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Here's an explainer, quoting Patrick: "Apologies. I accidentally deleted the video when cleaning out some old unlisted videos. When I realized what I had done I reuploaded it."
Patrick, I know it's a small thing, but please put in the description if a video is a reupload and what was changed (if anything). Really helps avoid confusion.
I was pretty sure I had seen it before as well and just figured it's because he mentions it all the time. Though I think you can tell if it's an old video because you can see he still has life in his eyes because he hasn't had to deal with the crypto/NFT collapses yet.
Also: if the investment opportunity is in some form of new innovative technology that promises to alter the status quo in major ways and generate huge profits, make sure you understand how exactly it's supposed to make money. If it sounds needlessly convoluted, it is
@@Firepowered Despite the shortcomings, Occam's Razor proves to be quite reliable! Of course it still requires that you study and read into the matter at hand (Occam's Razor is about research, not assumptions), but the end results generally are, indeed, simplistic.
I left my NFT lying around on a USB drive. One of my employees happened to need a thumb drive and grabbed mine. He then posted the NFT on Twitter and people started screenshotting it. I am ruined, but the employee is fortunately serving a 20 year prison sentence.
Patrick, is it too late to plant tulips or should I wait for the dip when winter is coming? Do you think digital pictures of tulips might fare better than dirty, tangible bulbs? Asking for a friend.
@@superresistant0according to poison control eating less than 5 tulip bulbs in a day only causes mild intestinal problems "if that". Eating one, properly cooked, is likely fine and likely did nothing. Even eating 6 at once is only recorded to cause a few days of vomiting and weakness and no lasting effects. So like... Yeah but it's so mildly poisonous that cooking one properly seems to have very few noticeable effects. They apparently have a "milky, slightly onion like taste"
I remember reading that in Victorian times, students at Eton? Sandringham? Not sure, but they dug up the tulip bulbs to fill their bellies because the food was so limited. That, and ate candles.
I love this man. If I had the kind of money he is capable of overseeing, he would be my go-to person. The depth of understanding he shares in a manner a novice can appreciate makes him #1 in the RUclips world. Anyone who has done some digging and landed here, consider yourself to have struck gold.
Several questions If I can (open to anyone): 1.) The neatherlands to this day remains the largest exporter of flowers in the world (their tulip market still remains substantial). 2.) Calvanism and protestantism in general had divergent views of usury mandates which lead to converts, but also towards a bit of an economic renaissance for those cultures and peoples who adopted it, no? In essence, Catholicism to this day venerates poverty and considers the accumulation of wealth as inherently evil. The economic history of europe is influenced by the treatment of Usury laws and norms (the relaxation of which coupled with the mass redistribution of wealth after one of the great plagues eventually lead to the renaissance for instance). Meanwhile, the entire history of Spain consolidating wealth was in a cycle of allowing relaxed usury laws for those who did not practice catholicism until these groups gained an economic foothold, and then they would persecute and expell those people and amass their economic holdings monopolizing on the investments of those peoples. Calvanism itself, as a protestant variation's main draw was its' justification that "work is good" and far from god loving you more when you're impoverished: calvanists believed that being sucessful and rich was proof that god favored you. It was the theological beginnings of "greed is good". I suppose what I'm setting up is: how did the book approach the criticisms of the tulip bubble as propoghanda?
he looks to have no control over the part of the eye used in squinting and I'm not joking. Keeping your eyes jammed open gives big bags under the eyes since thats where the squinting muscle is
Say what you will about tulips, but the eloquent WhatsApp advisor I met in the comments has got me 20 large into the next wave of Beanie Babies and I’m confident of my future returns. 😊
Because Diamonds last forever, the diamond "craze" is still here to this day. There is a still a difference in price between synthetic and real diamonds. Since things like diamond, art, etc. exists. People will tend to create the next best thing such as tulips.
In the Barney Miller tv show, one Hassidic diamond dealer character said, " Suppose people stop wanting diamonds? PFFT! Buy land, they're not making more."
