Podcast appearances and mentions of Charles Mackay

La tulipomanía (tulpenmanie en neerlandés) o crisis de los tulipanes fue un periodo de euforia especulativa que se produjo en los Países Bajos en el siglo XVII, en los años anteriores a 1637. El objeto de especulación fueron los bulbos de tulipán, cuyo precio alcanzó niveles desorbitados, dando lugar a una gran burbuja económica y una crisis financiera. En el estudio de la economía, se le considera la primera burbuja económica de la historia. El relato de estos acontecimientos fue popularizado por el periodista escocés Charles Mackay, que lo reflejó en su libro Memorias de extraordinarias ilusiones y de la locura de las multitudes (1841)

The best example of human madness is found across the ages.'Extraordinary Popular Delusions & The Madness Of Crowds' by Charles Mackay is a mammoth examination of the most ridiculous crazes across history, whether they be funny, bad or horrendous. Charles details some of the more well known financial bubbles (South Sea, Mississippi, Tulip Mania) but also catalogues well known alchemists/magnetisers & mob activities (The Crusades, Witch Hunts, etc). The book is split into 15 chapters and I consider it a historical document of sorts.If you got value from the podcast please provide support back in any way you best see fit!Timeline:(00:00:00) Intro(00:02:32) Themes/Questions(00:28:09) Author & Extras(00:35:36) Summary(00:38:31) Value 4 Value(00:39:26) What's Coming Up Connect with Mere Mortals:Website: https://www.meremortalspodcasts.com/Discord: https://discord.gg/jjfq9eGReUTwitter/X: https://twitter.com/meremortalspodsInstagram: https://www.instagram.com/meremortalspodcasts/TikTok: https://www.tiktok.com/@meremortalspodcastsValue 4 Value Support:Boostagram: https://www.meremortalspodcasts.com/supportPaypal: https://www.paypal.com/paypalme/meremortalspodcast

In Season 9, Novel Dialogue set out to find the Venn diagram intersection of tech and fiction—only to realize that Kim Stanley Robinson had staked his claim on the territory decades ago. With influential series on California, on the terraforming of Mars, and on human civilization as reshaped by rising tides, KSR has established a conceptual space as dedicated to sustainability as his own beloved Village Homes in Davis, California. All of that, though, only prepared the ground for Ministry for the Future (Orbit, 2020), his vision of a sustained governmental and scientific rethinking of humanity's fossil-burning, earth-warming ways. In only five years, it may have become the most influential work of climate fiction ever—perhaps right up there with Uncle Tom's Cabin in its thoroughly shocking ability to jump into the political fray. Flanked by Novel Dialogue's John Plotz, KSR's friend and ally Elizabeth Carolyn Miller (celebrated eco-critic and UC Davis professor) asks him to reflect on the book's impact. He brushes aside the doom and gloom of tech bros forecasting the death of our planet and hence the necessity of a flight to Mars: humans are not one of the species doomed to extinction by our reckless combustion of the biosphere. However, survival is not the same as thriving. The way we are headed now, “the crash of civilization is very bad. And ignoring it…is not going to work.” Mentioned in the Episode: --Pact for the Future --COP 26 (2021 United Nations Climate Change Conference) --COP 30 (where KSR will be a UN rep….) --Planetary boundaries J. Rockstrom (et. al.) --Charles MacKay, Extraordinary Popular Delusions and the Madness of Crowds --Paris Agreement --Don't Look Up --Tobias Menely, The Animal Claim: Sensibility and the Creaturely Voice --Mary Shelley, Frankenstein; or, The Modern Prometheus (1818) Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/literature

In Season 9, Novel Dialogue set out to find the Venn diagram intersection of tech and fiction—only to realize that Kim Stanley Robinson had staked his claim on the territory decades ago. With influential series on California, on the terraforming of Mars, and on human civilization as reshaped by rising tides, KSR has established a conceptual space as dedicated to sustainability as his own beloved Village Homes in Davis, California. All of that, though, only prepared the ground for Ministry for the Future (Orbit, 2020), his vision of a sustained governmental and scientific rethinking of humanity's fossil-burning, earth-warming ways. In only five years, it may have become the most influential work of climate fiction ever—perhaps right up there with Uncle Tom's Cabin in its thoroughly shocking ability to jump into the political fray. Flanked by Novel Dialogue's John Plotz, KSR's friend and ally Elizabeth Carolyn Miller (celebrated eco-critic and UC Davis professor) asks him to reflect on the book's impact. He brushes aside the doom and gloom of tech bros forecasting the death of our planet and hence the necessity of a flight to Mars: humans are not one of the species doomed to extinction by our reckless combustion of the biosphere. However, survival is not the same as thriving. The way we are headed now, “the crash of civilization is very bad. And ignoring it…is not going to work.” Mentioned in the Episode: --Pact for the Future --COP 26 (2021 United Nations Climate Change Conference) --COP 30 (where KSR will be a UN rep….) --Planetary boundaries J. Rockstrom (et. al.) --Charles MacKay, Extraordinary Popular Delusions and the Madness of Crowds --Paris Agreement --Don't Look Up --Tobias Menely, The Animal Claim: Sensibility and the Creaturely Voice --Mary Shelley, Frankenstein; or, The Modern Prometheus (1818) Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/new-books-network

In Season 9, Novel Dialogue set out to find the Venn diagram intersection of tech and fiction—only to realize that Kim Stanley Robinson had staked his claim on the territory decades ago. With influential series on California, on the terraforming of Mars, and on human civilization as reshaped by rising tides, KSR has established a conceptual space as dedicated to sustainability as his own beloved Village Homes in Davis, California. All of that, though, only prepared the ground for Ministry for the Future (Orbit, 2020), his vision of a sustained governmental and scientific rethinking of humanity's fossil-burning, earth-warming ways. In only five years, it may have become the most influential work of climate fiction ever—perhaps right up there with Uncle Tom's Cabin in its thoroughly shocking ability to jump into the political fray. Flanked by Novel Dialogue's John Plotz, KSR's friend and ally Elizabeth Carolyn Miller (celebrated eco-critic and UC Davis professor) asks him to reflect on the book's impact. He brushes aside the doom and gloom of tech bros forecasting the death of our planet and hence the necessity of a flight to Mars: humans are not one of the species doomed to extinction by our reckless combustion of the biosphere. However, survival is not the same as thriving. The way we are headed now, “the crash of civilization is very bad. And ignoring it…is not going to work.” Mentioned in the Episode: --Pact for the Future --COP 26 (2021 United Nations Climate Change Conference) --COP 30 (where KSR will be a UN rep….) --Planetary boundaries J. Rockstrom (et. al.) --Charles MacKay, Extraordinary Popular Delusions and the Madness of Crowds --Paris Agreement --Don't Look Up --Tobias Menely, The Animal Claim: Sensibility and the Creaturely Voice --Mary Shelley, Frankenstein; or, The Modern Prometheus (1818) Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/science-fiction

In Season 9, Novel Dialogue set out to find the Venn diagram intersection of tech and fiction—only to realize that Kim Stanley Robinson had staked his claim on the territory decades ago. With influential series on California, on the terraforming of Mars, and on human civilization as reshaped by rising tides, KSR has established a conceptual space as dedicated to sustainability as his own beloved Village Homes in Davis, California. All of that, though, only prepared the ground for Ministry for the Future (Orbit, 2020), his vision of a sustained governmental and scientific rethinking of humanity's fossil-burning, earth-warming ways. In only five years, it may have become the most influential work of climate fiction ever—perhaps right up there with Uncle Tom's Cabin in its thoroughly shocking ability to jump into the political fray. Flanked by Novel Dialogue's John Plotz, KSR's friend and ally Elizabeth Carolyn Miller (celebrated eco-critic and UC Davis professor) asks him to reflect on the book's impact. He brushes aside the doom and gloom of tech bros forecasting the death of our planet and hence the necessity of a flight to Mars: humans are not one of the species doomed to extinction by our reckless combustion of the biosphere. However, survival is not the same as thriving. The way we are headed now, “the crash of civilization is very bad. And ignoring it…is not going to work.” Mentioned in the Episode: --Pact for the Future --COP 26 (2021 United Nations Climate Change Conference) --COP 30 (where KSR will be a UN rep….) --Planetary boundaries J. Rockstrom (et. al.) --Charles MacKay, Extraordinary Popular Delusions and the Madness of Crowds --Paris Agreement --Don't Look Up --Tobias Menely, The Animal Claim: Sensibility and the Creaturely Voice --Mary Shelley, Frankenstein; or, The Modern Prometheus (1818) Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/literary-studies

In Season 9, Novel Dialogue set out to find the Venn diagram intersection of tech and fiction—only to realize that Kim Stanley Robinson had staked his claim on the territory decades ago. With influential series on California, on the terraforming of Mars, and on human civilization as reshaped by rising tides, KSR has established a conceptual space as dedicated to sustainability as his own beloved Village Homes in Davis, California. All of that, though, only prepared the ground for Ministry for the Future (Orbit, 2020), his vision of a sustained governmental and scientific rethinking of humanity's fossil-burning, earth-warming ways. In only five years, it may have become the most influential work of climate fiction ever—perhaps right up there with Uncle Tom's Cabin in its thoroughly shocking ability to jump into the political fray. Flanked by Novel Dialogue's John Plotz, KSR's friend and ally Elizabeth Carolyn Miller (celebrated eco-critic and UC Davis professor) asks him to reflect on the book's impact. He brushes aside the doom and gloom of tech bros forecasting the death of our planet and hence the necessity of a flight to Mars: humans are not one of the species doomed to extinction by our reckless combustion of the biosphere. However, survival is not the same as thriving. The way we are headed now, “the crash of civilization is very bad. And ignoring it…is not going to work.” Mentioned in the Episode: --Pact for the Future --COP 26 (2021 United Nations Climate Change Conference) --COP 30 (where KSR will be a UN rep….) --Planetary boundaries J. Rockstrom (et. al.) --Charles MacKay, Extraordinary Popular Delusions and the Madness of Crowds --Paris Agreement --Don't Look Up --Tobias Menely, The Animal Claim: Sensibility and the Creaturely Voice --Mary Shelley, Frankenstein; or, The Modern Prometheus (1818) Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/environmental-studies

Son of the famous Marshal Kellerman, Francois Etienne de Kellerman blazed his own path within the Napoleonic legend. He and his cavalry troopers were pivotal in securing Napoleon's last-second victory at Marengo and served the Emperor all the way through Waterloo. Special guest Charles Mackay tells us all about this beau sabreur! X/Twitter: @bubblesvampire, @andnapoleon --- Support this podcast: https://podcasters.spotify.com/pod/show/generalsandnapoleon/support

Charles MacKay, PhD, former university history professor at Morehead State University and West Virginia University joins us to discuss Queen Marie-Antoinette and her family, especially her son, the ill-fated Louis XVII.These members of the French royal family suffered terribly during the French Revolution, eventually losing their lives to the guillotine or to mistreatment. Join us for a riveting discussion on this Cursed Family.TimecodesIntroduction03:56 - The Austrian Bride07:55 - Marie-Antoinette, Queen of France19:29 - The Affair of the Diamond Necklace34:18 - The Royal Couple's Family Life39:39 - The French Revolution45:52 - The Flight to Varennes and the Queen's Trial56:02 - Louis XVII, an 8-year-old in solitary confinement01:02:52 - The Legacies of Marie-Antoinette & Louis XVII01:10:23 - ConclusionLinks:Charles's BlueSky profile: https://bsky.app/profile/bubblesvampire.bsky.socialCharles's X profile: https://x.com/BubblesVampireMusic: Marche pour la cérémonie des Turcs, composed by Jean-Baptiste Lully, arranged and performed by Jérôme Arfouche.Artwork: Marie-Antoinette et ses enfants, by Élisabeth Vigée-Lebrun, 1787.Support the showReach out, support the show and give me feedback! Contact me or follow the podcast on social media Leave a 5-star review on Apple Podcasts or on Spotify Become a patron on Patreon to support the show Buy me a Coffee

Historian Ken Burns' abuse of history in his fundraising pitch for Vice President Kamala Harris and the Democrats. We're joined by John Dombroski, founder and president of Grand Canyon Planning. Listener call-in's on George Soros' recent buy of radio stations and Seth's use of Charles Mackay's poem No Enemies. See omnystudio.com/listener for privacy information.

The lack of intellectual curiousity. The culture of lies in the Biden Administration.Andy Tobin, former Speaker of the Arizona House of Representatives (R-LD1), on the Arizona Supreme Court's lowering standards for lawyers in rural Arizona. Charles Mackay's "No Enemies" as recited by Gillian Anderson, playing Baroness Margaret Thatcher in the television show The Crown.See omnystudio.com/listener for privacy information.

What can explain Kamala Harris' rise from a 28% approval rating — the lowest of any vice president in American history — to her sudden ascension to the lead, essentially overnight? To understand this phenomenon, Bill goes back to Charles Mackay's Extraordinary Popular Delusions and The Madness of Crowds and shows how ‘Mass Formation Delusions' are shocking, mystifying… and temporary. You can support these messages by making a one-time donation here: https://billwhittle.com/donate-to-bill-whittle/ UNDERSTANDING MASS FORMATION PSYCHOSIS POP PSYCH https://youtu.be/TVVezU8kqFQ?si=I3RISrA-HnnHQ_uj How Can We End Mass Formation Psychosis? | Mattias Desmet Aubrey Marcus https://youtu.be/kc0eIkdLAbA?si=ABcP--2T-r_JHg09

Charles Mackay reviews the experiences and achievements in Egypt of the extraordinary group of savants - engineers, scientists, mathematicians - who accompanied Napoleon Bonaparte to Cairo and beyond in 1798 and whose findings laid the groundwork for modern Egyptology.

