"I sent my publisher a manuscript I had been working on for a year and thought I had secured myself by demanding immediate advance payment for ten thousand copies; by the time the check was remitted, it barely covered what it had cost to frank the package a week ago"
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It's not that war causes interest rates to go up. It's war causes energy shortages which causes inflation and inflation bleeds into everything. So pain at the pump turns into I need a raise for this. I need to raise prices on food. I need to raise prices on all sorts of things. Energy is of course a key input into everything.
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The really revolutionary thing about America is not Silicon Valley. It's the combination of the Protestant ethic, the work ethic, the moral framework, and the technological dynamism. You get God and Gold and Silicon all working together, and that's what makes it so powerful.
Walter Russell Mead — Invest Like the Best with Patrick O'Shaughnessy
Walter lays out the five step playbook that carried the Dutch, then the British, then America to global leadership, and why the same pattern keeps beating centralized continental powers.
Invest Like the Best with Patrick O'Shaughnessy