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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: Louis V. Lambrecht who wrote (1175)12/3/2000 10:37:22 PM
From: TobagoJack  Read Replies (1) of 74559
 
"This technology will one day unite the peoples of the world, under one government, speaking one language, believing in one god".

At the peak of this technology infrastructure buildout, there were 7,000+ tabloids devoted to the subject in the leading industrial country of the world, 100+% of annual GDP was devoted to further buildout, and between any neighboring medium sized city pairs, there were three sets of infrastructure. And then some one turned off the lights on the railroad mania circa Britain 1860.

Before lights out, the mania spread to emerging markets in Latin America and Asia, and some antique railroad bonds from the Ching Dynasty are still traded in Hong Kong antique shops. Infrastructure, you have to love them.

Anecdote from "Devil Takes the Hindmost", a must read funny business book tracing financial manias from the Roman times onward.
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