The famous twin battles of Jena and Auerstedt cemented the Grand Armee's status as the best military in 1806 Europe. Special guest Charles Mackay joins the show to discuss this clash between France and Prussia. X/Twitter: @bubblesVampire, @andnapoleon *Please give us a follow on Bluesky as well --- Support this podcast: https://podcasters.spotify.com/pod/show/generalsandnapoleon/support

Most people know about Louis XVI's ultimate demise on the guillotine, but how did he arrive at that infamous moment in history? Special guest Charles Mackay joins the show to discuss the King that was overthrown by the French Revolution. Twitter: @bubblesvampire, @andnapoleon **Please follow the podcast on Patreon, Spotify, Apple, and YouTube --- Support this podcast: https://podcasters.spotify.com/pod/show/generalsandnapoleon/support

Memoirs of Extraordinary Popular Delusions by Charles Mackay We pick up this week learning about how private enterprise came up with the plan to save the English economy by exploiting the new frontiers of South America through forming the South Sea Company in 1711. Driven by the promise of ships full of gold coming from the native tribes of the New World a frenzy of speculation in stocks in the company drove stock values through the roof. However, the riches failed to materialise as Spain, in control of most of the New World would not allow free trade from their English rivals. But this didn't prevent some people becoming wealthy from the scam while ruining many, many others. Story (03:01)   Find Memoirs of Extraordinary Popular Delusions by Charles Mackay https://www.gutenberg.org/ebooks/24518            Supporting Sleepy Time Tales If you would like to support my work and help keep the podcast available and for free, there are several ways you can support the show. ·        You can support the show as a supporter on Patreon and receive a host of bonuses including Patron only episodes and special edits https://www.patreon.com/sleepytimetales ·        If you're enjoying Sleepy Time Tales and would like to make a financial contribution, but would rather not commit to a monthly payment then you can throw a tip in the jar at paypal.me/sleepytimetales ·        Get yourself a set of SleepPhones, headphones designed specially for your needs as an insomniac who likes to listen to something to help you sleep, take a look at https://sleepytimetales.net/sleepphones ·        Or check out our new Merch store up at TeePublic where you can buy Sleepy Time Tales merch or even cool works from other creators. Go to https://www.teepublic.com/?ref_id=25247   Patreon Sleep Tight Patrons Chris & Moya Chuck Mysti Roberta Charity Traci Emily Moya Brian Sandra Jillian Anita Demelza Carla     Please Share If you're enjoying the show, and finding it helps you sleep despite the stresses and strains of your life, the absolute best thing you can do is share it with your friends, families, acquaintances, cellmates etc. Anyone who needs a good night's sleep might benefit. So please share it with the people in your life, whether in person or on social media.     Find The Show Website: sleepytimetales.net Patreon: https://www.patreon.com/sleepytimetales Twitter: https://twitter.com/sleepytimetales Facebook: https://www.facebook.com/sleepytimetalespodcast/ YouTube: https://www.youtube.com/c/SleepyTimeTales Merch: https://www.teepublic.com/?ref_id=25247 Project Gutenberg Terms of Use https://www.gutenberg.org/wiki/Gutenberg:Terms_of_Use  

An interesting figure in the French Consulate government and Napoleon's empire. Charles Mackay joins the show to tell us about this politician who aided in developing Napoleon's most lasting legacy, the Napoleonic Code. X/Twitter: @bubblesvampire, @andnapoleon --- Support this podcast: https://podcasters.spotify.com/pod/show/generalsandnapoleon/support

1800... April... May... June... Three months in which Generals Desaix and Kellermann help Napoleon to victory against the Austrians at Marengo... French hopes in Egypt receive a big setback with the assassination of their commander, General Kleber... and in the Ionian Islands off mainland Greece, a new republic emerges out of political turmoil. This is episode 34 of the Napoleonic Quarterly, in which the French succeed not only in north Italy but also in southern Germany with a decidedly underappreciated breakthrough. [06:55] - headline developments [09:08] - extended introduction in which Charles Esdaile and Alexander Mikaberidze discuss the political and strategic importance across Europe of the Marengo and Hochstadt victories [32:18] - David Hollins on the fighting in south Germany and north Italy, including the battles of Hochstadt and Marengo [54:10] - Charles Mackay on the French in Egypt, including the Battle of Heliopolis and the assassination of General Kleber [1:16:29] - Liam Gauci interviews Sakis Gekas on the establishment of the Septinsular Republic in the Ionian Islands

Paul Diamond is a writer, broadcast journalist and historian. His radio programmes have won Qantas Media and Media Peace Awards. He was also awarded a David Low Chevening Fellowship in 2001 to study at Oxford University. Diamond's first book, A Fire in your Belly (2003) is a significant collection of interviews with Maori leaders. Makereti: Taking Māori to the World (2007), is a biography by Diamond, and was the inspiration for the exhibition about Makereti (Maggie Papakura) at the National Library.(Source: Read-NZ)The outcome of years of digging by historian Paul Diamond, Downfall: The destruction of Charles Mackay shines a clear light on the vengeful impulses behind the blackmail and Mackay's ruination.Tune in as controversial writer and podcast host, Damien Grant, interviews a wide selection of interesting and entertaining individuals, authors, business people, politicians and anyone else actually willing to talk to him.For more information, or to get in touch, visit the Different Matters Website. 

We talk about one of Napoleon's Swiss officers in this episode, General Reynier. Special guest Charles Mackay joins the podcast to discuss this talented officer. X/Twitter: @bubblesvampire, @andnapoleon --- Support this podcast: https://podcasters.spotify.com/pod/show/generalsandnapoleon/support

Paul Diamond's book, Downfall: The destruction of Charles Mackay, examines the startling ‘Whanganui Affair' of 1920, when the mayor Charles Mackay, shot a young gay man, D'Arcy Cresswell. The affair and subsequent events reveal the perilous existence of homosexual men at that time and how society conspired to control and punish them. In 1920 New Zealanders were shocked by the news that the brilliant, well-connected mayor of Whanganui had shot a young gay poet, D'Arcy Cresswell, who was blackmailing him. They were then riveted by the trial that followed. Mackay was sentenced to hard labour and later left the country, only to be shot by a police sniper during street unrest in Berlin during the rise of the Nazis. Mackay had married into Whanganui high society, and the story has long been the town's dark secret. The outcome of years of digging by historian Paul Diamond, Downfall: The destruction of Charles Mackay shines a clear light on the vengeful impulses behind the blackmail and Mackay's ruination. At its heart, the Mackay affair reveals the perilous existence of homosexual men at that time and how society conspired to control and punish them. We recommend that you watch this presentation if you can on YouTube, so that you can see the images Paul discussed in his talk. Downfall: the destruction of Charles Mackay (YouTube) Since Paul gave this talk in December 2022, Duigan's Buildings, in Whanganui, where the shooting took place, have been listed by Heritage New Zealand as a Category 1 History Place. Duigan's Buildings (Heritage New Zealand) This presentation was made at the National Library in December 2022.  Paul Diamond (Ngāti Hauā, Te Rarawa, Ngāpuhi) has been Curator Māori, at the Alexander Turnbull Library since 2011. A journalist and broadcaster he is also the author of A Fire in Your Belly: Māori Leaders Speak (Huia, 2003), Makereti: taking Māori to the world (Random House, 2007) and Savaged to suit: Māori and cartooning in New Zealand (NZ Cartoon Archive, 2018). His latest book Downfall: The destruction of Charles Mackay was published by Massey University Press in November 2022. Download a transcript of this talk: https://nzhistory.govt.nz/files/pdfs/paul-diamond-pht-transcript-2022-12-12.pdf

General Clauzel's finest moment came during a disastrous defeat. At the 1812 Battle of Salamanca, the Duke of Wellington severed the French army of Marshal Marmont. At the beginning of the battle, Marmont and his second-in-command were wounded and there was no command chain. At this chaotic moment, General Clauzel stepped up to prevent the total annihilation of the French army. Charles Mackay joins the program to tell us about this talented general who became a Marshal after Napoleon's reign. Twitter: @BubblesVampire, @andnapoleon --- Support this podcast: https://podcasters.spotify.com/pod/show/generalsandnapoleon/support

“I haven't missed [striking Detroit newspapers] myself.  It's better to be uninformed than misinformed. I even doubt some of the pictures I see in the papers.”  -Orville Hubbard, mayor of Dearborn, 1955   We tend to believe others are like us.   The average leftist who tells us private charity could never pay for the hopeless charity cases… doesn't herself give very much.   Women who are into politics universally share the opinion that nothing is of greater interest to their sex.  Certainly not gossip or makeup, though chrome histories beg to differ.   “You have no enemies, you say? Alas, my friend, the boast is poor. He who has mingled in the fray of duty that the brave endure, must have made foes. If you have none, small is the work that you have done. You've hit no traitor on the hip. You've dashed no cup from perjured lip. You've never turned the wrong to right. You've been a coward in the fight.” ― Charles Mackay

1799. July… August… September… Three months in which the Allies' pivot north to Switzerland fails thanks to a fightback from Massena... the British team up with the Russians in a bid to stir up Holland… And in Egypt Napoleon Bonaparte wins another victory for the French against the Ottomans - before sneaking off in the night on a fast ship back to France. This is episode 31 of the Napoleonic Quarterly - covering three months of desperate fighting - and desperate measures. Help us produce more episodes by supporting the Napoleonic Quarterly on Patreon: patreon.com/napoleonicquarterly [06:07] - Headline developments [16:54] - David Hollins on the fighting in Germany [50:49] - Phil Ball on the British-Russian efforts in Holland [1:10:32] - Charles Mackay on the Battle of Aboukir Plus Charles Esdaile and Alexander Mikaberidze join us throughout to talk through their perspectives on the period.

