the tulipo craze was a fad. it was irrational. it was modern economics at it's worst. tulips had value bcause somebody said they did, and every jackass who rushed in to buy worthless flowers hoping to become rich through speculation lost his shirt.
the same shit happened with the internet bubble, the housing bubble,, the great speculative bubble that preceded the crash in '29, the speculative bubble that preceded the "correction" in '88, etc etc etc.
when you place value in paper paper can burn up overnight. some things, like land you OWN (not leveraged mortgage security) gold, silver, etc etc etc have value too.
some value is based on utility. steel and things made from it will always have value from utility. even if it's not particularly scarce, rather like food in times of plenty.
some value is based on desirability, like art, diamond, jewels, gold, silver, platinum, good wine, etc. and the scarcer it is, the greater that value
some value is derived solely from it's scarcity, and this is the least useful form of value, particularly if the item so valued can be manufactured through a printing press
anything outside these core rules for determining value is pure speculation, like the asshole who though "New Coke is gonna be hugely popular" or the moron who thought "pet rocks, what can go wrong?"
these fools may make a packet, but if they dont dump that turd on some other dupe, they will lose their shirt.
if you think all wealth is created "Pets dot com" style, no wonder you despise the rich. lucky for you, youre wrong, and you can learn what wealth really comes from before you become bitter and used up like bucky.
