Americans now spend more money on fast food than on higher education, personal computers, computer software, or new cars. They spend more on fast food than on movies, books, magazines, newspapers, videos, and recorded music—combined.

Tragedy,is when we always expect a sudden transformation!

We faced it and did not resist. The storm passed through us and around us. It's gone, but we remain.

modern terms, what Law was attempting could be described as reflation. The French economy had been in recession in 1716 and Law’s expansion of the money supply with banknotes clearly did provide a much-needed stimulus.52

Written By Niall Ferguson

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