More homeless people have been created due to the housing supply crisis. Homelessness is up 11% since last year, per the WSJ. The opioid crisis, consumer inflation, and NIMBYism have contributed too. California has the most homelessness on both a total and per capita basis. States with higher housing costs have more homeless people. I share our poll results: “Should we pay to house the homeless?” Are you a NIMBY? We find out today. We can increase housing supply with rezoning, construction training, and lower mortgage rates. The cycle of investor emotions led to wild investing manias. It was tulip bulbs in the 1600s Netherlands and Beanie Babies in the 1990s United States.  I discuss exactly why “buy low, sell high” is more difficult than it sounds. Timestamps: The correlation between homelessness and the housing market [00:00:00] Discusses the relationship between the housing market and the increasing problem of homelessness in America. Investing manias and lessons from history [00:00:00] Explores the phenomenon of investing manias and the lessons that can be learned from historical examples. The tight inventory market conditions and potential solutions [00:04:56] Lawrence Yun, Chief Economist of the National Association of Realtors, discusses the tight housing market conditions and suggests tax incentives to increase housing supply. Timestamp 1 [00:10:32] Affordability of moving to different cities and the proposal of a tax incentive for real estate investors. Timestamp 2 [00:11:49] Discussion on the housing supply crisis, mortgage rates, and the homeless population in the US. Timestamp 3 [00:14:14] Increase in homelessness in America, reasons behind it, and the correlation between housing prices and homelessness rates. The impact of high density housing on quality of life and home value [00:21:12] Discussion on the potential negative effects of building high density housing near single family homes, including reduced home value, increased traffic and noise, and loss of nearby open space. Alternative solutions to increase housing supply and reduce homelessness [00:23:30] Exploration of alternative measures to address homelessness, such as trade training for the homeless and relaxing excessive safety requirements in home building. Giving real change to the homeless [00:25:50] Encouragement to give directly to homeless shelters or soup kitchens instead of giving small change to individuals on the street, with the concept of "give real change not small change" explained. Note: The timestamps provided are approximate and may vary slightly depending on the podcast episode. The Origins of Tulip Mania [00:31:37] Tulips were introduced to Europe in the 1500s and became a luxury item for the affluent. The cultivation of tulips locally in the Netherlands led to a flourishing business sector. The Tulip Bubble [00:32:55] By 1634, tulip mania had swept through the Netherlands, with the demand for tulip bulbs exceeding supply. Prices reached exorbitant levels, and futures contracts were being bought and sold. Lessons from Tulip Mania [00:37:53] Tulip mania serves as a model for financial bubbles, with similar cycles observed in other speculative assets like beanie babies, baseball cards, NFTs, and stocks. It highlights the dangers of excess, greed, and speculation without tangible value. The cycle of investor emotions [00:44:32] Explanation of the different stages of investor emotions, from optimism to panic, in relation to stock market investing. The peak of the stock market [00:46:43] Discussion on the peak of the stock market being the point of maximum financial risk and the difficulty of selling at the right time. Real estate as a stable investment [00:51:56] Comparison of real estate investment to speculative bubbles, highlighting the stability and income stream provided by real estate. Explains how the integration of HOA (Homeowners Association) helps maintain uniformity and cleanliness in the rental property investing world. Details about the upcoming real estate event [00:38:31] Promotion of a live event where listeners can learn about new construction fourplexes and have their questions answered in real time. Resources mentioned: Show Notes: www.GetRichEducation.com/463 Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com Invest with Freedom Family Investments. You get paid first: Text ‘FAMILY' to 66866 Will you please leave a review for the show? I'd be grateful. Search “how to leave an Apple Podcasts review”  Top Properties & Providers: GREmarketplace.com GRE Free Investment Coaching: GREmarketplace.com/Coach Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free— text ‘GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Keith's personal Instagram: @keithweinhold   Complete episode transcript:   Welcome to Get Rich Education. I'm your host, Keith Weinhold. America's homeless problem has become FRIGHTENING. I describe how that correlates… with the housing market.  Then, investing MANIAS. What drives people to spend more for one tulip flower bulb than they would for an entire luxury home?    And lessons you can learn that'll benefit you the rest of your life from other manias throughout history. All today, on Get Rich Education.   ___________   Welcome to GRE! From Seaford, DE to Carmel-by-the-Sea, CA and across 188 nations worldwide, you're listening to one of America's longest-running and most listened to shows on real estate investing. Along with plenty of ongoing hot takes on wealth mindset and the real estate economy.    I'm your host, Keith Weinhold.    See, the crash in the SUPPLY of available American homes is bad and it isn't just creating more upward prices, it's a contributor to homelessness.    Let's talk about some of the drivers of homelessness, understand the problem a little more, how many homeless people ARE there in America, and then… what can we do about it?   As you'll soon see, one prominent real estate industry influencer actually suggests that you actually SELL your rental single family homes in order to help serve the homeless. More on that shortly.    Also, I have the results from a GRE Instagram Poll. The poll question is: “Should we pay to HOUSE the homeless?”    And the answers that you - the GRE listeners gave… actually surprised me. I'll give you those super-interesting poll results later, because I have more to explain there.   But first, what IS a homeless person? Let's define it. I think most anyone knows that since it's a person without a home, it's thought of as living on the street.   Really, then, that person might not be homeless but “houseless” in a literal sense. Even if they live in a tent under a bridge, that is then, their home. Though it might be INADEQUATE housing.   More accurately, the unsheltered or undersheltered population could be more apropos.     Then there's vagrancy. A vagrant is defined as a person without a settled home OR regular work… who wanders from place to place and lives by begging.   So vagrants are PART of the homeless population then. This all helps DEFINE what we're discussing.   Now, the lack of available American housing supply - especially the affordable segment - is OBVIOUSLY a big contributor to homelessness.   For example, anymore, how many builders even construct a new-build entry-level home for $200 or 250K? Practically nobody… anywhere.   And just how bad is the supply problem now? Well, the NAR has been tracking housing supply since 1982 and it just hit its lowest level ever this summer - EVER - and that's in 40+ years of tracking.    That's one reason why just last week, it was announced that Warren Buffett is making a big bet on housing by investing in homebuilders.   Now to keep consistent with the same stats I've been reporting to you for you, to update that, again 1-and-a-half million available homes is the baseline supply. That's the long-term “normal” per the FRED Active listing count.   And through last month, it's still under 650,000. That is STILL a housing SUPPLY crash of 57% from its peak of 1 ½ million.   I want you & I to listen to this upcoming piece together. This recent interview with NAR Chief Economist Lawrence Yun is from the 8th of this month.   Yes, HE is the one that basically wants you to sell your SF rental properties. And he makes his case for an inducement to get you to do this. (Ha!)   He's not proposing anything COMPLETELY ludicrous. It's REALLY interesting. Listen closely for that.   This about 5 minutes in length and there's a lot of material here within this clip - a nutrient dense piece, so I've got SO much to say about this when I come back to comment.    [Yun clip]    Yeah, the NAR Chief Economist there talking about how, much like I have for years, great opportunity is in the Midwest and Southeastern parts of the US.    With this greater ability for people to work from anywhere, when people move in from the pricy coasts, it's sooo affordable to them.   Moving from Manhattan to Cincinnati feels incredibly affordable.  Moving from San Francisco to St. Louis feels like you've upgraded from serfdom to a kingdom. Moving from Boston to Jacksonville feels like a total life makeover.   That's why, here at GRE, we're focused on properties in those INbound destinations.    Before I continue, especially for those outside the US, I know that it seems a little odd that Ohio and Indiana are in what we call the Midwest when they're actually in the northeastern quadrant of the nation.   But the fact that they ARE midwestern states is rooted in history and in cultural tradition.   So, getting back some new angles on the housing supply crisis.   Lawrence Yun proposed that a tax incentive be introduced to unleash the inventory of SF rentals from individual REIs.    And says that there are over 20 million single-family housing units that are rented out.    If we reduced or canceled the capital gains tax & just got 1% of that inventory on the market, he states that that would help.   Well, yeah, but even that then would only put about 200,000 units of the market - and they'd get snatched up so fast.   Now, if mortgage rates come down to say, 5%, it would unleash both housing demand AND supply.    Both - like Lawrence Yun says. So it's not apparent that that would help this shortage, if both demand and supply go up.   In a nation of about one-third of a BILLION people now - that's how I like to express it this year - America now has one-third of a billion people… also known as 333 million - how many do you think are classified as homeless?   As you think about that - as you think about how many of America's 333 million Americans are homeless, this homeless population figure that I'm about to share with you is from HUD and it's through last year, so it's their latest year-end figure.    And I'll tell ya, it's hard to believe this number. The Department of Housing and Urban Development states that about 582,000 Americans are experiencing homelessness.   Now, how HUD does this is that their number is a snapshot of the homeless population as of a single night at the end of January each year.    The total number of people who experience homelessness for SOME PERIOD each year will be higher than that.   I just did the math and then that means that just 1 in every 572 Americans are homeless. C'mon. Do you believe that? Only one in every 572 Americans are homeless?   I might believe that it's something like more than 1 in 200. What are your thoughts?   Even HUD would probably concede that there are shortcomings in that stat and that it's only a starting point.   And over the last decade, according to HUD, the homeless population is little changed… apparently until just this past year.   Homelessness is surging in America. The number of people experiencing homelessness in the US has increased 11% so far this year over 2022. That would be the biggest jump by far in equivalent government records beginning in 2007.   Now this 11% homeless jump is according to a WSJ analysis of hundreds of smaller & local agencies.    Most  agencies say the alarming rise is because of the lack of affordable housing and rental units, and the ongoing opioid crisis.   Inflation is part of that affordable housing problem. Inflation widens the disparity between the haves and have-nots.   To cut some slack to census-type of surveying, homelessness can be hard to measure. Some live on skid row, some live in the woods, some homeless people live in their cars.    Some aren't interested in being counted. Others are essentially invisible. I mean, if someone's between jobs and needs to couch surf at their aunt and uncle's place for three months, are they homeless or not? So, to be sure, there's a lot of leeway in those numbers.   One in 572 as homeless - that should just be a minimum - a starting point in my opinion.   Now, homelessness broken down by STATE is really interesting.   California at 171,000, has the most of any state, more than double of next-most New York, and then Florida is third.   But let's break that down by rate - on a per capita basis. So… think of this as the highest CONCENTRATION of homeless:   Washington DC has 65 homeless per 10,000 people. That's not really a state though, so…   #1 on a per capita basis is STILL California, with 44 per 10,000. So California leads in the nation in homeless on both bases then - both absolute and relative.   The second highest rate is Vermont.  Third Oregon Fourth Hawaii Fifth is New York And then numbers 6 through 10 on the most homeless per capita are Washington, Maine, Alaska, Nevada, and Delaware.   Now, strictly anecdotally. You've probably seen just what I've seen in the last year-plus - more visible homeless people in your city and other cities.   The state with the FEWEST homeless of all 50 states is Mississippi - and see, housing is quite affordable there. MS is one of the most affordable states for housing.    There is at least SOME correlation between your cost of housing and homelessness.   Recently on our Instagram page, and the handle there is easy to remember - it's @getricheducation - if you want to participate in future polls, we ran a poll on homelessness.   Here is the poll question that we ran - and I'd like you to think about your answer to this too.   “Should we pay to house the homeless?”    That's the question.    And in polling, the way that the question is phrased, of course, can skew your answer.    See, if instead, we phrased it as, “Should the government house the homeless?” you might have more ‘yes' answers - even though it's the same question - because you FUND the government.    But the question as we phrased it: “Should we pay to house the homeless?” - it also showed a photo of vagrants on a street curb under the question.   Here we the results, which surprised me, to:  Should we pay to house the homeless?   Those answering “Yes” were just 6% The no's were 45% But we also had a third option: “It's complicated”. 48% answered with that option.   So again, just 6% of you said we should pay to house the homeless and 45% said “no”. “48% said it's complicated”.   In a way, that makes sense to me since we have a largely entrepreneurial, self-made type of audience. I thought that might have happened.   But what surprised me is in how emphatic it was. It was a landslide. 7 to 8 TIMES as many of you said we should not pay for the homeless as those that said we should.   Well, the reason that I added - and I'm the one that ran the poll myself - they're quick to do. I added the paying to house the homeless “It's complicated” option because it IS complicated… that WAS the most popular answer.   I mean, why should you go to work and pay to house a stranger that has no income because he or she doesn't want to work?   But what if they're disabled and they can kinda work but not really work… or a zillion other complications.    Substance abuse is obviously a big problem that keeps homeless people homeless… and there's a substantial thought paradigm that says, if they're an abuser, then why would I pay for THEIR housing?   Substance abuse is just one reason that there is a population that's VOLUNTARILY homeless. They don't want to have to comply with a group home's ban on substances.    I wanted to address the homeless problem somewhat today, because here we are on Episode 463 of a real estate show and this is the most that we've even discussed it.   I think the perspective it gives you is that it helps you be grateful for what you've got.    But it's abundance mentality here. You can be grateful for what you have and at the same time, grow your means.   What else would help with more housing supply which would also move us toward mitigating the homeless problem?   Well, we've already discussed a number of them so I'll only go in depth with some fresh angles here.   Obviously, more homebuilding. We've done episodes on how 3D printed homes and shipping container homes are not quick, easy answers. Tiny homes might be but then you could get into a zoning density problem again.   Just last week, my assistant brought me this Marketwatch article that reported that the average American home size is shrinking just a little & that often times, new-build houses tend to be a little closer together.   That's what gets us into relaxing zoning requirements. But you know something, OK, this is going to be interesting.    This plays into NIMBYism. Not In My Backyard: communities saying that they don't want high-density housing built next to them.    Now, I think that there are a lot of critics of NIMBYism. But the criticism comes from people that live far out of that area and aren't affected.   Let me just play a fun little experiment with you here. Let me paint a picture of a fictitious life for you and just… place yourself there.   Say that you live in a nice single-family home, with a quarter acre lot. It's not a sprawling estate but you've got a good measure of privacy that way.   You're in a SFH, quarter-acre lot and two car garage. That is classic suburbia.   And… just a hundred yards away from your home there's a big, wide-open field where you walk your dog and use as a little makeshift golf driving range or whatever. Nice open space nearby.   Say you've got a fairly idyllic life here. It's always been this way since you bought the home years ago.   Suddenly, in your neighborhood of all SFHs, you learn that they want to build a bunch of fourplexes in the nearby lot where you used to throw tennis balls to your dog.   What can that do to your quality of life & your home's value, now that a bunch of new fourplexes and eightplexes were built nearby?   It reduces your home's value because there are less valuable, high density properties nearby.   It also increases the amount of traffic & even noise in your neighborhood. Now you can't use that nearby park anymore - it's been all-built up with these higher-density apartments.   So, let me go back and ask - point blank - did you really want all those new high-density developments near your home?   If that made you uncomfortable, that's NIMBYism. So it's quite natural to evoke that feeling type. You're just a human being.   How else can we increase housing supply to help reduce homelessness?   NOT with rent control. Over time, capping the amount of rent that a LL can charge gives property owners no incentive to improve their property and neighborhoods end up dilapidated.   We need more training for tradesman and laborers. How about training the homeless for that? But then someone's got to pay for that training.   Another measure that's become ridiculous is that we've gotta relax these excessive safety requirements in homebuilding. Now, some safety is good.   But when every single home - entry-level and all needs to have fire-rated shingles and fired-rated doors and GFCI outlets and smoke detectors in every room and carbon monoxide detectors all over the place, sheesh! Well, that raises the cost of housing for everyone.   In some earthquake-prone areas, you've got to have seismic restraining straps on your water heater or you can't even sell your home. Do you know how big of an earthquake it would take to damage your water heater like that?   And an excessive safety PROPONENT might say, yeah, but did you hear about that one family that died ten years ago that would have lived if they had carbon monoxide detectors?   Well, the counterargument to that is, yeah, but what about all the homeless people that were exposed to the elements and died in the cold because they couldn't AFFORD the more basic housing, the prices of which have escalated for all this excessive safety stuff.   Are you saying a middle class person's life is worth more than a poor, homeless person's life? That's the counterargument.    Again, some safety is good. But we've gone overboard in too many places - in housing & beyond.   Rising housing costs keep people homeless. A few weeks ago, I did that episode about escalating insurance costs.   I now own some properties that have extremely low mortgage rates and the insurance has gone up to the point where I pay more in monthly escrow expenses than I do principal & interest.    But, hey. I'm not homeless, and if you're listening to this, neither are you.   So when it comes to helping the homeless in the short-term, that campaign called, “Give real change, not small change.” - that really resonates with me.   Don't give 5 bucks to a vagrant on the corner. That just keeps them showing up at that corner, plus they're going to spend your 5 bucks on a cheap bottle of Monarch vodka.   Instead, if you're going to give, give to a homeless shelter or soup kitchen.    That's what's meant by “Give real change, not small change.” And that's something actionable.   Coming up next, investing MANIAS. How wild it gets - paying more for a tulip flower than a SFH, shooting and killing someone over a Beanie Baby toy… and then I'm going to wrap it all up with what all this has to do with the cycle of your investor emotions.   Around here, we don't run ads for the Swiffer. This week's sponsors that support the show are people that I've personally done real estate business with myself and have benefited from.    Ridge Lending Group specializes in INVESTMENT property loans in nearly all 50 states. Start your prequalification at: RidgeLendingGroup.com    Then, for super-passive real estate returns, check out Freedom Family Investments. Right now, what you can do, is just text “FAMILY” to 66866.   I'm Keith Weinhold. You're listening to Get Rich Education. ___________ Welcome back to the GRE Podcast. I'm your host and my name is Keith Weinhold.    If you've got a friend or family member that you think would benefit from the knowledge drops here on the show, you can simply tell them to grab the free Get Rich Education mobile app.   That's a convenient option for listening every week for both iOS and Android.   Today's topics of homelessness and investing manias could very well bring a new audience here, so…    A little more about my backstory. I'm from PA but got my real estate comeuppance in Anchorage, Alaska of all places & grew out nationally & internationally from there. I had humble beginnings and wasn't born anywhere near wealthy. I had to figure out how to build it myself.   But see, if I were born wealthy, I wouldn't have learned how to build it, and then I wouldn't be of much help to you. Likewise, if you're building it yourself, you'll be able to help others too.   BTW, I was born in the same PA town as Taylor Swift.    Though she & I don't have much ELSE in common, I guess that she & I are both best-known for using a microphone.   Though I think that I'm about as likely to start using this microphone to sing into your ears like Taylor Swift does… as Taylor is to launch a real estate investing show.   For hundreds of years, the tulip has been one of the most-loved flowers in the Netherlands. It's an enduring icon - as synonymous with the country as clogs, windmills, bicycles, and cheese. The tulip has a long and storied history - including the infamous shortage in the 1600s known as “tulip mania”. If you're someone that has even a fleeting interest in investing, you should at least know what this is.   Tulips first appeared in Europe in the 1500s, arriving from the spice trading routes… and that lent this sense of exoticism to these imported flowers that looked like no other flower native to the continent. It's no surprise, then, that tulips became a luxury item destined for the gardens of the affluent.  According to The Library of Economics and Liberty, “it was deemed a proof of bad taste in any man of fortune to be without a collection of [tulips].” Hmmm. Well, following the affluent, the merchant MIDDLE classes of Dutch society sought to emulate their wealthier neighbors and also demanded tulips. So to start out with, it was purchased as a status symbol for the sole reason that it was expensive. But at the same time, tulips were known to be notoriously fragile, and would die without careful cultivation. In the early 1600s, professional cultivators of tulips began to refine techniques to grow and produce the flowers locally in the Netherlands. They established a flourishing business sector that persists to this day. By 1634, tulipmania swept through the Netherlands. The Library of Economics and Liberty writes, “The rage among the Dutch to possess tulip bulbs was so great that the ORDINARY INDUSTRY of the country was neglected, and the population, even to its lowest dregs, embarked in the tulip trade. Now, everyone's in - rich to poor. It's a little hard to say for sure how much people paid for tulips.  But Scottish journalist Charles Mackay, wrote an extremely popular 1841 book - you've probably heard of this book - it's called the Memoirs of Extraordinary Popular Delusions and the Madness of Crowds… It does give us some points of reference such that the best of tulips cost upwards of $1 million in today's money (but a lot of bulbs traded in the $50,000–$150,000 range).  By 1636, the demand for the tulip trade was so large that regular markets for their sale - like a little Dow Jones Industrial Average - got established on the Stock Exchange of Amsterdam, in Rotterdam, Haarlem, and other towns. It was at that time that PROFESSIONAL TRADERS got in on the action - that's all that some people do now - is trade tulips… and everybody appeared to be making money simply by possessing some of these rare bulbs.  Dutch speculators at the time spent incredible amounts of money on bulbs that only produced flowers for a Week—many companies were formed with the SOLE PURPOSE of trading tulips.  To everyone, at the time, it seemed that the price could only go up forever. Pretty soon, demand for tulips EXCEEDED THE AVAILABLE SUPPLY of tulips by so much that people were into buying futures contracts, basically saying, I'll pay you this much money TODAY for a tulip that you provide to me in 3 years. By the last 1630s, these futures contracts were like a crack that appeared in the price runup. Demand began to wane when people were just buying a token for a future tulip that hadn't even started growing yet.  People felt like they weren't buying anything tangible anymore. That's one factor that helped create an oversupply of tulips in the market and started depressing the prices. Supply caught up with - and exceeded - demand. A large part of this rapid decline was driven by the fact that people had purchased bulbs on credit, hoping to repay their loans when they sold their bulbs for a profit. But once prices started to drop, holders were forced to sell their bulbs at any price and to declare bankruptcy in the process. So people had begun buying tulips with leverage, using margined derivatives contracts to buy more than they could afford. But as quickly as the run-up began, confidence was dashed. By the end of 1637 is when prices began to fall and never recovered.   And the bubble burst. Buyers announced that they could not pay the high price previously agreed upon for bulbs, and that made the market fall apart.  While it wasn't actually a devastating occurrence for the entire nation's economy, it did undermine social expectations. The event destroyed relationships built on trust and people's willingness and ability to pay. It's been said that “the wealthiest merchants to the poorest chimney sweeps jumped into the tulip fray, buying bulbs at high prices and selling them for even more.” Well, this is what can happen - today it happens with financialization and nothing real backing up purchases. Tulipmania is a model for the general cycle of a financial bubble. That's what happened with Dutch tulips. Now, here in more recent times, similar cycles have been observed in the price of Beanie Babies, baseball cards - I got caught up in the baseball cards as a kid, owning more than 100,000 baseball cards at one time, also non-fungible tokens (NFTs), and shipping stocks.       The example of tulipmania is now used as a parable for other speculative assets, such as cryptocurrencies today or dotcom stocks from around the year 2000. So, when you hear someone likening an investment to a Dutch tulip bulb, now you'll know what they're talking about. It's a symbol of excess, greed, and FOMO. But there has been a good bit of more modern scholarship that tells you that tulip mania did indeed occur in the 1600s Netherlands. But that the tale has been exaggerated and it's something that the upper classes of society were mostly involved in. Now, that's the Dutch tulip bubble. But for a more modern-day parable about an investing mania, there's a new movie about the rise & fall of BEANIE BABIES that's on Apple TV+. These were little stuffed, plush toy animals that became more popular among adults than children. The rise and fall of Beanie Babies—toys that people mistakenly thought would make them rich. The movie is called “The Beanie Bubble”.  It's a MOSTLY TRUE account of the lovable toys' boom and bust in the '90s -  comparable to the meme stock frenzies that took place during the Covid-19 pandemic. These $5 pellet-stuffed plush toys had astronomical appreciation estimates: Stripes the Tiger, released in 1996, was predicted by collectors to surge from $5 to $1,000 by 2008.  Forecasts like these were so enticing that one dad invested his kids' college funds in Beanie Babies, thinking he'd resell them later for a hefty profit. At the height of the frenzy, people were ruining relationships and committing felonies to get their hands on some of these sacks of fuzz. Border officials confiscated more than 8,000 smuggled Beanie Babies at a US–Canada border crossing in 1998. A West Virginia man shot and killed a former coworker in 1999 after an argument partly about $150 worth of Beanie Babies. That same year, a divorcing couple couldn't agree on how to split up their collection, so the judge made them divvy up the toys in person, right on the courtroom floor. How did that all happen? Barely anyone cared about Beanie Babies when a company called Ty Inc. launched them in 1994. Stores only got lines out the door once the toy's creator, now-billionaire Ty Warner, began pulling strings to juice demand. Here's what Warner did. OK, so here's how you induce people into a speculative bubble. He refused to stock Beanie Babies at Toys R Us and Walmart. Instead he created an illusion of rarity by only selling them at small toy stores and independent shops. Even if you did find a retailer, every store's supply of Beanie Babies was limited to 36 of each animal, so inventory restocks drew a crowd. This, combined with Warner's decision to start “retiring” certain animals in 1995, created artificial scarcity and a mass panic to stock up on Beanie Babies.  Soon, an aggressive resale market was born, replete with magazines and blogs and even trade shows for these Beanie Babies. One woman's guide to the secondary Beanie Babies market got so popular that she was selling 650,000 copies per month and, on many days, she did two or three radio interviews before her kids woke up for school. Ty Inc. later gave her an award for boosting sales. At Peak Beanie mania, Ty Inc. and legions of speculators actually made hordes of money: The stuffed animals accounted for 6% of eBay's sitewide sales in 1997 and 10% in 1998. Beanies averaged a resale value of $30—six times their retail price—but rare ones, like the Princess Diana bear, went for hundreds or thousands of dollars (and now you can find one online for $15 bucks). Ty Inc. hit $1.4 billion in sales in 1998, which is what Mattel grossed in Barbie dolls in 1995. At the end of the year, Ty Warner gave all ~250 employees holiday bonuses equal to their annual salaries. But most regular people didn't sell their Beanie Babies at their peak price. And unfortunately for them, the hype subsided. Anticipating a drop in interest as more kids reached for Pokémon and Furbies, Ty Inc. announced it would stop making Beanie Babies at the end of 1999, and that poked a hole in collectors' this-will-never-not-be-popular mentality and that sent demand plummeting. There were no underlying fundamentals to Beanie Babies' value. That's all that I've got on that speculative craze.   So let's review how this happened with both speculative crazes - Dutch tulips and Beanie Babies: Investors lose track of rational expectations. Psychological biases lead to a massive upswing in the price of an asset or a sector. A positive-feedback cycle keeps inflating prices. And soon, investors realize that they are holding an irrationally-priced asset. Prices collapse due to a massive sell-off, and an overwhelming majority go bankrupt. Now, much stock market investing is based off of buy low and sell high mentality. And stock investors can get caught up in similar crazes.    But because many stocks are tied to productive companies, the stock investor deals with smaller bubbles. A lot of times, the stock price can double, triple, or even 10X even though that company is not even profitable. Buy low & sell high. Well, that sounds easy. But why is this harder to do than it sounds? It's called the cycle of investor emotions.   It starts here with… optimism. Because you HEAR about 10% stock returns or people making money with Dutch tulips or Beanie babies.    Let's say that you aren't fully invested in the stock market. But some friends are, and they're achieving small gains.   Then comes excitement. The market is now up some more. Hey, what's in motion tends to stay in motion.   More friends are telling you how much money they're "making".    You're soon experiencing a full-blown case of FOMO—Fear Of Missing Out.   The next stage is the Thrill you feel. So you jump into the stock market fully, rationalizing with something like, "Hey, I'm a momentum investor". Sounds pretty good, I guess.   Now that you're in, it actually feels fantastic to you for a short time. You figure that some days, you're making more from stocks than your job. Winning activates dopamine.    Dopamine is a brain chemical that's known as the “feel-good” hormone. It gives you a sense of pleasure. It also gives you the motivation to DO SOMETHING when you're feeling the pleasure.    So then, you add MORE shares… at an elevated price until you are FULLY invested. Now everyone is "making money", even your Uber driver.   The next stage is Euphoria - The peak! As you can see, this is the Point of Maximum Financial Risk.    OK, now, remember the simplicity of “buy low, sell high”?   Well then, savvy stock investors should now be SELLING here in my example - at the HEIGHT.   Now be “selling”? Leaving the party at its crescendo? Stopping the dopamine flow? Yes, exactly… and THAT'S why it's so difficult.    What happens after the stock market peak? Overbought, with bloated price-to-earnings ratios, the market soon drops 10% from its recent high.    That's what's known as a correction - a drop of 10% or more. Now you feel a little ANXIETY. Your dopamine flow is stifled.   Next, you tell yourself, "I shouldn't be worried because I'm a long-term investor." It's down 15%. You're experiencing DENIAL & FEAR.   Now you're checking the Robinhood app almost hourly to see if it will recover.   Next, comes Desperation & Panic - Stocks are down 20%, that's the definition of a bear market. You're devoting more mindshare to this each day than what's healthy.   Then there's Capitulation - Down 30%, you finally surrender to a FEAR of FURTHER LOSS. You're getting so sick of months of losing. You finally do it and cash out your stocks into a safe money market fund. Now you're out.   And you rationalize and justify doing this because you tell yourself, "You know, at least when I wake up tomorrow, I'll know that I haven't lost money AGAIN. And THAT gives me certainty.”    The next stage in the Cycle of Investor Emotions is Despondency - You realize that what you've done is the polar opposite of successful investing. It's complete. You've now bought high… and then sold low.    Next, stocks completely bottom out. But this is actually the Point of Maximum Financial Opportunity. Instead, you should be buying.   But you can't. Because you're experiencing the next investor stage - Depression. You're so full of contempt for the situation that the idea of actually buying at bargain-basement levels again is simply inconceivable. You've been burnt badly.   Then, there's Hope & Relief - The market has begun ticking up after the crash. It soon should be clear that share prices are FAIRLY VALUED again.    But you don't buy the recovery story. You wait until enough price growth occurs that the confidence and Optimism stage is felt again before you'll even consider getting back in and buying.   And the entire pattern repeats.   That's the “cycle of investor emotions”. There's an average of 3-and-a-half years between each stock bear market, BTW.   Of course, we've been kind to call this all “investing”. It's more like speculating.   But here's the real problem—most investors THINK they're better than average stock pickers, so they keep playing this game. This effect has a name. It's called illusory superiority.   It's like how at least 70% of people think they're better than average drivers, despite the statistical impossibility.   Even professional money managers fall prey to this! Fewer than 10% of active U.S. stock funds manage to beat THEIR benchmarks.   The renowned British economist and value investor Benjamin Graham once said: "The investor's chief problem—even his worst enemy—is likely to be HIMSELF." Well, as real estate investors, we largely SIDESTEP the cycle of investor emotions for two main reasons.   Returns are more stable.   Real estate, we sidestep this emotional roller coaster. Not only do we have stable prices, but appreciation is one of just 5 ways that you're simultaneously paid.   RE also has monthly income. Dutch tulips or Beanie Babies don't pay you a durable monthly income stream. They don't provide an income stream at all.   And finally, RE is a REAL asset that fulfills a REAL human need.   I hope that you enjoyed this journey through speculative bubbles today and how they play into human psychology and investor emotions.   Go ahead and tell a friend about Get Rich Education.   If you've got a friend or family member that you think would benefit from the knowledge drops here on the show, you can simply tell them to grab the free Get Rich Education mobile app.   That's a convenient option for listening every week for both iOS and Android.   My name's Keith Weinhold and I'll be back with you right here… next week. Don't Quit Your Daydream!

