England: South Sea Company Bubble
This is the story of how England in the 1700's tried to finance it's public debt through a private company engaged in the slave trade, political corruption and extreme financial machination. This fascinating story has a lot of similarities to booms and busts in our contemporary times, like the dotcom, Enron and housing bubble. An amazing aspect of this story is British citizens where still paying interest on this debt as recently as 2015, three hundred years later. Technology and and fashion change but some fundamental themes remain the same.
Playbook: Government incompetence, Cut taxes, Deregulate, Privatize, Corruption, Bubble, Inequality - repeat Government incompetence
part 1 of 6