Higgenbotham's Dark Age Hovel

[Higgenbotham]

Economics Professor Gary Smith Warns About AI Bubble
https://www.pomona.edu/news/2025/02/20- ... -ai-bubble

It does remind me a bit of the South Sea Bubble. Wal-Mart did sort of deliver on the promise of the South Sea Bubble some centuries later - after it collapsed by something like 98%. The coming collapse will likely be bigger than that one.

https://www.wheresyoured.at/the-case-ag ... rative-ai/

[Higgenbotham]

It does remind me a bit of the South Sea Bubble. Wal-Mart did sort of deliver on the promise of the South Sea Bubble some centuries later - after it collapsed by something like 98%.

This is what is being referred to when mentioning Wal-Mart.

During the South Sea Bubble did the various stock companies promise to import products from all over the world?

AI Overview

During the South Sea Bubble, various stock companies promised to import products from all over the world, even for ventures that were completely bogus. However, most of the schemes and imported goods were secondary to the main event: a massive campaign of public debt consolidation, share manipulation, and propaganda.

The South Sea Company

The South Sea Company, which gave the bubble its name, originally promised to profit from trading with South America. In exchange for taking on a portion of Britain's national debt, the company was granted a monopoly on the slave trade and the ability to send one limited-cargo ship a year to Spanish America. However, the company never generated significant profits from this trade. The real reason for the stock price's rapid inflation was the company's aggressive and misleading campaign to convert government debt into company shares.

Hundreds of "Bubble Companies"

Following the initial surge of the South Sea Company, hundreds of other joint-stock companies were formed to capitalize on the public's speculative fever. These companies offered a wide range of goods and services, and many promised to import various products from around the world. These included:

Importing Swedish iron
Importing walnut trees from Virginia
Importing pitch and tar from North Britain and America
Importing Flanders lace

Deceptive and fake businesses

Many of these new companies were outright frauds with little to no chance of success. Some were designed to be so ridiculous that it's clear the promoters were simply trying to take advantage of the public's mania for speculative investment. One of the most famous of these was "for carrying on an undertaking of great advantage, but nobody to know what it is".

Ultimately, the promises of imported goods from many of these "bubble companies" were never fulfilled and served as little more than a thin veil for fraudulent schemes designed to bilk investors.

AI has its usefulness, as I'm too busy to type all that.

[aedens]

https://www.ebay.com/itm/388997739401?_ ... BMrrm47rhm
Decent reference.

viewtopic.php?p=73448#p73448

thread: l8ter

Your are correct H.
Also the loss of bullion as a ship wreck is not that obsured to some also in the Annuls to regain Polo-tic control
in that direct zone of debaucherys.