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Johnathonathon t1_jad0abn wrote

Apparently the railroad bubble was huge! I can't remember how many miles of excess track was being built but I thinks something like only 40% were routes popular enough to be profitable. The others were railroads to nowhere

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CreepingFog OP t1_jad3vt5 wrote

Yeah, they constructed railroads that led from nowhere to nowhere. They did so not because of a profitable market opportunity, but due to numerous investors driven by FOMO who were handing them their money. And since these companies were not generating any revenue and relied solely on investor capital, the bubble eventually popped as you said. Very similar to what we have been seeing with the tech industry recently.

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Superb-Ad3945 t1_jaebwdk wrote

Like it 2000. I saw some dd where the events of the economy match every 70-80 years. As that is how long it takes for people to die and lessons learned to be lost. Perhaps people live longer now. I think 2008 was not a black swan event but really just getting back to long term average. But the governments would not allow it. So here we are. And the government might not get a say this time

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