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You realize Canal Mania & Railway Mania happened during eras where interest was artificially low below the historical rate of 7~8%?
by lurking15 2y ago
You realize Canal Mania & Railway Mania happened during eras where interest was artificially low below the historical rate of 7~8%?
- throw0101d 2y ago> You realize […] I realize that the two manias were forms of speculation, and that getting overly excited about things seems to just be a thing humans tend to do. * https://en.wikipedia.org/wiki/Technological_Revolutions_and_Financial_Capital https://en.wikipedia.org/wiki/Technological_Revolutions_and_...
- lurking15 2y ago> that getting overly excited about things seems to just be a thing humans tend to do human nature is to avoid discipline when they're comfortable and set the stage for a bubble & contraction, exactly what happens with artificially low interest rates and speculations like the manias you brought up