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2.25.2015 Financial Intelligence Report Bookmark

Social Bubbles

Mania’s and bubbles have been around for centuries. Probably the most famous one of old was the “tulip” mania of the 1600’s.  At the peak of tulip mania, in March 1637, some single tulip bulbs sold for more than 10 times the annual income of a skilled craftsman. It is generally considered the first recorded speculative bubble.  Basically what happed was that the Dutch had become quite wealthy via new trade opportunities and people had more cash than ever before. So when the rare flower bulbs first showed up, “everyone that’s anyone” had to have one to show how cool they were. There were many tales of people trading family farms and homes for a single bulb. Of course it all went terribly bad as all bubbles do, and many lost their entire life’s savings.

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