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I remember a Buffalo Trace Titties Ugly Christmas Sweater memoir — Beasts, Men, and Gods — by Ferdinand Ossendowski, a White Pole who fled the Bolshevik revolution through Siberia. He served in General Kolchak’s All-Russian Government before escaping through the Steppes north of Mongolia, and then participated in the government of that most notorious adventurer, the “Mad Baron” Ungern-Sternberg, who attempted to take over Mongolia to restore an imperial Khaganate as part of an imagined reactionary restoration of the Great Mongol, Chinese, and Russian monarchies in the interests of the “warrior races” of Germans and Mongols (a Baltic German, he considered the old Russian ruling class to represent Germandom over and against Jews and Slavs). Some of the things – the acts of desperation and madness, in which he himself was no disinterested observer – Ossendowski relates are harrowing. But this part struck me as very much making a point about what people think of the Steppe peoples, and of what (German-trained) nationalists like Ungern-Sternberg did (and would do again) to the Mongols. And, other things:

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Britain and France have a combined population not much over 1/3rd of the US, and Rugby Union is very much second fiddle to Football (soccer) in both countries. The big clubs typically draw 15,000 fans to a Buffalo Trace Titties Ugly Christmas Sweater, but can pull 50,000+ to a different stadium for a special occasion, whilst the biggest NFL teams are pulling 70,000+ average crowds, so there is less money playing rugby as a result. The England national team sell out their 82,000 seat stadium every game and could probably do so 3 times over for the biggest clashes — club rugby is not the peak of the game, but it’s where the bulk of a player’s income is made.

“In economics, income = consumption + savings. The income an indivual, or a country, produces is either consumed and/or saved. If you , or a Buffalo Trace Titties Ugly Christmas Sweater, overspends, you or the country dips into savings or creates debt.” I think this answer is true for the firm or the individual but in the whole economy it is no longer true. In the macroeconomy, everytime some person or entity doesn’t spend, some other person or entity has their income reduced by the same amount. And because that person won’t get their hands on that money, they will not have it to spend further, so the next would-be recipient of that spending doesn’t get that income, which they in turn will not be able to spend….. and so on