1799. April… May… June… Three months in which the Austrians and the Russians make sweeping Italian gains... Beleaguered French forces find themselves clinging on in Syria against the Ottomans… And in India Tippu Sultan meets a grisly end at the hands of the British. This is episode 30 of the Napoleonic Quarterly - covering three months of bloodshed and tensions as the empires fight back. [08:25] - Headline developments, with thanks to Josh Provan. Video version: https://www.facebook.com/100064278330452/videos/1420607152055841 [16:43] - Short mini-segment on 'Nelson's war crime' [23:13] - David Hollins on the fighting in north Italy and Switzerland [49:33] - Charles Mackay on the Battle of Mt Tabor [1:05:22] - Josh Provan on the fall of Seringapatam

Sleep will be easy as you learn about historical scams Memoirs of Extraordinary Popular Delusions — Volume 1 by Charles Mackay People fall for scams and misinformation on social media all the time. But even without the internet people used to get scammed and follow unfortunate trends to personal and social ruin. We pick up this week on the French speculation on the output of colonial territories in the reginal era. While it is quite fascinating, it's also very dry so the way I tell you these events will have you sleeping and snoozing very soon. Story (03:30) Need help with a Podcast? As you know I left my job at the end of July to spend more time with my family. To earn a living, I have started a company to edit and produce podcasts. From basic podcast edits to full handling of all post-production tasks including show notes and publication. I've even found that doing all of the work setting up a podcast for clients is quite popular. It's not hard, just time consuming for busy people with other work to prioritise.  So if you or someone you know needs a podcast edited or any podcast admin done, drop me a line at dave@brightvoxaudio.com or check out my site at https://brightvoxaudio.com/ Episode edits start at $15, lock in introductory pricing now! SleepPhones, our exciting new partnership In our experience the best way to experience the bedtime stories of Sleepy Time Tales is with some type of headphone or earbud, but they can be cumbersome and uncomfortable. So we've partnered SleepPhones, manufacturers of headphones designed specifically to sleep in! They use a thin speaker fitted to a comfortable headband and have options from the cost effective wired headphones to the convenient Bluetooth model and will work with Sleepy Time Tales to improve your night's sleep. Use the below link to shop, and support Sleepy Time Tales https://sleepytimetales.net/sleepphones Sleepy Time Tales Merch and Stuff I've been putting up a lot of new designs on Teepublic Not all of the designs are Sleepy Time Tales branded, actually most aren't, so you can support the podcast without needing to emblazon the logo on yourself.

Charles Mackay, known to Napoleonic Twitter by his brilliant soubriquet @BubblesVampire, had his PhD on Napoleonic nearly-man Andoche Junot supervised by the late great Donald D. Horward. We'll be hearing from Charles on the latest goings-on in Egypt in episodes 30 and 31, but hear he is talking us through the life of a complicated, wounded, not-always-likeable personality. Given Junot's multiple head wounds, and h is habit of self-medicating on opium and alchool, it is perhaps remarkable he accomplished as much as he did before his demons overtook him.

In the second of a two-part episode on Charles Mackay Black Sheep investigates the mysteries surrounding the Whanganui Mayor's attempted murder of D'Arcy Cresswell - a former soldier who threatened to out the Mackay as homosexual if he didn't resign the mayoralty. 

For more than 50 years the name of Mayor Charles Mackay was all but forbidden in Whanganui. In 1920 Mackay shot a man through the chest after he threated to expose the mayor's homosexuality. RNZ's Black Sheep podcast investigates the downfall of Charles Mackay, and how his story is being reevaluated in modern New Zealand.

The wildly unpredictable, yet loyal, General Junot stuck by Napoleon through thick and thin but ultimately flamed out before the end of the Empire. What happened to this mercurial near-Marshal? Find out in this episode with special guest Charles Mackay. --- Support this podcast: https://anchor.fm/generalsandnapoleon/support

Memoirs of Extraordinary Popular Delusions — Volume 1 by Charles Mackay We pick up with the financial resurrection of Regency period France, but the bubble is about to burst. Is the tension building, or are you drifting away to sleep? Happy sleeping.

