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In the year 1218 on the great plains of central Eurasia, a Mongolian trade caravan was on a long expedition across the Silk Road when it reached the city of Otrar in the Khwarazmian Empire (modern day Kazakhstan). The governor of the local province– a career politician named Inalchuq– was
Almost one year ago to the day– on February 24, 2023– Silicon Valley Bank released its 2022 annual report. And senior executives must have been pretty nervous since the report showed that the bank was nearly insolvent. The bank had acquired a massive portfolio of more than $100 billion of
Early in the spring of 1956, only weeks after Elvis Presley released his debut studio album, and actress Norma Jean Mortenson had her name legally changed to Marilyn Monroe, a budding 25-year-old businessman from the American Midwest fatefully registered his first-ever company. His name, of course, was Warren Buffett. And
It’s not exactly as if the world is swimming in a sea of tranquility these days. War in Gaza has been raging for months. War in Ukraine has been raging for years. And Russia has even threatened using nuclear weapons. Terrorist groups brazenly attack American shipping vessels. Iran keeps stirring
On January 16, 1917– at the peak of World War I, the imperial German Foreign Minister, Arthur Zimmerman, sent an encoded telegram destined for the President of Mexico. Zimmerman wanted to form an alliance with Mexico, in the hopes that the United States would be too distracted with potential conflict
The ink was barely dry on the Treaty of Paris in the year 1763 when the financial panic set in. Government ministers across Europe began taking stock of their disastrous finances… and the picture was gruesome. The world had been at war with itself for nearly a decade. And though
On September 18, 1928, at the peak of the ‘Roaring 20s’, an American investor by the name of Evelyn Gregory was sitting on a fat capital gain totaling over $133,000– worth more than $12 million in today’s money. The top federal tax rate back then was 25%… but Evelyn wasn’t
I imagine life can often feel pretty difficult for today’s high school students. On top of dealing with classic teenage drama like homework, hormones, pimples, parents, driving, dating, university selection, and more, students these days have to contend with a host of new challenges. They suffered long periods of brutal
Last week’s headlines were understandably dominated the special counsel’s report which chronicled President Biden’s “diminished faculties and faulty memory”. So, it’s easy to understand why no one even noticed the Congressional Budget Office’s $20 trillion bombshell announcement that was released within hours of the special counsel report. Granted, an investigation
“Can Selecting the Most Qualified Candidate Be Unfair?” asked researchers in a recent study published by the American Psychological Association. And the short answer, according to this new ‘science’, is a resounding YES: hiring the most qualified people based purely on their merit and talent is unfair. Naturally they don’t
Thousands of years ago during the late Bronze Age– most likely between 1100 and 1200 BC, two ancient civilizations were exhausted after nearly a decade of warfare. On one side was the ancient Achaean peoples led by the Mycenaean king Agamemnon. On the other was a legendary Hittite city that
It’s interesting to see how so many mainstream voices are starting to express concern about the gargantuan size of the US national debt. For most of the past decade, even as the debt spiraled out of control and passed $20 trillion, $25 trillion, $30 trillion, etc., hardly anyone in the
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