I guess Mackay had reason to believe that the railway bubble wasn't a bubble because something tangiable was built and the whole thing wasn't just about something superfluous as tulips. In that sense he probably was even mislead by his own ideas about Tulipmania and what he thought about he knew about bubbles. Unless he was just misleading people for his own personal gain of course.
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What I enjoy so much about your videos is that I can learn a great deal and have a good chuckle at the same time. Love the ironic 'subliminal(s)' that you strategically place throughout your narratives!
You're the best Patrick. Hopefully soon you'll be covering stories from Africa as well soon. It will be great to hear about how some financial institutions in Africa collapsed from an impartial point of view... 💯
It's easy to see bubbles from the _outside._ For everyone _inside_ the bubble, their own interests are bolstered by their blindness because the increasing wealth _depends on the blindness itself._
iTulip - A movie about turtlenecks, charisma, buzzword salads, and the brief life of 'tech' tulip crazes which hose more average Joe's than TBTF banks taking part in a collateralized debt circle-jerk. Please make this movie/doco Patrick. I'd love to see you make some polished documentaries with your patented deadpan finance humor.
I was so confused. I knew I saw this, but I would have been sleeping since this came out. Then I remembered reuploads happen. Such a great video. I watched it twice. This video helped me understand why Maverick of Walstreet calls Bitcoin Tulips.
Why does Patrick in the thumbnail look like either A) a serial killer about to kill me. B) a victim trying to convince me, the serial killer, to not kill him?
I knew a lot of the Tulip Mania story was...exaggerated, let's say, but the reason it keeps getting brought up over the centuries is that the frantic herd mentality it embodies is real. And keeps happening. On an unrelated note, I have a huge stockpile of rare POG coins and beanie-babies. Is anyone interested?
Atmospheric railways don't travel in a tube, except for a demonstration line in New York, the Beech Pneumatic Transit system in 1869. They have a tube between the tracks along which a piston runs, connected to the train above through a sealed slot. In the early days of steam engines they weren't a bad idea because the large stationary engines used could be more efficient and more reliable, but locomotive designed soon overtook them. The Dalkey Railway in Ireland ran for ten years and was, I think, the most successful.
The old Subway Sandwich shops were all decorated with images of Beeches car. In Ghost Busters the Slime Monster is seen pouring itself into Beeches brick tunnel.
I don't think Mackay ever proclaimed himself as an "expert in manias and bubbles". The economic bubbles section of his voluminous book was a very small and relatively uninteresting part of the overall brilliant work "Extraordinary Popular Delusions And The Madness Of Crowds". BTW, Look at the Tulip mania chart and tell me this was irrelevant.
@@PBoyle Thanks for all the hard work. It would help avoid some confusion if you added that to the description though this does give us a good excuse to watch the video again.
At the time of the writing of the book, many people were amateur historians who published. One can think of Teddy Roosevelt for example who wrote a popular book on the war of 1812. It ended up distorting many serious facts even in the academic crowd.
It would seem that HS2 is the UK’s 21st century version of Railway Mania, only this time the mug punter is the government and the investors aren’t shareholders but the tax payer.
Interesting. For some reason this video does not appear in my subscription feed. Are reuploads somehow recognized? While at the same time it gets promoted in my home feed. Seems quite strange...
Interesting video Patrick, thanks....am I the only one that notices the parallels between Mackay and a certain someone at this very moment? I wont mention their name, other than the clue... they share the same last initial.
It's extremely funny of how all of the footage of cities at the start is not of Dutch cities :) but then again ... the whole Tulip mania is mainly bogus, so it's kinda appropriate :)
Good argument for stronger regulation, as long as Capitalism is the underlying System. The definition of the modern use "Middle Class" term came in 1913.
This reminds me of how many Gold Bugs seem to forget that purchased gold is a loss until sold. They seem to forget that the worth of your gold is dependent on getting paid more than what you paid. They seem to forget that the price of gold is primarily dependent on the fiat value of greed. You have to find somebody more driven than yourself. Bonus factoid: there are more shares in gold that there is physical gold. Gold bubbles do occur.