The Dutch tulip bulb market bubble, also known as tulipmania, was one of the most famous market bubbles and crashes of all time. It occurred in Holland during the early to mid-1600s, when speculation drove the value of tulip bulbs to extremes. At the market's peak, the rarest tulip bulbs traded for as much as six times the average person's annual salary.Today, the story of tulipmania serves as a parable for the pitfalls that excessive greed and speculation in investing can lead to, but was the story true?In today's video we look at the story of Tulip Mania as told by Charles Mackay in his book Extraordinary Popular Delusions and the Madness of Crowds, and learn that Charles Mackay was maybe not as good as you might expect at spotting bubbles.Patrick's Books:Statistics For The Trading Floor:  https://amzn.to/3eerLA0Derivatives For The Trading Floor:  https://amzn.to/3cjsyPFCorporate Finance:  https://amzn.to/3fn3rvCPatreon Page: https://www.patreon.com/PatrickBoyleOnFinanceVisit our website: www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoylePatrick Boyle YouTube Channel Support the show

Recorded before an audience at the Bristol Festival of Economics (11/17/2022) The Dutch went so potty over tulip bulbs in the 1600s that many were ruined when the inflated prices they were paying for the plants collapsed - that's the oft-repeated story later promoted by best-selling Scottish writer Charles Mackay. It's actually a gross exaggeration.  Mackay's writings about economic bubbles bursting entertained and informed his Victorian readers - and continue to influence us today - but how did Mackey fare when faced with a stock market mania right before his eyes? The railway-building boom of the 1840s showed he wasn't so insightful after all.  For a full list of sources used in this episode visit Tim Harford.comSee omnystudio.com/listener for privacy information.

How do you feel about investing?   This week, Ash talks with Timothy Skyes is a penny stock trader and teacher who became a millionaire by the age of 22 by trading his bar mitzvah money. He is the co-founder of Karmagala, a social charity community. Timothy is here to share how to invest wisely and give back.   Investing is about more than the hot tips or trendy stocks, Timothy has studied investing for years and has broken down clear rules and advice on creating more with your money.    This episode isn't all about making money, Timothy and Ash dive into ways to give back, how to find charities that do good things with what you give and how powerful giving back is for your own life. Money IS a gift. Enjoy giving it, my friend.   In This Episode, You'll Learn: The rules to navigate the stock market and invest wisely. How to balance passion, sacrifice, and health in life. A strategy for giving back to charities within your community. How to turn your bucket list into your reality.   Resources How To Make Money in Stocks by William O'Neil Extraordinary Popular Delusions and The Madness of Crowds by Charles Mackay https://www.charitynavigator.org/ Where to Find Timothy Sykes: https://www.timothysykes.com/ Check Out His Youtube Channel  https://www.youtube.com/channel/UCoSG43KFjTe0trsteSQ46Ng Get His Book: An American Hedge Fund   Ready for wellness activation of your mind and body? Get the 7-day Wellness Reset (in Chocolate, Vanilla & Vegan options) Visit ashleystahl.com/reset and subscribe for 15% off + Shipping perks!   SOUL CBD Here is something just for you to sleep more deeply, reduce stress and heal anxiety.  Visit ashleystahl.com/soul and use the code YOUTURN at checkout for 15% off your order!   Connect with Ash: https://www.instagram.com/ashleystahl/ Take a FREE Quiz to Discover Your Most Authentic Career Path: https://www.ashleystahl.com/freequiz/

Kiran Dass reviews Downfall: The Destruction of Charles Mackay by Paul Diamond, published by Massey University Press

Memoirs of Extraordinary Popular Delusions — Volume 1 by Charles Mackay Story for Relaxation and Sleep, ASMR Get your rest as you fall asleep learning this week about financial events in post-revolutionary France, and how everyone fell for get rich schemes. Story (05:12) Need help with a Podcast? As you know I left my job at the end of July to spend more time with my family. To earn a living, I have started a company to edit and produce podcasts. From basic podcast edits to full handling of all post-production tasks including show notes and publication. I've even found that doing all of the work setting up a podcast for clients is quite popular. It's not hard, just time consuming for busy people with other work to prioritise.  So if you or someone you know needs a podcast edited or any podcast admin done, drop me a line at dave@brightvoxaudio.com or check out my site at https://brightvoxaudio.com/ Episode edits start at $15, lock in introductory pricing now! SleepPhones, our exciting new partnership In our experience the best way to experience the bedtime stories of Sleepy Time Tales is with some type of headphone or earbud, but they can be cumbersome and uncomfortable. So we've partnered SleepPhones, manufacturers of headphones designed specifically to sleep in! They use a thin speaker fitted to a comfortable headband and have options from the cost effective wired headphones to the convenient Bluetooth model and will work with Sleepy Time Tales to improve your night's sleep. Use the below link to shop, and support Sleepy Time Tales https://sleepytimetales.net/sleepphones Sleepy Time Tales Merch and Stuff I've been putting up a lot of new designs on Teepublic Not all of the designs are Sleepy Time Tales branded, actually most aren't, so you can support the podcast without needing to emblazon the logo on yourself.

In 1920 Whanganui residents were rocked by the news that their mayor had shot D'Arcy Cresswell, a young gay poet, who had been blackmailing him. Mackay was sentenced to hard labour and later left New Zealand, only to be shot during street unrest in Berlin during the rise of the Nazis.

Charles Mackay was mayor of Whanganui from 1906 to 1920. His tenure and name were all but erased from history when it emerged he was gay and shot a returned soldier who was attempting to blackmail him over his sexuality.

Memoirs of Extraordinary Popular Delusions — Volume 1 by Charles Mackay Sleep will be very tempting as we follow the life and times of a dilettante man about town through ruin, fortune and landing on his feet. We also learn about the last Kings of France, the mechanisms of Tax farming that led to the French Revolution, and charming aristocrats as they move through the end of an era. But none of it is interesting enough to keep you awake in the dark as you start to drift off to sleep. Story (07:21) (04:49) SleepPhones, and a discount code In our experience the best way to experience the bedtime stories of Sleepy Time Tales is with some type of headphone or earbud, but they can be cumbersome and uncomfortable. Our partners at SleepPhones agree and are offering Sleepy Time Tales listeners a 10% discount on purchases of $99.95 or more. Use the link below and discount code SLEEPYTIME at checkout to get your discount. This is a limited time offer, so don't sleep on it (sorry notsorry) To check them out go to sleepphones.sleepytimetales.net to check them out and support Sleepy Time Tales. And don't forget to use the promo code SLEEPYTIME to get 10% off any purchase of $99.95 or more. New Merch Store!! I've partnered with TeePublic to setup a new merch store. But because I'm no visual artist I'm taking advantage of a great TeePublic feature that allows me to share the works of other creators; expose them to my audience, allow their work to be purchased, and receive a small cut myself. Check out the storefront at https://www.teepublic.com/stores/sleepy-time-tales?ref_id=25247 or go directly to store.sleepytimetales.net or merch.sleepytimetales.net. I'd also like to issue a call. Any listeners with works up on TeePublic, please feel free to let me know and I'll look at adding your stuff to my store. No promises, but I do have a few thousand monthly listeners, so that may help give you a boost.   Find Memoirs of Extraordinary Popular Delusions — Volume 1 by Charles Mackay https://www.gutenberg.org/ebooks/636 Supporting Sleepy Time Tales If you would like to support my work and help keep the podcast available and for free, there are several ways you can support the show. You can support the show as a supporter on Patreon and receive a host of bonuses including Patron only episodes and special edits https://www.patreon.com/sleepytimetales If you're enjoying Sleepy Time Tales and would like to make a financial contribution, but would rather not commit to a monthly payment then you can throw a tip in the jar at me/sleepytimetales Get yourself a set of SleepPhones, headphones designed specially for your needs as an insomniac who likes to listen to something to help you sleep, take a look at https://www.sleepphones.com/?aff=740 or sleepytimetales.net Or check out our new Merch store up at TeePublic where you can buy Sleepy Time Tales merch or even cool works from other creators. Go to sleepytimetales.net Treat yourself to a free audiobook to keep from Audible's significant range, and help Sleepy Time Tales to keep the lights on and grow. Go to com/sleepytime and sign up for a free 30-day trial. Patreon $5 Patrons Jessica Sean O Abby F Chris & Moya Felicity R Michaela Barcode Adam Tim Joni Callan Mysti Terri Roberta Deborah   Please Share If you're enjoying the show, and finding it helps you sleep despite the stresses and strains of your life, the absolute best thing you can do is share it with your friends, families, acquaintances, cellmates etc. Anyone who needs a good night's sleep might benefit. So please share it with the people in your life, whether in person or on social media. Find The Show Website: sleepytimetales.net Patreon: https://www.patreon.com/sleepytimetales Twitter: https://twitter.com/sleepytimetales Facebook: https://www.facebook.com/sleepytimetalespodcast/ YouTube: https://www.youtube.com/channel/UC8gG5z50RjyiJ0_YXeQJpbg Merch: merch.sleepytimetales.net Music: http://loyaltyfreakmusic.com/ Project Gutenberg Terms of Use https://www.gutenberg.org/wiki/Gutenberg:Terms_of_Use  

Subscribe Apple | Google | Spotify | Stitcher | iHeart   Podchaser Leave a Review   Support The Daily Gardener Buy Me A Coffee   Connect for FREE! The Friday Newsletter |  Daily Gardener Community   Friends of the Garden Meeting in Athens, Georgia Register Here   Historical Events 1814 Birth of Charles MacKay, Scottish poet, writer, and songwriter. In The Collected Songs of Charles Mackay, Charles wrote a song about the Meadow Sweet: Rose! We love thee for thy splendor, Lily! For thy queenly grace! Violet! For thy lowly merit, Peeping from thy shady place! But mine airy, woodland fairy, Scattering odors at thy feet, No one knows thy modest beauty, No one loves thee, Meadow-Sweet!   1851 Birth of Alice Morse Earle (books by this author), American historian and author. Alice wrote two garden books: Old Time Gardens (1901) and Sun Dials and Roses of Yesterday (1902). Alice wrote, Farm children have little love for nature and are surprisingly ignorant about wildflowers save a few varieties. The child who is garden bred has a happier start in life, a greater love and knowledge of nature. On the peony, Alice wrote: [She] always looks like a well-dressed, well-shod, well-gloved girl of birth, breeding, and of equal good taste and good health; a girl who can swim, and skate, and ride, and play golf.   1902 Birth of Thomas “Tommy” Dolliver Church (books by this author), California landscape architect. Tommy pioneered the modern California Style design style. In 1955, Tommy wrote, When your garden is finished I hope it will be more beautiful than you anticipated, require less care than you expected, and have cost only a little more than you had planned. Unlike people, gardens never strive for perpetual youth—they want to look old from the day they were born. Their greatest glory comes with maturity.   1904 Birth of Cecil Day-Lewis (books by this author), Irish-born British poet. He used the pen name Nicholas Black for his mystery stories. Cecil was the Poet Laureate for four years before his death in 1972. He was also the father of actor Sir Daniel Day-Lewis. In Cecil's Overtures to Death and Other Poems (1938), In June we picked the clover, And sea-shells in July: There was no silence at the door, No word from the sky. A hand came out of August And flicked his life away: We had not time to bargain, mope, Moralize, or pray.   Grow That Garden Library™ Book Recommendation The Food Forest Handbook by Darrell Frey and Michelle Czolba This book came out in 2017, and the subtitle is Design and Manage a Home-Scale Perennial Polyculture Garden. Before I even get started with my review, I have to say that this book gets high praise on Amazon; it's a five-star book. The authors are passionate about growing food year-round - without fossil fuels - and increasing biodiversity on the land and wild market gardening. In the introduction to their book, Darryl and Michelle point out that the food forest is one of the oldest ways to garden. It's the edges of the forest that were the most fruitful places for both hunting and gathering. And today, food forests are making a comeback. Now you might be asking yourself, what is a food forest? Well, a food forest is simply a food-producing garden that's built around trees and perennials. I've been a passionate fan of orchards and mini orchards for the past couple of years. I'm installing one up at my cabin, planting even more trees this spring. Darryl and Michelle point out that, A well-managed food forest is an integrated system and it includes all kinds of plants, fruits, vegetables, herbs, medicinal plants, and plantings that promote beneficial insects and balanced nutrients. And in case you're starting to feel a little overwhelmed. Don't be. Because these food forests can be simple and include only a few species, or they can contain a myriad of plants. The bottom line here is that Darryl and Michelle will help you feel confident and inspired to create your own food forest, whether on a small or grand scale in your backyard, front yard, patio, or allotment. This book is 256 pages of planning, designing, and managing your very own food forest. You can get a copy of The Food Forest Handbook by Darrell Frey and Michelle Czolba and support the show using the Amazon link in today's show notes for around $20.   Botanic Spark 1920 Birth of Edwin George Morgan (books by this author), Scottish poet and translator associated with the Scottish Renaissance. He is remembered as one of the foremost Scottish poets of the 20th century. In 1999, Edwin became the first Glasgow Poet Laureate.  In 1968, Edwin wrote, Yes, it is too cold in Scotland for flower people; in any case who would be handed a thistle?   Thanks for listening to The Daily Gardener And remember: For a happy, healthy life, garden every day.

