Notes: The Fate of Rome: Climate, Disease, & the End of an Empire by Kyle Harper may change your mind about the reasons behind the fall of Rome. (Marginal Revolution)

Quote of the Day

"Thoughtless bearishness can be as damaging as thoughtless market cheerleading."

(Miles Johnson)

Chart of the Day

The story behind the $800 billion in drop in value for PetroChina ($PTR) is stunning.