digits and trending down. In Germany, the SDP is being eclipsed by the Greens. In Italy, the Democrats ...
This private debt bubble is what caused Spain’s apparent prosperity in the lead-up to the GFC, and its collapse is what has caused Spain’s Second Great Depression since. As I explain in my short, non-technical book, Can we avoid another financial crisis?, total demand in an economy is...
They seem to imitate the art of ancient Greece. Both arts are naturalistic. The Latins portray Christ, the Mother of God, the saints, even the angels, as if they were in a state of nature. This “naturalism” stems from the medieval idea that “grace perfects nature.” The person or...
Did they behave appropriately? Why or why not? Subprime Market: Subprime market is a term used in finance and investments. It refers to people with questionable or less than perfect credit. Those with perfect credit are referred to as a "pri...
The world’s open seas make up about 70% of the earth’s surface and are important, both as a means of transport and as a resource.15Maritime law exists to protect this asset and the people who use it. Without it, there would likely be anarchy and collapse of the global economy....