Andrew For America discusses the crimes of the intelligence community, the coming "dollar exit," and how the governments of the world are beginning to visibly tyrannize their people through forced vaccination programs, soon to be implemented austerity measures, and "sanctioned" scarcity. Andrew also introduces and recommends the book, "Extraordinary Popular Delusions and The Madness of Crowds" by Charles Mackay. The song selections are the songs, "Media Circus" and "Gutter Blues" by the band Smash TV. --- Support this podcast: https://anchor.fm/andrew-foramerica/support

I'm talking with author Natalie Bickel about The Polar Express, as well as updating you all on the reading prompt for April, a listener memory, and I read and talk about a poem called "Under the Holly Bough" by Charles Mackay. Grab your hot cocoa and let's ride the Polar Express! Natalie and I still hear the bell ring on Christmas - do you? Nat Bickel: https://www.natmosfear.com   The Christmas Clue (Amazon)   The Christmas Clue (Bookshop.org affiliate link)         Books about Travel: The Last Song by Nicholas Sparks The Hazelwood by Melissa Albert The Sister Season by Jennifer Scott  #christmas #podcast #books   Ways to support the show: Rate and review: https://podcasts.apple.com/us/podcast/a-cozy-christmas-podcast/id1523423375  Buy me a coffee? www.ko-fi.com/cozychristmas  Ornaments, Mugs, and Notebooks: https://www.etsy.com/shop/CozyChristmasPodcast  Logo shirt designs: http://tee.pub/lic/edygC_h4D1c    Contact Me: facebook: https://www.facebook.com/cozychristmaspodcast  instagram: https://www.instagram.com/cozychristmaspodcast/  twitter: https://twitter.com/CozyXmasPod  youtube: https://www.youtube.com/channel/UCCikiozEbu0h9pKeI1Ei5TQ email: cozychristmaspodcast@gmail.com   Email bookshelfodysseypodcast@gmail.com

First published in 1841, Extraordinary Popular Delusions and the Madness of Crowds is often cited as the best book ever written about market psychology. This Harriman House edition includes Charles Mackay's account of the three infamous financial manias - John Law's Mississipi Scheme, the South Sea Bubble, and Tulipomania. Between the three of them, these historic episodes confirm that greed and fear have always been the driving forces of financial markets, and, furthermore, that being sensible and clever is no defence against the mesmeric allure of a popular craze with the wind behind it. In writing the history of the great financial manias, Charles Mackay proved himself a master chronicler of social as well as financial history. Blessed with a cast of characters that covered all the vices, gifted a passage of events which was inevitably heading for disaster, and with the benefit of hindsight, he produced a record that is at once a riveting thriller and absorbing historical document. A century and a half later, it is as vibrant and lurid as the day it was written. For modern-day investors, still reeling from the dotcom crash, the moral of the popular manias scarcely needs spelling out. When the next stock market bubble comes along, as it surely will, you are advised to recall the plight of some of the unfortunates on these pages, and avoid getting dragged under the wheels of the careering bandwagon yourself.

Episode: 2186 Lost beauty of old words: nostalgia thwarted a flood of new books.  Today, language slips away from us.

Workshop tour and show & tell by Richard Minsky

"In the world there will be made a king who will have little peace and a short life." -Nostradamus The left is almost entirely devoid of principles. First black (insert job)? Don't care at all. Bad past = indefinitely evil? Nah. First woman (insert job)? No again. They pretend to have these principles until they inhibit leftwing power, at which time they drop them instantly. “Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, one by one.” -Charles MacKay

“In reading The History of Nations, we find that, like individuals, they have their whims and their peculiarities, their seasons of excitement and recklessness, when they care not what they do. We find that whole communities suddenly fix their minds upon one object and go mad in its pursuit; that millions of people become simultaneously impressed with one delusion, and run after it, till their attention is caught by some new folly more captivating than the first.”  -Charles MacKay   A man murdered at least 5 Christmas celebrants in Wisconsin by hitting them with his car.  He ran over a woman earlier in the month, on purpose, but his bail was set at just $1000 by a progressive DA who boasted of efforts to "reduce racial disparities in the system" and the "commitment to not keeping individuals held."  Will the left ever stop enabling savage cruelty? "For three days we entertained and feasted, and they went out and killed five deer, which they brought to the plantation and bestowed on our governor, and upon the captain, and others.  And although it be not always so plentiful, as it was at this time with us, yet by the goodness of God, we are so far from want..."  -Edward Winslow:  11 December 1621

Is investing the same as gambling? Bill and Anastasia dive into a topic that has come up in separate conversations with millennials about cryptocurrency trading. They start by defining investing, gambling, and speculating, then launch into a discussion of casino gambling, sports betting, why people may conflate investing with gambling, and why the rise of Bitcoin seems to be affecting how millennials view the stock market. Anastasia discusses risk tolerance and the importance of beating inflation. Bill provides long-term perspective on speculative bubbles and his thoughts on the bull market we've been living in since 2009.  For more information: -If you have not listened to Creating Wealth's two-parter on Cryptocurrency Explained or Risk Tolerance, these make good companion episodes to this one. -Bill also highly recommends two books:  Reminiscences of a Stock Operator by Edwin Lefevre and Extraordinary Popular Delusions and Madness of Crowds by Charles Mackay. For questions and comments, you can email us at askcreatingwealth@taberasset.com.

This episode is also available as a blog post: http://quiteaquote.in/2020/11/30/charles-mackay-herds/ --- Send in a voice message: https://anchor.fm/quiteaquote/message

Den vollständigen Tagesdosis-Text (inkl. ggf. Quellenhinweisen und Links) findet ihr hier: https://kenfm.de/vom-wahren-kampf-von-ruediger-lenz Ein Kommentar von Rüdiger Lenz. Du hast keine Feinde, sagst Du? Ach, mein Freund, Dein Prahlen ist armselig. Wer sich ins Gefecht der Pflicht verstrickt, das die Tapferen erdulden, muss sich Feinde schaffen! Wenn Du keine hast, ist die Arbeit, die Du geleistet hast, gering. Du hast keinen Verräter entlarvt, Hast niemanden für einen Meineid bestraft, Du verhalfst keinem zu seinem Recht, Du warst ein Feigling im Gefecht. Charles Mackay (1814 – 1889) Einzig der Wahrheit folgen Wer den guten und lieben Kampf im Gefecht des Lebens zu kämpfen versteht, kommt niemals höher als bis zum Olymp. Dort bekommst du dann dafür deine Medaillen und Auszeichnungen und du denkst, Heureka, was habe ich doch alles im Leben geschafft! Das alles sind Lügengebäude, der sportliche Wettkampf bis hin zum Gold. Es ist ein Erziehungsmittel für die Gesellschaft, damit möglichst viele von uns im Wetteifer, im Wettkampf und Wettbewerb bleiben und denken, dass es sich dabei um das ganz normale Leben handelt. Lange Zeit war ich einer von diesen Leistungssportlern und wurde mit Pokalen, Medaillen und Urkunden überhäuft. Im Kampfsport hatte ich es bis nach ganz oben geschafft, so dachte ich damals, was sich zwanzig Jahre später als Irrtum herauszustellen begann. Und das Schöne an diesem Irrtum war, dass ich ihn selbst herausfand und der Wahrheit und nicht meinem Weltbild folgte. ... hier weiterlesen: https://kenfm.de/vom-wahren-kampf-von-ruediger-lenz +++ Jetzt KenFM unterstützen: https://de.tipeee.com/kenfm Dir gefällt unser Programm? Informationen zu weiteren Unterstützungsmöglichkeiten hier: https://kenfm.de/support/kenfm-unterstuetzen/ Du kannst uns auch mit Bitcoins unterstützen. Bitcoin Account: https://commerce.coinbase.com/checkout/1edba334-ba63-4a88-bfc3-d6a3071efcc8 +++ Abonniere jetzt den KenFM-Newsletter: https://kenfm.de/newsletter/ +++ KenFM jetzt auch als kostenlose App für Android- und iOS-Geräte verfügbar! Über unsere Homepage kommt Ihr zu den Stores von Apple und Google. Hier der Link: https://kenfm.de/kenfm-app/ +++ Website und Social Media: https://www.kenfm.de https://www.twitter.com/TeamKenFM https://www.instagram.com/kenfm.de/ https://soundcloud.com/ken-fm https://t.me/KenFM See acast.com/privacy for privacy and opt-out information.

David DeRosa, author of “Bursting the Bubble: Rationality in a Seemingly Irrational Market,” a new monograph from the CFA Institute Research Foundation, discusses his conclusions on whether speculative bubbles exist in the stock market.   ▶️ Subscribe to the Take 15 Podcast YouTube channel: https://www.youtube.com/channel/UCA3HUMuK4FSp_CvQH_2Ji7g?app=desktop   

Today we celebrate a Harlem poet who loved children and flowers. We'll also learn about a newspaperman who wrote a fantastic essay about a harbinger of spring: the skunk cabbage. We’ll hear some thoughts on how to start a garden. We Grow That Garden Library™ with an extraordinary book that takes us on a tour of brilliantly curated plant life. And then we’ll wrap things up with a little obscure verse about the language of trees.   Subscribe Apple | Google | Spotify | Stitcher | iHeart To listen to the show while you're at home, just ask Alexa or Google to “Play the latest episode of The Daily Gardener Podcast.” And she will. It's just that easy.   The Daily Gardener Friday Newsletter Sign up for the FREE Friday Newsletter featuring: A personal update from me Garden-related items for your calendar The Grow That Garden Library™ featured books for the week Gardener gift ideas Garden-inspired recipes Exclusive updates regarding the show Plus, each week, one lucky subscriber wins a book from the Grow That Garden Library™ bookshelf.   Gardener Greetings Send your garden pics, stories, birthday wishes, and so forth to Jennifer@theDailyGardener.org   Curated News Removing Deadwood Makes For Happier, Healthier Shrubs And Trees — Here’s How To Know If Branches Are Still Alive | The Chicago Tribune | Beth Botts   Facebook Group If you'd like to check out my curated news articles and original blog posts for yourself, you're in luck. I share all of it with the Listener Community in the Free Facebook Group - The Daily Gardener Community. So, there’s no need to take notes or search for links. The next time you're on Facebook, search for Daily Gardener Community, where you’d search for a friend... and request to join. I'd love to meet you in the group.   Important Events February 1, 1902 Today is the birthday of the American poet, social activist, novelist, playwright, and columnist Langston Hughes. Langston was one of the leading voices of the 1920s. He was also part of the Harlem Renaissance Cultural Movement, and for the last twenty years of his life, Langston lived on the top floor of a Brownstone on 127th Street. And when Langston lived in Harlem, everyone knew which house was his - because it was the one covered in Boston Ivy. Langston loved the look of the Ivy, and it was planted at his request. Langston was just 5 feet and 4 inches tall, and he reportedly saw the world through the wonder-filled eyes of a child. Langston's outlook no doubt helped him relate to kids, and he loved being around children. One of the most charming details I learned about Langston was the little garden that he kept near the front steps of his home. Langston called the garden "Our Block's Children's Garden," and with the neighborhood kids there to help, he filled it with nasturtiums, asters, and marigolds. And all the neighbor kids were in charge of the watering and weeding. And if you search for Langston’s garden online, you’ll find an adorable photo of Langston from 1955 - he’s surrounded by kids (one of them is holding a watering can), and they are kneeling behind a white picket fence. On the fence pickets is a round sign that says, “Our Block’s Children’s Garden,” along with the names of 26 children. As for his writing, Langston always said that Harlem was his muse. Langston’s poem, Poet to a Bigot, is still timely, and the last line will find purchase with gardeners. I have done so little For you, And you have done so little For me, That we have good reason Never to agree. I, however, Have such meager Power, Clutching at a Moment, While you control An hour. But your hour is A stone. My moment is A flower.   February 1, 1916  On this day, the American newspaper editor, essayist, short story writer, and poet, Ben Hur Lampman, moved to Portland and began working for The Oregonian. On March 2, 1942, Ben wrote an article defending a harbinger of spring, the Skunkweed or Eastern Skunk Cabbage (Symplocarpus foetidus), that appeared in the Medford, Oregon newspaper. In this magnificent piece, Ben compares the yellow bloom of the Skunk Cabbage to a candle. “What a flower [the Skunk Cabbage] is, to be sure. When it lifts to burn coolly in the swampy wayside, there are few wayfarers who do not exclaim to see it.  There seems to be something votive about it, as perhaps there is. The reason one is sure that people care about it... is simply because they must. There is no other choice; for the elder law is that people must always care about beauty. A Skunk Cabbage [is a] kind of calla lily, and though its odor is faintly mephitic, you don't have to sniff it. It may be supposed that the farmer who tends the cattle thinks he has little use for a Skunk Cabbage if he meditates in the least on its utility - but if ever the year should come when the golden, cool candles were not kindled, the farmer would be first to remark this and worry about it. For a farmer can't plow, and a farmer can't plant until the Skunk Cabbage is up everywhere.”   Unearthed Words As with most occupations, there are different ways to approach the garden. The absolutely right way to start a garden, for instance, is to bulldoze your whole yard, then, according to a friend of mine, a brilliant (if obsessive gardener), spend some time in it naked in the middle of the night, wandering around looking for microclimates — those slightly warmer or slightly cooler pockets of air that hover over even a tiny tract of land. After that, you start measuring and marking with stakes and string the beds and borders, and enrich the soil with different things depending on what you’re going to plant where, after installing a complicated and expensive underground sprinkling system. Meanwhile, months ago, you made careful lists of new and replacement plants you needed and ordered them all from the catalogs, early enough to make sure you got what you wanted. You’ve also been germinating and grafting plants for weeks in your greenhouse or electrically heated cold frames so that everything will be ready at the right moment, gauging by the last frost date plus a few extra days to be on the safe side, to plant outside in an orderly blooming sequence. You are armed and ready for spring. Perhaps a less desirable but still reasonably effective, way to start a garden is to notice one day that the weather is sunny and fine and to think that it might be fun to plant a few things and see what happens. — Cheryl Merser, American gardener and author, A Starter Garden, How to Start a Garden   Grow That Garden Library Botanicum by Kathy Willis  This book came out in 2017, and the subtitle is Welcome to the Museum. Designed to teach students, this oversized coffee-table book offers the chance to walk through a curated guide to plant life - and the entire experience is stunning. Katie Scott of Animalium fame provides the extraordinary artwork, which you can see even on the cover of the book - which is why it has a standing spot on the coffee table in my botanical library. The author, Kathy Willis, is the director of science at the Royal Botanic Gardens in Kew, England. And so, Kathy had the perfect background to create Botanicum, which shares a worldwide collection of diverse plant life - from perennials to exotics. In addition to the artwork, Botanicum reviews botanical scientific knowledge, including cross-sections of how plants work. As a virtual museum in book form, Botanicum features more than 160 captivating exhibits. This book is 112 pages of botanical knowledge brought to life in a virtual museum - complete with cross-sections - called Botanicum. You can get a copy of Botanicum by Kathy Willis and support the show using the Amazon Link in today's Show Notes for around $21   Today’s Botanic Spark Reviving the little botanic spark in your heart We’re in the grips of winter now, and the trees dominate the landscape. I thought I’d close today's show with a little poem about trees that I stumbled upon doing some tree research. We’re learning more and more about trees thanks to folks like the great German forester and author Peter Wollhenben and his book The Hidden Life of Trees: What They Feel, How They Communicate―Discoveries from A Secret World. Anyway, this little obscure poem is from the Scottish poet Charles MacKay, and it seemed like an excellent way to end the show for this first day of February. I heard the language of the trees, In the noons of the early summer, As the leaves were moved like rippling seas  By the wind - a constant comer. It came and it went at its wanton will, And evermore loved to dally  With branch and flower, from the cope of the hill  To the warm depths of the valley. The sunlight glowed; the waters flowed; The birds their music chanted, And the words of the trees on my senses fell, By a Spirit of Beauty haunted: Said each to each, in mystic speech, The skies our branches nourish; The world is good — the world is fair, Let us enjoy and flourish! Again I heard the steadfast trees; The wintry winds were blowing; There seemed a roar as of stormy seas, And of ships to the depths down-going. And ever a moan through the woods was blown, As the branches snapped asunder, And the long boughs swung like the frantic arms  Of a crowd in affright and wonder. Heavily rattled the driving hail; And storm and flood combining, Laid bare the roots of mighty oaks  Under the shingle twining. Said tree to tree, “These tempests free  Our sap and strength shall nourish; Though the world be hard, though the world be cold, We can endure and flourish.” — Charles MacKay, Scottish poet, The Language of the Trees   Thanks for listening to The Daily Gardener. And remember: "For a happy, healthy life, garden every day."