13:33 prices can't fall 10 fold. The maximum is 1 fold, ie, 100% because the fall is measured from the top and a 1 fold / 100% fall will bring the price to zero.
Not true, we're talking magnitudes. If something increases tenfold it's 10x (10 -> 100), if something decreases tenfold it's one-tenth (10 -> 1), and he might not mean it in the literal sense. Tenfold usually just describes a dramatic increase or decrease in either direction.
Perhaps the previous civilisation also had the Internet and someone like Patrick was also sharing with then them what could be good to do, but then they also also get wiped out.
The railway boom is a good example why expensive infrastructure projects shouldn't be financed by private investors. Mackay predicted right, that railway systems will change the economy of the country completly, but he was totally wrong with the timeline. It's very expensive to built so much and big new infrastructure, and it takes a lot of time, it needs even more time to built all the factorys, which can use the increase in freight volume. But you can't expect an immediate return of your investments in railroads, because you can only charge your custumomers with prizes they can afford, not with prizes you need to make an instant profit. The Channel Tunnel is another example, although it is a big succeess for the economy of the countries on both sides, it wasn't a success for the private share holders which fund the tunnel, they nearly lost all their money.
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Patrick, it is March already. The offer expired nearly two weeks ago.
@@canninho this is a reuploaded video, thats why xD
Here's an explainer, quoting Patrick:
"Apologies. I accidentally deleted the video when cleaning out some old unlisted videos. When I realized what I had done I reuploaded it."
I feel like I've seen this before... is this a repost or a like an addendum or?
Buy my TulipCoin!!!
Patrick, I know it's a small thing, but please put in the description if a video is a reupload and what was changed (if anything). Really helps avoid confusion.
Agreed, I was already a bit confused that it sounded a bit too familiar
It's just a reminder that Patrick still thinks crypto can rot
I thought the weed was playing games with me.
I was pretty sure I had seen it before as well and just figured it's because he mentions it all the time. Though I think you can tell if it's an old video because you can see he still has life in his eyes because he hasn't had to deal with the crypto/NFT collapses yet.
Indeed.
So, what we can learn from this story is:
- the more things change, the more they stay the same.
- do not trust excited influencers.
Also: if the investment opportunity is in some form of new innovative technology that promises to alter the status quo in major ways and generate huge profits, make sure you understand how exactly it's supposed to make money. If it sounds needlessly convoluted, it is
@@Firepowered Despite the shortcomings, Occam's Razor proves to be quite reliable! Of course it still requires that you study and read into the matter at hand (Occam's Razor is about research, not assumptions), but the end results generally are, indeed, simplistic.
@@NothingXemnas PREACHH!!
I left my NFT lying around on a USB drive. One of my employees happened to need a thumb drive and grabbed mine. He then posted the NFT on Twitter and people started screenshotting it. I am ruined, but the employee is fortunately serving a 20 year prison sentence.
Patrick, is it too late to plant tulips or should I wait for the dip when winter is coming?
Do you think digital pictures of tulips might fare better than dirty, tangible bulbs? Asking for a friend.
Stop thinking about tulips. I just heard CNBC's Jim Cramer assure us that daffodils with warrants (ticker code DAF.T) are the Next Big Thing!
It's too late, flavor of the month is now Ornamental Gourd Futures
Pictures of tulips are called NFTs nowadays.
@@Keine_Macht_fuer_Niemand That was the general thrust, yes.
@@Keine_Macht_fuer_Niemand Non Fungible Tulips?
I appreciated that Patrick opened by illustrating that tulip bulbs at least have some utility.
Ive actually done that…. Dug up a tulip bulb in me garden , sautéed it up and…. Ate the most peculiar tasting “onion” ever
No reply, hope Tiffany didn't eat more :(
@@superresistant0according to poison control eating less than 5 tulip bulbs in a day only causes mild intestinal problems "if that".
Eating one, properly cooked, is likely fine and likely did nothing. Even eating 6 at once is only recorded to cause a few days of vomiting and weakness and no lasting effects. So like... Yeah but it's so mildly poisonous that cooking one properly seems to have very few noticeable effects.
