Bulls don't 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
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The message of Passover remains as powerful as ever. Freedom is won not on the battlefield but in the classroom and the home. Teach your children the history of freedom if you want them never to lose it. -
Newspapers are the second hand of history. This hand, however, is usually not only of inferior metal to the other hands, it also seldom works properly. -
Assassination has never changed the history of the world. -
Whether a woman's running for office or she's supporting her husband who's running for office and she gets criticised for wearing open-toed shoes or for the colour of her coat, there's just a lot of history that you bear if you are a woman who puts herself out in the political arena. -
In a sense, words are encyclopedias of ignorance because they freeze perceptions at one moment in history and then insist we continue to use these frozen perceptions when we should be doing better.
More quotes by James Buchan
- Any new financial order for the world must tackle the three chief challenges of our age.
- There are signs that the age of petroleum has passed its zenith. Adjusted for inflation, a barrel of crude oil now sells for three times its long-run average. The large western oil companies, which cartellised the industry for much of the 20th century, are now selling more oil than they find, and are thus in the throes of liquidation.
- 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.
- Profits in business always depend on the rate of interest: the higher the interest, the higher the rate of profit required.
- 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.