In 1759, ghostly rappings started up in the house of a parish clerk in London. In the months that followed they would incite a scandal against one man, an accusation from beyond the grave. In this week's episode of the Futility Closet podcast we'll tell the story of the Cock Lane ghost, an enduring portrait of superstition and justice. We'll also see what you can get hit with at a sporting event and puzzle over some portentous soccer fields. Intro: In 1967 British artists Terry Atkinson and Michael Baldwin offered a map that charts its own area. In 1904 Henry Hayes suggested adding fake horses to real cars to avoid frightening real horses. Sources for our feature on the Cock Lane Ghost: Douglas Grant, The Cock Lane Ghost, 1965. Oliver Goldsmith, "The Mystery Revealed," in The Works of Oliver Goldsmith, Volume 4, 1854. James Boswell, The Life of Samuel Johnson, LL.D., Volume 1, 1791. Charles MacKay, Memoirs of Extraordinary Popular Delusions and the Madness of Crowds, 1852. Andrew Lang, Cock Lane and Common-Sense, 1894. Roger Clarke, A Natural History of Ghosts: 500 Years of Hunting for Proof, 2012. Henry Addington Bruce, Historic Ghosts and Ghost Hunters, 1908. Jennifer Bann, "Ghostly Hands and Ghostly Agency: The Changing Figure of the Nineteenth-Century Specter," Victorian Studies 51:4 (Summer 2009), 663-685, 775. Gillian Bennett, "'Alas, Poor Ghost!': Case Studies in the History of Ghosts and Visitations," in Alas Poor Ghost, 1999, 139-172. Richard Whittington-Egan, "The Accusant Ghost of Cock Lane," New Law Journal 141:6487 (Jan. 18 1991), 74. Howard Pyle, "The Cock Lane Ghost," Harper's New Monthly Magazine 87:519 (August 1893), 327-338. María Losada Friend, "Ghosts or Frauds? Oliver Goldsmith and 'The Mystery Revealed,'" Eighteenth-Century Ireland / Iris an dá chultúr 13 (1998), 159-165. H. Addington Bruce, "The Cock Lane Ghost," New York Tribune, July 14, 1907. "The Cock Lane Ghost," Warwick [Queensland] Argus, Dec. 22, 1900. "The Ghosts of London," New York Times, Sept. 10, 1900. "The Cock-Lane Ghost," [Sydney] Evening News, Aug. 25, 1894. "The Cock Lane Ghost," Maitland [N.S.W.] Weekly Mercury, March 10, 1894. "The Rochester Ghost," Alexandria [Va.] Gazette, April 27, 1850. Thomas Seccombe, "Parsons, Elizabeth [called the Cock Lane Ghost], (1749–1807)," Oxford Dictionary of National Biography, Sept. 23, 2004. Listener mail: "Death of Brittanie Cecil," Wikipedia (accessed Jan. 13, 2021). L. Jon Wertheim, "How She Died," Sports Illustrated, April 1, 2002. J. Winslow and A. Goldstein, "Spectator Risks at Sporting Events," Internet Journal of Law, Healthcare and Ethics 4:2 (2006). Steve Rosenbloom, "Hit by Puck, Girl Dies," Chicago Tribune, March 20, 2002. Tarik El-Bashir, "Girl Struck Puck Dies," Washington Post, March 20, 2002. Connor Read et al., "Spectator Injuries in Sports," Journal of Sports Medicine and Physical Fitness 59:3 (March 2019), 520-523. Bob Shepard, "Heads Up: UAB Does First-Ever Study of Spectator Injuries at Sporting Events," University Wire, Nov. 29, 2018. "Father of Girl Killed by His Errant Golf Ball Says: 'How It Happened, I Cannot Explain'," Associated Press, Sept. 21, 2019. Pat Ralph, "What Happens After 'Fore'? Injured Fans Face Legal Hurdles in Golf-Ball Lawsuits," Golf.com, Oct. 9, 2018. Marjorie Hunter, "Ford, Teeing Off Like Agnew, Hits Spectator in Head With Golf Ball," New York Times, June 25, 1974. "'First Off the Tee': White House Golf Tales," NPR, May 1, 2003. Todd S. Purdum, "Caution: Presidents at Play. Three of Them," New York Times, Feb. 16, 1995. "Ford, Bush Tee Off on Golf Spectators," Los Angeles Daily News, Feb. 16, 1995. Kevin Underhill, "Missouri Supreme Court Hears Hot-Dog-Flinging Case," Lowering the Bar, Nov. 13, 2013. Kevin Underhill, "Bad News for Dog-Flinging Mascots," Lowering the Bar, Jan. 16, 2013. Kevin Underhill, "Jury Clears Mascot in Hot-Dog-Flinging Case," Lowering the Bar, June 24, 2015. Listener Tim Ellis, his daughter, and an errant puck. This week's lateral thinking puzzle was contributed by listener Jesse Onland. Here's a corroborating link (warning -- this spoils the puzzle). You can listen using the player above, download this episode directly, or subscribe on Google Podcasts, on Apple Podcasts, or via the RSS feed at https://futilitycloset.libsyn.com/rss. Please consider becoming a patron of Futility Closet -- you can choose the amount you want to pledge, and we've set up some rewards to help thank you for your support. You can also make a one-time donation on the Support Us page of the Futility Closet website. Many thanks to Doug Ross for the music in this episode. If you have any questions or comments you can reach us at podcast@futilitycloset.com. Thanks for listening!

Extraordinary Popular Delusions and the Madness of Crowds (1841) is a remarkable compendium of mass hysterias, written by the Scottish curmudgeon Charles Mackay. Alasdair (half-Scottish curmudgeon) takes James on a tour of the stand-out fads, fancies and follies: from Dutch tulip-fanciers, via slow-poisoners, to some cracking haunted house scams. Brace yourself for chilling tales of faux-ghosts. (Fhosts.) Loreboys nether say die! Support the Loremen here (and get stuff): http://www.patreon.com/loremenpod ko-fi.com/loremen (http://www.ko-fi.com/Loremen) @loremenpod (https://twitter.com/loremenpod) http://www.twitch.tv/loremenpod www.instagram.com/loremenpod (https://www.instagram.com/loremenpod/) www.facebook.com/loremenpod (https://www.facebook.com/LoremenPod/) @JamesShakeshaft (https://twitter.com/JamesShakeshaft) | @MisterABK (http://www.twitter.com/misterabk)

Charles Mackay was a 19th century Scottish poet, journalist, author, anthologist, novelist, and songwriter, remembered mainly for his book Extraordinary Popular Delusions and the Madness of Crowds. --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app

WHANGANUI, MANAWATU. On the 15th of May 1920, Wanganui citizens were shocked by a crime that involved their elected Mayor. The crime was reported on later in the New Zealand Truth newspaper, “The evidence which was adduced makes the case one of the most sensational in the annals of the New Zealand courts. Indeed, it would be hard to imagine a more extraordinary sequence of happenings. Charles Mackay, in his public business life, was a popular and successful man, but there was another and hideous side to his nature -- a Jekyll as well as a Hyde to his character, and [Walter D'Arcy] Cresswell, a returned soldier, unmasked the debonair Mayor and discovered him to be another Oscar Wilde, morally unclean; a pursuer of perverted and putrid ‘pleasures'”. Visit www.truecrimenz.com for additional information on this case. Including a transcript of this episode, with supporting pictures, sources, and credits.

Have you ever had an occasion not to order or talk about a particular whisky, simply because you were a little concerned about your ability to pronounce it? In this episode, I'll help you get over your fear of mispronouncing scotch whisky names by showing you some simple examples and helping you understand the origins of these names. It will all lead to a fable about a whirlpool, a knight and a maiden performed by actor Tom Wylde. Charles MacKay's "The Kelpie of Corryvreckan."