They apparently have a "milky, slightly onion like taste"
They were eaten in WO2 in the Netherlands, in the hunger winter. According to my mom, they are disgusting.
I remember reading that in Victorian times, students at Eton? Sandringham? Not sure, but they dug up the tulip bulbs to fill their bellies because the food was so limited. That, and ate candles.
You make me realise, I planted tulips bellow my apricot tree, and recently though- how did an onion get planted there. Glad I didn’t eat it.
The sponsor sounds horrible. The last thing we need is more people getting the bare facts from books without reading them. Just read the damn book!
No one loves talking about tulips more than this guy
I'll have to re-listen. But I don't recall the Federal Reserve being mentioned at all.
I am wondering if, without ever mentioning the name, this might be a warning about the prospects for Elon Tesla? 😜
@@noyopacific I doubt that. Not a Tesla or Elon bro, but I think he drives more towards NFTs and similar investment schemas.
It's too bad the entire story is made up... lol
Except Calvinists.
1:33 "Tulipmania is a great story." So great we posted it twice!
shit, I thought I had traveled through time, but it's only a reload
Apologies. I accidentally deleted the video when cleaning out some old unlisted videos. When I realized what I had done I reuploaded it.
@@PBoyle An oops that will touch 497k people, quite an achievement.
@Patrick Boyle "Apologies," why? You gave us a laugh. Now don't apologize for apologizing!
@@PBoyle now we want to see those unlisted videos 🧐
I love this man. If I had the kind of money he is capable of overseeing, he would be my go-to person. The depth of understanding he shares in a manner a novice can appreciate makes him #1 in the RUclips world. Anyone who has done some digging and landed here, consider yourself to have struck gold.
Very hard to disagree with a word of that.
I was one of the first subscribers and he is my favorite youtuber
Several questions If I can (open to anyone):
1.) The neatherlands to this day remains the largest exporter of flowers in the world (their tulip market still remains substantial).
2.) Calvanism and protestantism in general had divergent views of usury mandates which lead to converts, but also towards a bit of an economic renaissance for those cultures and peoples who adopted it, no? In essence, Catholicism to this day venerates poverty and considers the accumulation of wealth as inherently evil. The economic history of europe is influenced by the treatment of Usury laws and norms (the relaxation of which coupled with the mass redistribution of wealth after one of the great plagues eventually lead to the renaissance for instance). Meanwhile, the entire history of Spain consolidating wealth was in a cycle of allowing relaxed usury laws for those who did not practice catholicism until these groups gained an economic foothold, and then they would persecute and expell those people and amass their economic holdings monopolizing on the investments of those peoples. Calvanism itself, as a protestant variation's main draw was its' justification that "work is good" and far from god loving you more when you're impoverished: calvanists believed that being sucessful and rich was proof that god favored you. It was the theological beginnings of "greed is good". I suppose what I'm setting up is: how did the book approach the criticisms of the tulip bubble as propoghanda?
Absolutely correct. Protestantism single handedly built the American west sphere of economies and influence
Thanks!
Thank You!
This is one of the most interesting finance videos i've ever watched. Thanks, Patrick.
Patrick was so focused on his presentation he forgot to blink for 26 minutes.
he looks to have no control over the part of the eye used in squinting and I'm not joking. Keeping your eyes jammed open gives big bags under the eyes since thats where the squinting muscle is
Am I getting flashbacks? Or did another RUclipsr talk about this somewhat recently lol
Another? I think it was Patrick before. I assume corrections have ben made or YT took down the original.
@@archstanton3931 yes
He said he accidentally deleted the video
Extra history did a series as well
Say what you will about tulips, but the eloquent WhatsApp advisor I met in the comments has got me 20 large into the next wave of Beanie Babies and I’m confident of my future returns. 😊
Indeed, he keeps telling me not to withdraw. I already have 9 digits in my portfolio!
I got a 999% return in one day!
@@AVeryHumanReviewerAndNotABotdo decimal places count as digits 😂
Because Diamonds last forever, the diamond "craze" is still here to this day. There is a still a difference in price between synthetic and real diamonds. Since things like diamond, art, etc. exists. People will tend to create the next best thing such as tulips.
