The Fall of the Ottoman Empire

The history of government debt By the beginning of the 19th century, the Ottoman Empire had become a has-been power whose glory days as the world's superpower were well behind them.



They had been supplanted by the French, the British, and the Russian empires in all matters of economic, military, and diplomatic strength. Much of this was due to the Ottoman Empire's massive debt burden. 

In 1868, the Ottoman government spent 17% of its entire tax revenue just to pay interest on the debt. 



An Eye For An Eye

Hammurabi’s Code Nearly four thousand years ago, King Hammurabi of Babylon laid out his eponymous "Hammurabi's Code", a series of laws that is still famous to this day.



Most people know Hammurabi's Code as "an eye for an eye, a tooth for a tooth". Yet what few realize is that the code was actually one of the original attempts at government wage and price controls. 



A Lesson in Economic History

a fictional account of historical facts As you may know if have been reading my missives, is that I am a student of history. One of the great all-time books is a novel by James Clavell, Tai-pan. It’s the second book in his series of six novels known as The Asian Saga—a fictional account of historical facts.

Tai-Pan tells the story of Western, and especially British, traders at the time of the Opium Wars with China. The story starts right after the British have defeated the Chinese Empire in the First Opium War and claimed a barren island in the Pearl River delta as a British possession—Hong Kong.

Freedom is Never Free!

The 4th of July Have you ever wondered what happened to the 56 Men who signed the Declaration of Independence?
  • Five signers were captured by the British as traitors, And tortured before they died.
  • Twelve had their homes ransacked and burned.
  • Two lost their sons serving in the Revolutionary Army; Another had two sons captured.
  • Nine of the 56 fought and died from wounds or Hardships of the Revolutionary War.

They signed and they pledged their lives, their Fortunes, and their sacred honor.

1775

1775 American History As we celebrate the birthday of our exceptional nation, I wanted to look back just one more year than Americans usually do today – back to 1775.

That is because the Revolutionary War began in 1775, not 1776. Before we were ready to take the historic and dramatic step of birthing our own new nation in liberty, there were lenghty attempts to accommodate the relationship between the American colonists and the British Parliament and King.

My Name is America

Once in a while, a song comes along that just makes you feel good Every once in a while, a song comes along that just makes you feel good.



We though we would share one with you.......[GO]

The 'Fix' is Worse Than The Problem

Ruining the money system In the early 4th century AD, the Roman Empire was undergoing a tremendous turmoil, including plague, barbarian invasions, deep recession, civil wars, coups, etc. They only had themselves to blame. Most of this had been brought on by Rome's utterly dismal economic condition.

The government simply did not have enough money to sustain its operations, let alone pay for all the generous welfare programs needed to placate the population. (Sound familiar?)

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