Losing your capital is like losing your trousers. It is a real humiliation, and one not to be soon repeated.
James BuchanViewed from a distance, or through the eye of the All-Knowing CEO of the Universe, the crash of 2008 followed the usual pattern. A long-lived boom driven by cheap credit, going back as far as 1982 (though subject to interruptions in the mid-1980s and 1990s, and in 2001), came to grief because of a rise in the cost of borrowing money.
James BuchanMy belief, for what it is worth, is that city dwellers cannot understand the world. Insulated from reality by complex and expert systems of provision and police, baffled by fashion and spectacle, city dwellers can distinguish neither the sources of their existence nor the consequences.
James BuchanWere there peace and justice in the Middle East, the Arabs would no more need their tinhorn dictators than they would their corpulent princes.
James Buchan