In the Barney Miller tv show, one Hassidic diamond dealer character said, " Suppose people stop wanting diamonds? PFFT! Buy land, they're not making more."
Like your videos and the way you present stuff.
Your humor is just amazing.
A cutting edge technology that is not just a technology but a monumental revolution? Where did I heard that...
Very interesting perspective on bubbles and fact-checking of the tulipmania story, thanks
I guess Mackay had reason to believe that the railway bubble wasn't a bubble because something tangiable was built and the whole thing wasn't just about something superfluous as tulips. In that sense he probably was even mislead by his own ideas about Tulipmania and what he thought about he knew about bubbles.
Unless he was just misleading people for his own personal gain of course.
Patrick Boyle videos two days in a row ! We are truly blessed.
@@atomatolol yup :)
Tulipmania is a repeat
It's a year old.
Very interesting. Glad you are back. Hope to hear more from you.
As a resident of the Netherlands i feel compelled to point out that herrings are not served ccoked.
I appreciate the effort you put into these videos. Thank you for investing your time in this!
Excellent coverage, and quite timely that just because you know of a mental trick doesn't make you immune.
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Hicks, Liam, Logan Vrankovic, William Heaton, Paul McCourt, Daniel, Aaryan Koura, Steven, Christopher Boersma, Ulf Lundblad, Dorothy Watson, Greg Blake, Simon Bone, Livermores Quant, The Collier Report, Scott Gardner, The Man Koala, Brian McCullough, Daniel S. Smith, Finance Student, Julie, Mohammad Rehman, James Wallace, Daniel Poellmann, Edosa Odigie, Dixon Yuen, Marek Novák, Stamatis Drepaniotis Michael Smith, Ahmed Hamadto, Chris Davey, Mike Farmwald, Michael A. Mayo, Lachezar Georgiev, Kamet Batra, Bradley Johnson, Sagar Gudi, Michael Chessar, Kate ATL, Tong Cheung, Lady Dje, James Barnes, Chris Hall, Kurt Johnston, ICBM Catcher Juan Valdes, Linn Engström, Veltsh, Konrad P-kala, Pastacat, Adam Vorting, Matthew McQuade, Christopher Lesner, freebird, Kenneth WedMore Lund, erfective, Jason Young, Jonathan Kopnick, Peter Hendrickson, steel, Bastien, Tom Willett, Chris Whitehead, Anil Jason, JOJO, AS7, Greg Thatcher, Ezekiel Templin, MrLuigi1138, Leszek Frankowski, Nam Nguyen, Karim THIBAULT, C, David R. Ingemi, Robert Wave, Dmitri Alexeev, Aaron Rose, Ethan Hernandez, Claude Chevroulet, Stephan Marosvary, Louis Julien, Jan Lukas Kiermeyer, Gearoid O Connor, Fredrick Saupe, Subliminal Transformation, Alex McMahon, Adi, Ben, Kurt Mueller, Janusz Wieczorek, Federico Viscomi, Corgi, Mahdi, Burgerinn, Quinn Cone, QiKaiQian, Stephen, Joshua Rosenthal, Frank Yashar, Michael Smith, Emilian Marius Tudor, Julian Aßmann, Cormac, Ian Shearer, Michael Kopřiva, Tinni, Goran Milivojevic, Joe Del Vicario, Alexandre Mah, ultima9, Norman A. 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Whoa.
What I enjoy so much about your videos is that I can learn a great deal and have a good chuckle at the same time.
Love the ironic 'subliminal(s)' that you strategically place throughout your narratives!
Extremely high quality content
You're the best Patrick. Hopefully soon you'll be covering stories from Africa as well soon.
It will be great to hear about how some financial institutions in Africa collapsed from an impartial point of view... 💯
100 💯
It would be very short, predominantly corruption and fraud.
@@supertuscans9512 there's a lot to uncover when it comes to the African corporate world and its web. I think it'll be his longest video ever
How many times can one say ‘corruption and fraud’ in a single video?
