In Foreign Policy magazine (hat-tip Barry Rithholz), Edward Luttwak draws comparisons between America, Rome and Byzantium, and says that Byzantium should really be the new model for the U.S. After all, Byzantium outlasted Rome by eight centuries.
Here is one example of his advice …
VI. Subversion is the cheapest path to victory. So cheap, in fact, as compared with the costs and risks of battle, that it must always be attempted, even with the most seemingly irreconcilable enemies. Remember: Even religious fanatics can be bribed, as the Byzantines were some of the first to discover, because zealots can be quite creative in inventing religious justifications for betraying their own cause (”since the ultimate victory of Islam is inevitable anyway …”).
Read the rest HERE.
Boy, this puts me in the mood for They Might Be Giants and their song “Istanbul”
OTHER NEWS YOU CAN USE
Why The Financial Crisis Isn’t Going Away Positive growth is an illusion created by government spending. In fact, the economy is still flat on its back. Consumer spending and credit are in sharp decline. Unemployment is steadily rising (although at a slower pace) and wages are flatlining with a chance of falling for the first time in 30 years. Deflationary pressures are building. The talk of a “jobless recovery” is intentionally misleading. Jobs ARE recovery; therefore a jobless recovery merely points to asset-inflation brought on by erratic monetary policy. Surging stocks shouldn’t be confused with a real recovery.
Another Central Bank Bites the (Gold) Dust Mauritius, a small nation comprising a collection of islands in the Indian Ocean, is the latest of sovereign central banks to purchase gold bullion from the IMF bank, which is scheduled to sell 403.3 tons. By doing so, Mauritius has doubled its gold holdings to 3.9 tons.
Calls Rise for New Global Currency International Monetary Fund director Dominique Strauss-Kahn says the days of one country’s currency as the global benchmark are numbered. The U.S. dollar remains the currency standard, but globalization demands a new global currency that provides representation for the growing importance of a variety of major economies, Mr. Strauss-Kahn said during a trip to China.
Mo-o-o-om! Jesse is depressing me again! Read: Have Home Prices Only Fallen 1/4 of the Way to Trend?
By the way, this is a short film of me on top of that very high mountain in Chile …
Have a good Wednesday
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