History

"The Next Housing Bust"

This is just sad. (And the piece argues that another crisis is coming soon.)

As the saying goes, those who cannot remember the past are condemned to repeat it, and the U.S. has a history of catastrophic housing blunders to remember, also including the spectacular failure and bailout at taxpayer expense of the savings and loan industry in 1989. Three dramatic failures in four decades—not an enviable track record. 


"Everything You Think You Know About the Collapse of the Soviet Union Is Wrong"

"The failure of Western experts to anticipate the Soviet Union’s collapse may in part be attributed to a sort of historical revisionism — call it anti-anti-communism — that tended to exaggerate the Soviet regime’s stability and legitimacy. Yet others who could hardly be considered soft on communism were just as puzzled by its demise."