@@supertuscans9512 you have a point 😂
Doń´t care if is repeated subject .. I’m rewatching if so - so happy Patrick to get notifications from him
It's easy to see bubbles from the _outside._ For everyone _inside_ the bubble, their own interests are bolstered by their blindness because the increasing wealth _depends on the blindness itself._
Great watch. Thank you
Some people need to watch this again!
Were there any sultry wood nymphs involved in the tulip mania?
You are so great that i dont mind watching your film second time.
As always , thank you and your humor is hilarious 😂.
iTulip
- A movie about turtlenecks, charisma, buzzword salads, and the brief life of 'tech' tulip crazes which hose more average Joe's than TBTF banks taking part in a collateralized debt circle-jerk.
Please make this movie/doco Patrick. I'd love to see you make some polished documentaries with your patented deadpan finance humor.
I was so confused. I knew I saw this, but I would have been sleeping since this came out. Then I remembered reuploads happen.
Such a great video. I watched it twice.
This video helped me understand why Maverick of Walstreet calls Bitcoin Tulips.
Great one, thank you, Patrick!
Arghh my inner train-nerd is really upset that the stock footage is mainly US railways but subject is railways in the UK!
Patrick, as an Irishman, you'll revel in the delights of the Dublin phrase, most aptly put to SVB management currently, i.e. "You're some Tulip!"...
Hey editor - tell us what changed with the video. At least in the description or something.
Apologies. I accidentally deleted it and when I noticed I reuploaded it.
@@PBoyle Awesome, thanks.
I always love a good history lesson, how can we learn from it?
@PatrickBoyle._. scammer no scamming
Nothing is really learned from history......it merely repeats itself, generationally.
:)
Why does Patrick in the thumbnail look like either
A) a serial killer about to kill me.
B) a victim trying to convince me, the serial killer, to not kill him?
i cant believe i rewatched this thinking something changed
So does a tulip taste like an onion? Why was this priceless bulb just out on a table? I want a goofy cartoon recreation of the opening story.
I knew a lot of the Tulip Mania story was...exaggerated, let's say, but the reason it keeps getting brought up over the centuries is that the frantic herd mentality it embodies is real. And keeps happening.
On an unrelated note, I have a huge stockpile of rare POG coins and beanie-babies. Is anyone interested?
Was excited to see a new upload...
Wow Mr. Patrick. Great post. Many thanks.
Thank you for making this video 👍
What an extraordinary video, Patrick. Certainly inspires me to read more history.
Re-upload? Come on man, I was happy to think you ve made another bubble video.
EXCELLENT !!!
Thank you Patrick 👍🙂👍
I found the stories of destroying tulip fields as an example of controlling supply in a speculation market, well found. It did happen.
Very well presented topic. Thanks
Atmospheric railways don't travel in a tube, except for a demonstration line in New York, the Beech Pneumatic Transit system in 1869. They have a tube between the tracks along which a piston runs, connected to the train above through a sealed slot. In the early days of steam engines they weren't a bad idea because the large stationary engines used could be more efficient and more reliable, but locomotive designed soon overtook them. The Dalkey Railway in Ireland ran for ten years and was, I think, the most successful.
The old Subway Sandwich shops were all decorated with images of Beeches car. In Ghost Busters the Slime Monster is seen pouring itself into Beeches brick tunnel.
This is the most Patrick Boyle title I’ve seen yet.
Mackay: "Wasawaswasawasaup RAIL CONNECT!!!!"
I don't think Mackay ever proclaimed himself as an "expert in manias and bubbles". The economic bubbles section of his voluminous book was a very small and relatively uninteresting part of the overall brilliant work "Extraordinary Popular Delusions And The Madness Of Crowds". BTW, Look at the Tulip mania chart and tell me this was irrelevant.
Was Squid Game Token relevant?
for a second i thought we were getting 3 videos in under 7 days
probably re-uploaded for some reason
Apologies. I was cleaning up some old videos and accidentally deleted this one so re uploaded it.
