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Is that really the analogy you want to use? « In 1873, greed, speculation and overinvestment in railroads sparked a financial crisis that sank the U.S. into mo
by kgwgk 2y ago
Is that really the analogy you want to use?
« In 1873, greed, speculation and overinvestment in railroads sparked a financial crisis that sank the U.S. into more than five years of misery »
https://www.smithsonianmag.com/history/robber-baron-gamble-railroads-brought-down-bank-plunged-us-into-first-great-depression-panic-1873-180982877/ https://www.smithsonianmag.com/history/robber-baron-gamble-r...
- scotty79 2y agoAnd yet, in history, railroad is one of the few examples of bubbles that didn't ultimately popped. You can still lose money in the greed-fear cycle even if the road leads up to unimaginable heights.
- kgwgk 2y agoI guess if it « didn't ultimately popped » neither did the dotcom bubble - nor any housing bubble.
- scotty79 2y agoYes. Both dotcoms and housing still bring immense profits to investors.
- mrbungie 2y agoA bubble around a technology can pop, and yet the tech can be ultimately valuable in the long term. That does not mean it wasn't a bubble nor it didn't pop.