Tulip Bulbs Bored Apes & Bubbles

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The Dutch tulip bulb market bubble, also known as tulipmania, was one of the most famous market bubbles and crashes of all time. It occurred in Holland during the early to mid-1600s, when speculation drove the value of tulip bulbs to extremes. At the market’s peak, the rarest tulip bulbs traded for as much as six times the average person’s annual salary.

Today, the story of tulipmania serves as a parable for the pitfalls that excessive greed and speculation in investing can lead to, but was the story true?

In today’s video we look at the story of Tulip Mania as told by Charles Mackay in his book Extraordinary Popular Delusions and the Madness of Crowds, and learn that Charles Mackay was maybe not as good as you might expect at spotting bubbles.

Books Referenced:
Extraordinary Popular Delusions and The Madness of Crowds by Charles Mackay:
Tulipmania by Anne Goldgar:
Boom & Bust by Quinn & Turner:

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Written by Patrick Boyle

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  1. I am surprised Patrick has never mentioned the Wildcat Banking Era in the US, before real government tender.

    The kinds of losses sustained by bank customers and outright failure of banks that on the surface at least mirrored what anyone nowadays would call a scam was shockingly similar to the percentage of scams in modern day crypto.

    In only two years after free banking legislation I believe upwards of 70% of banks outright failed in states. Certain states had upwards of 90% fail.

  2. How many times in history was it ACTUALLY different this time? Automobiles, computers, landlord parasitism, privatized energy in Britain. All things that could have been bubbles but instead they really did change society and the people who joined the bubble got rich instead of the ones who didn't.

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