@@PBoyle no worries, now I have an excuse to watch it again
@@PBoyle Thanks for all the hard work. It would help avoid some confusion if you added that to the description though this does give us a good excuse to watch the video again.
@@PBoyle Is there any place youve reuploaded your old lectures? Maybe for Patrons?
you should do one on 1990s baseball cards
Did he tell this story in a previous video, this is only seven hours old and yet I heard him tell it about a week ago
Its like Deja Vu all over again
At the time of the writing of the book, many people were amateur historians who published. One can think of Teddy Roosevelt for example who wrote a popular book on the war of 1812. It ended up distorting many serious facts even in the academic crowd.
good info Patrick, Thank you!
22:22 wow hyperloop is older than I thougt
Interesting video, though I don't think the city @ 1:55 is a Dutch town?
is this a repost ?
Uploaded 9 hrs ago (15th March), but the offer is over at the end of February? Not that I was interested, but still...
Thank you!
It would seem that HS2 is the UK’s 21st century version of Railway Mania, only this time the mug punter is the government and the investors aren’t shareholders but the tax payer.
Never let the truth get in the way of a good story!
Interesting. For some reason this video does not appear in my subscription feed. Are reuploads somehow recognized?
While at the same time it gets promoted in my home feed.
Seems quite strange...
"Flip the Scrip" Love it.
Is this a repost? I swear I heard at least this intro before, word for word.
The best fictional depiction was "The Way We Live Now" by Anthony Trollope.
uploading a youtube classic!
This is reuploaded right?
Is this a re upload? I thought this video came out a few days/weeks back?
Was there a content strike on the first upload?
Bitcoin comes to mind when we talk about manias.
Interesting video Patrick, thanks....am I the only one that notices the parallels between Mackay and a certain someone at this very moment? I wont mention their name, other than the clue... they share the same last initial.
It's extremely funny of how all of the footage of cities at the start is not of Dutch cities :)
but then again ... the whole Tulip mania is mainly bogus, so it's kinda appropriate :)
Good argument for stronger regulation, as long as Capitalism is the underlying System. The definition of the modern use "Middle Class" term came in 1913.
I understand Gold, Silver, precious metals, even the Tech Bubble and Crypto… but flowers that wither???… why….
This reminds me of how many Gold Bugs seem to forget that purchased gold is a loss until sold.
They seem to forget that the worth of your gold is dependent on getting paid more than what you paid.
They seem to forget that the price of gold is primarily dependent on the fiat value of greed.
You have to find somebody more driven than yourself.
Bonus factoid: there are more shares in gold that there is physical gold.
Gold bubbles do occur.
Why was this re-uploaded?
13:33 prices can't fall 10 fold. The maximum is 1 fold, ie, 100% because the fall is measured from the top and a 1 fold / 100% fall will bring the price to zero.
Not true, we're talking magnitudes. If something increases tenfold it's 10x (10 -> 100), if something decreases tenfold it's one-tenth (10 -> 1), and he might not mean it in the literal sense. Tenfold usually just describes a dramatic increase or decrease in either direction.
Why was this reuploaded today?
now people throw around the word tulip mania without knowing what tulip mania is.
Love you content. You are a genius!
Excellent.
Very interesting, thanks
Perhaps the previous civilisation also had the Internet and someone like Patrick was also sharing with then them what could be good to do, but then they also also get wiped out.
7:38 or what sailor upon taking a bite of not an onion would mistake it for an onion
He had been at sea a LONG time.
The railway boom is a good example why expensive infrastructure projects shouldn't be financed by private investors. Mackay predicted right, that railway systems will change the economy of the country completly, but he was totally wrong with the timeline.
It's very expensive to built so much and big new infrastructure, and it takes a lot of time, it needs even more time to built all the factorys, which can use the increase in freight volume. But you can't expect an immediate return of your investments in railroads, because you can only charge your custumomers with prizes they can afford, not with prizes you need to make an instant profit.
The Channel Tunnel is another example, although it is a big succeess for the economy of the countries on both sides, it wasn't a success for the private share holders which fund the tunnel, they nearly lost all their money.
Blinkist is Cole’s Notes !!