Today we celebrate what I'm calling Dependence Day for Gardeners. We'll also learn about the gutta-percha pioneer - it's a fascinating story. We celebrate the California botanist who is remembered with a plant name and the name of a Canyon - and she was a tremendous conservationist. We also celebrate a botanist who is a sentimental favorite of mine - she died while collecting samples in the Western Himalayas almost eighty years ago today. We honor National Meadows Day - an annual celebration of the wildflower meadows of England - with some poetry. We Grow That Garden Library™ with a fiction book that was the Winner of the Man Asian Literary Prize, and the main character finds "solace among the jungle-fringed tea plantations of [the] Cameron Highlands," and she also meets some incredible gardeners. And then we'll wrap things up with the flowers for the birthday of President Calvin Coolidge - in 1924 one newspaper headline said, "Cal's Cool and 52". But first, let's catch up on some Greetings from Gardeners around the world and today's curated news.   Subscribe Apple | Google | Spotify | Stitcher | iHeart   Gardener Greetings To participate in the Gardener Greetings segment, send your garden pics, stories, birthday wishes and so forth to Jennifer@theDailyGardener.org And, to listen to the show while you're at home, just ask Alexa or Google to play The Daily Gardener Podcast. It's that easy.   Curated News Just moved? Build a Temporary Garden at Your New Home by Shawna Coronado "It's a smart plan to set up a temporary garden at your new home when you have just moved because you don't really understand the "lay of the land" in your garden yet. Understanding your garden takes at least a year. A YEAR!?!?! Yes. A year. An example of this is that the sunshine changes throughout your garden. In the winter, you might have the direct sun in some places, creating micro-climates, while in the summer, you could have the opposite. Understanding your sun, water, and other conditions on your property take a while."   No Independence Day for Gardener   (Click here to read my original blogpost)   Alright, that's it for today's gardening news. Now, if you'd like to check out my curated news articles and blog posts for yourself, you're in luck, because I share all of it with the Listener Community in the Free Facebook Group - The Daily Gardener Community. There's no need to take notes or search for links - the next time you're on Facebook, search for Daily Gardener Community and request to join. I'd love to meet you in the group.   Important Events 1804   Today is the birthday of the gutta-percha pioneer Henry Bewley who was born on this day in Dublin, Ireland. A trained chemist, Bewley began work manufacturing soda water. Bewley's work with soda got him in touch with Charles Hancock, who was eager to develop a stopper for bottles. Hancock's solution came to him in the form of gutta-percha - a tough, rubber-like substance that had been discovered in the sap of Malayasian trees and brought to England in the mid-1840s. After Hancock showed Bewley the gutta-percha, he set about inventing the machine that would extrude the gutta-percha into tubing, which would ultimately find a purpose in dentistry and as an insulator for electrical wiring. Although their partnership would not last, Bewley and Hancock formed the Gutta Percha Company in London on February 4, 1845. Twenty years later, Bewley's company was swept up in the merger that created The Telegraph Construction and Maintenance Company. Until the mid-1900s, it was gutta-percha that protected the transatlantic cables used for communication. The resin from gutta-percha was used to make all kinds of items like buckets and mugs, soles for shoes, bands for heavy equipment, buoys, and so forth. Early on, the uses for gutta-percha seemed endless - but its original use as tubing (thanks to Bewley) was vital for scientists and engineers working with wiring, liquids, and gases. Gardeners owed a debt of gratitude to Bewley. His gutta-percha tubing was perfect for this in-demand item called a garden hose. I thought you might enjoy hearing a little excerpt from this 1854 advertisement for gutta-percha. It features a testimony from a Mr. J. Farrah, the gardener to a successful attorney who lived on the estate known as Holderness House near Hull. "I have 400 feet of your gutta-percha tubing in lengths of 100 feet each [and  I have used them] for the past 12 months for watering these gardens, and I find it... better than anything I have ever yet tried. The pressure of the water is very considerable, but this has not the slightest effect on the tubing. I consider this tubing to be a most valuable invention for gardeners, as much as it enables us to water our gardens in about half the time and with half the labor formerly required."   1976   On the 4th of July in 1976, a very hot day to go hiking, botanist Mary Dedecker made her way back to a spot in the desert of California where she had discovered a new plant earlier in June of that same year. When DeDecker reached the shrub, she was stunned. She remembers seeing the plants in full bloom - a gold profusion - and fondly recalled, "It was just golden. All over the dark cliffs, these golden bunches of this shrub." Mary and her husband, Paul, lived in Independence for over five decades. Paul's job brought them to the town. Mary remembered, "It was a different world up here. My husband would fish in the Alpine lakes of the High Sierra, and I would sketch and make notes on plants. There was virtually no literature on the flora of the eastern Sierra." Mary and Paul's DeDeckera shrub became the only species in the brand new Dedeckera genus, which was the first newly discovered genus in California in almost three decades. The DeDecker's shrub, the Dedeckera eurekensis, is a member of the buckwheat family and is commonly referred to as July gold. It's a rare plant and is only found in California's Inyo and White Mountains. These mountains are remote, but they were well-known by Paul and Mary, who loved to explore the desert and found it utterly enchanting. They lived to see the naming of Dedeckera Canyon, which was a unique honor.  Believe it or not, there is a rule that geographic locations cannot be named after living people. In this case, the canyon was officially named after the Dedeckera plant genus named for Mary and Paul - but it clearly honored the couple all the same. It was a sneaky way to get around the rules. As a little girl, Mary learned to garden from her dad, who encouraged her to grow things. Her training as a botanist and her love of nature gave her the drive to search the desert floor on countless hikes in order to collect and catalog over 6,000 plant species. It's no wonder then that Mary successfully fought to preserve the Eureka Dunes, which are adjacent to the northwest corner of Death Valley. In Mary's lifetime, she was able to stop off-road vehicles from destroying the dunes. Regarding her three-decades-long fight, she said, "It was terribly frustrating. I was sick as I went out and watched [off-road vehicle users] tear up the place, spinning out the plants and seedlings, destroying animal habitats. They would be all over the dunes having the time of their lives, so unaware of the damage to the delicate and unique ecosystems. . . ." Much of her work involved researching the flowers of the dunes. Thanks to Mary, the Dunes became part of the over 500 nationally recognized natural landmarks in the United States. Mary DeDecker witnessed many impressive desert blooms during her lifetime. The beauty of the desert and the miraculous desert plant life never failed to hold her attention. Among her many published works, Mary was perfectly suited to write two books on California's desert flora. Today young botanists may be surprised to learn that Mary never received any formal training. Yet, Mary credited the help of countless botanists and the desert itself as her teachers. Through her devotion and fieldwork, Mary came to be regarded as one of the nation's top experts on plants of the northern Mojave Desert and Owens Valley. There is an interesting side note to Mary's story. In 1945, while on one of her desert hikes, Mary discovered the remains of a Japanese-American named Matsumura who had left the internment camp at Manzanar to go fishing with friends. He had been missing for one month when Mary discovered him. Authorities buried him in that spot, and then slowly, the world forgot about his resting place. For decades, people attempted to relocate his burial spot without any luck. His grave remained lost to time until it was re-discovered in 2019.   1939  The English botanist Lady Joan Margaret Legge ("LAY-gee") died after she slipped and fell while collecting samples in the Western Himalayas at Valley of Flowers in India. When she died, Lady Joan was 54 years old and unmarried, and the youngest daughter of the sixth Earl of Dartmouth. In addition to enjoying botany, Lady Joan served the poor through her local church. In 1922, she was nominated for Sheriff of Staffordshire county, but her dad disqualified her on the grounds that she owned no property. Before traveling to the Valley of Flowers, Lady Joan had spent the previous three years tending to her sick father. Then, she had spent the winter before her trip battling pneumonia. Although some of her friends were against her going to India, Lady Joan was eager to go, and many remarked that it was her first real holiday in ten years.   The Valley of Flowers was an exciting destination. It had only just been discovered in 1931 - eight years before Lady Joan's visit.  Three English mountaineers had stumbled on the Valley after getting lost. The Valley enchanted them, and the flowers made it seem like they were in a fairyland. One of the climbers was a botanist named Frank Smythe. He wrote a book called Kamet Conquered, and in it, he named the area the Valley of Flowers. The Valley of Flowers is a seven-day trip from Delhi. It is now a protected national park. As the name implies, it is a lush area famous for the millions of alpine flowers that cover the hills and slopes and nestle along icy flowing streams. Throughout most of the year, the Valley of Flowers remains hidden, buried under several feet of snow throughout a seven-to-eight-month-long winter.  In March, the melting snow and monsoon activate a new growing season. There is a brief 3-4 month window when the Valley of Flowers is accessible – generally during the months of July, August, and September. The Valley of Flowers is home to over 500 varieties of wildflowers, and many are still considered rare. Along with daisies, poppies, and marigolds, there are primulas and orchids growing wild. The rare Blue Poppy, commonly known as the Himalayan Queen, is the most coveted plant in the Valley. Lady Joan ended up traveling to the Valley of Flowers as a direct result of Frank Smythe's book. Smythe's work inspired many, and it attracted the attention of Edinburgh's Royal Botanic Garden, and they sponsored Lady Joan's trip. After arriving in the Himilayas, Lady Joan was accompanied by guides and porters. As she made her way over the lower foothills, she collected alpine specimens.   On the day she died, Lady Joan was traversing the slopes of Khulia Garva, which still attracts tourists. After she fell, her porters recovered her body. They buried her in the Valley at the request of her older sister, Dorothy. All of Lady Joan's belongings were packed up and sent home to England. The following summer, in 1940, Dorothy visited her sister's grave and placed a marker over the spot where she had been buried.  Today, Lady Joan's marker is visited by tourists, and it includes poignant words from Psalm 121: I will lift up mine eyes unto the hills From whence cometh my help   Unearthed Words Today in the UK, it's National Meadows Day - an annual celebration of the wildflower meadows of England. Each year, the event takes place on or around the first Saturday of July. So, in tribute, here are little poems about meadows.   How does the Meadow flower its bloom unfold?  Because the lovely little flower is free down to its root,   and in that freedom bold.  — William Wordsworth, English Romantic poet   In the meadow - what in the meadow?  Bluebells, Buttercups, Meadow-sweet,  And fairy rings for the children's feet  In the meadow.  In the garden - what in the garden? Jacob's Ladder and Solomon's Seal, And Love-Lies-Bleeding beside  All-Heal In the garden.  — Christina Georgina Rossetti, English poet, In The Meadow - What In The Meadow?   Rose! We love thee for thy splendor,  Lily! For thy queenly grace! Violet !  For thy lowly merit, Peeping from thy shady place!  But mine airy, woodland fairy, Scattering odors at thy feet, No one knows thy modest beauty, No one loves thee, Meadow-Sweet! — Charles MacKay, Scottish poet, Meadow-Sweet   The Meadow-Sweet was uplifting  Its plumelets of delicate hue,  The clouds were all dreamily drifting Above the blue. On the day when I broke from my tether  And fled from the square and the street  Was the day we went walking together  In the meadow, sweet.  The Meadow-Sweet with its clover   And bright with Its buttercups lay;  The swallows kept eddying over,  All flashing and gay.   I remember a fairylike feather   Sailed down your coming to greet,   The day we went walking together   In the meadow, sweet.   Ahl the Meadow-Sweet! and the singing   Of birds in the boughs overhead l   And your soft little hand to mine clinging,   And the words that you said   When bold in the beautiful weather   I laid my love at your feet,   The day we went walking together   In the meadow, sweet.   — Francis Wynne, Irish poet, Longman's Magazine, Meadow-Sweet   In summer fields the Meadow-Sweet   Spreads its white bloom around the feet   Of those who pass In love or play   The golden hours of holiday;   And heart to answering heart can beat   Where grows the simple Meadow-Sweet   Embosomed in some cool retreat   The long seed grasses bend to meet   The stream that murmurs as it flows   Songs of forget-me-not and rose;   The filmy haze of noon-tide heat  Is faint with scents of Meadow-Sweet.   Ah, Love ! do you know Meadow-Sweet?   Does some pale ghost of passion fleet   Adown this dreary lapse of years,   So void of love, so full of fears? Some ancient far-off echo greet   The once loved name of Meadow-Sweet   — William Leonard Courtney, English author and poet, Meadow-Sweet   Grow That Garden Library The Garden of Evening Mists by Tan Twan Eng This book came out in 2012, and it won the Man Asian Literary Prize. Kirkus Reviews said, "The unexpected relationship between a war-scarred woman and an exiled gardener leads to a journey through remorse to a kind of peace. After a notable debut, Eng (The Gift of Rain, 2008) returns to the landscape of his origins with a poetic, compassionate, sorrowful novel set in the aftermath of World War II in Malaya…Grace and empathy infuse this melancholy landscape of complex loyalties enfolded by brutal history, creating a novel of peculiar, mysterious, tragic beauty." The book is a 4.5 star rated book on Amazon. It is 352 pages - and the perfect summer read for gardeners. You can get a copy of The Garden of Evening Mists by Tan Twan Eng and support the show, using the Amazon Link in today's Show Notes for around $3.   Today's Botanic Spark 1924  President Calvin Coolidge is the only American President to have been born on the 4th of July and celebrated his 52nd birthday at the Whitehouse. To mark the occasion, he received a nearly 6-foot-tall floral arrangement from the Florist Telegraphers Association. The president was born at Plymouth, Vermont. Newspapers pointed out that while he was turning 52, the country was turning 148. One newspaper headline said, "Cal's Cool and 52". The Wilkes-Barre Record reported: "The President made no unusual observance of his birthday but joined with the nation in the July Fourth celebration. He spoke [in the] morning before the National Education Association. Later in the day, he planned to board the Presidential yacht (Mayflower) for a cruise down the Potomac. There were no White House guests, although the two sons of the President and Mrs. Coolidge, John and Calvin, Jr, were at home. E. T. Clark, private secretary to the president, said more than 46,000 cards and letters of congratulation had been received." Today, if you google "Calvin Coolidge 1924 birthday", you can see him standing on the south lawn next to the very large floral arrangement that was delivered to the White House. Three days after his birthday, Coolidge and his family suffered a personal tragedy. His younger son and namesake, Calvin Jr., developed an infected blister. He died on July 7 from sepsis. Although Coolidge became depressed, the public voted him into office, and he won a three-way race and the popular vote by 2.5 million votes over his two opponents' combined totals.  

First Segment: Brief riff off Charles MacKay's 1841 book, Extraordinary Popular Delusions and the Madness of Crowds and deplatforming in American history. Second Segment Lightning Segments. Third Segment: The Reformation, with focus on the Radical Spiritualists.

First Segment: Brief riff off Charles MacKay's 1841 book, Extraordinary Popular Delusions and the Madness of Crowds and deplatforming in American history. Second Segment Lightning Segments. Third Segment: The Reformation, with focus on the Radical Spiritualists.

Richard and John discuss what the current $16 price differential between WTI and Brent is telling us about the current oil market and what the current $17 price differential between the May and July futures prices is telling us about the future oil market. Other topics addressed include: How much oil is exported on a global basis? How much US production is likely to be shut-in? What type of US production will first come back into the market? Ernest Hemingway and Charles Mackay

Have you checked to see if there is an herb society near you? Herb societies offer gardeners what I call next-level understanding of plants. Aside from parsley, oregano, and thyme, you'll probably be surprised by the sheer number of plants that fall into the herbal category; plants like bronze fennel, red-veined sorrel, lovage, tansy and sweet cicely.   Brevities   #OTD On this day in 1878 the American botanist Forrest Shreve was born. We owe such a debt of gratitude to Shreve. He was THE preeminent botanist of North American deserts during the first half of the Twentieth Century. Shreve worked out of a laboratory in Tucson, Arizona. The lab was ideally situated for Shreve's field research of the western United States and northern Mexico. Shreve relished telling the origin story of his lab: “Of course you are familiar with the story of Andrew Carnegie,” he began, “the immigrant boy who became one of America’s richest steel magnates and who left a fortune “to encourage in the broadest and most liberal manner investigation, research, and discovery, and the application of knowledge to the improvement of mankind.” Before he died Carnegie had established an institution which divided its scientific investigations into twelve departments in widely separated parts of the country. The Desert Laboratory became one of the outposts of the Division of Plant Biology. The total Carnegie benefaction totaled about $25,000,000.” In July of 1908, Shreve ascended the Santa Catalina Mountains for the very first time. His party rode on horses to climb the 6,000 feet from Mount Lemmon's desert base to the summit which is 9,100 feet above sea level. During that climb, Shreve noticed what he called, "a continually shifting panorama of vegetation". Shreve's astuteness helped him realize the most amazing aspect of desert mountains; changes in vegetation are compressed into a few thousand feet of elevation - started with desert scrub, then grassland, then oak woodland... and followed by pine-oak woodland and forest, then pink forest, montane fir forest, and finally subalpine forest. Shreve's mastery of the North American Desert allowed him to describe and define, with precision, the four distinct desert regions of the United States. Today, each year, in Shreve's honor, the Forrest Shreve Student Research Award ($1000-2000) is given to support ongoing research of the hot deserts of North America.   #OTD  Today in 1901, the world lost Eva Reed, a botanist, author, and librarian with the Missouri Botanical Gardens . In a tragic accident, Reed had been sketching on the tracks of the Burlington railway, near Louisiana, Missouri, when she was run over and instantly killed by a passenger train. Several years earlier, she had become almost totally deaf as the result of a fever.      #OTD   Today in 1934, Leonard Cockayne passed away. Cockayne was 79 years old and is considered New Zealand's greatest botanist.  Cockayne was born in England and was raised in home that encouraged the exploration and appreciation of the natural world. As a child, Cockayne loved pressing flowers. In addition to Cockayne, both his brother and sister were great gardeners. In 1879, Cockayne left England and made his way to New Zealand. Dominion became his home for the remainder of his life. Ever modest, Cockayne once sent a letter to Kew along with a small parcel of seeds. He attached a little note which said, "I may say I am not a nursery gardener but merely a private individual who spends his whole time in the study of botany." In recognition of his 30 years of tireless work in New Zealand, Cockayne won the Darwin metal. During his career, Dr. K Richter von Goebel and John Paulus Lotsy, two distinguished botanists from the UK, visited him in New Zealand. Those visits where true highlights for Cockayne and they inspired him to continue his work. When he died, Cockayne was buried at the open-air museum he founded, which is serves as lasting memorial.vFrom his grave, one can see the native vegetation which had captured his heart, as well as the heights which bear his name.     #OTD Today we wish Monty Don a happy birthday! Don is an English television presenter, writer and speaker on horticulture, best known for presenting the BBC television series Gardeners' World. Over the past year, Don wrote Japanese Gardens: a journey by Monty Don and Derry Moore, the complement to the BBC2 series. In this personal and lyrical exploration of both the traditional and the modern aspects of Japanese gardening, Monty Don guides us through the history and beauty of Japanese gardens throughout the spectacular changing seasons.       Unearthed Words National Meadows Day took place over the weekend in the UK - and it is an annual celebration of the wildflower meadows of England. Each year, the event takes place on or around the first Saturday of July.  So, in tribute, here's a little poem about the Meadow Sweet by Charles MacKay:   ROSE ! we love thee for thy splendor, Lily ! for thy queenly grace ! Violet ! for thy lowly merit, Peeping from thy shady place ! But mine airy, woodland fairy, Scattering odors at thy feet, No one knows thy modest beauty, No one loves thee, Meadow-Sweet !     Today's book recommendation: A Sense of Place: The Life and Work of Forrest Shreve by Janice Emily Bowers This first in-depth study of Shreve's life and work. It is a beautifully written account of Shreve's career. The author shares a friend's description of Shreve, which compares him to a desert, "in his patience and his detachment, and like the desert, he put on a good display when he flowered." On writing about the desert, Shreve noted, "The most significant lesson that the desert dweller can learn from a familiarity with its plant and animal life is to regard himself not as an exile from some better place but as a man at home in an environment to which his life can be adjusted without physical or intellectual loss.'"     Today's Garden Chore Stop fertilizing in hot weather. Heat is a stressor for most plants and they will do better without having to contend with fertilizer while they are trying to survive the hottest part of the summer. Think about fertilizing as a shoulder season activity - spring and fall. The temps are cooler and water is generally more plentiful. As always, after you fertilize, make sure to water your garden well.     Something Sweet  Reviving the little botanic spark in your heart From an article in the Vicennes Sun from this week in 1965, here's a little footnote to history... It was about 140 years ago that the town of Hindustan , lndiana, was abandoned by its residents because of a plague of "milk fever."  This disease occurs after milk cows have eaten Wild Snakeroot.  A few years ago a botanist [shared] that the Hindostan neighborhood still is the best place in the Midwest to collect Wild Snakeroot for laboratory work." Wild or White snakeroot is a problem for livestock if they consume it. All parts of the plant are toxic. Transferring the toxin through cow's milk is a concern for humans; t his is known as milk sickness.    In the early 1800's, milk sickness resulted in the death of thousands of people; the most famous person to die from it was Abraham Lincoln's mother in 1818.     Thanks for listening to the daily gardener, and remember: "For a happy, healthy life, garden every day."

From mushrooms to tulips to torture, Jill Weiner and Connor Creagan take you Freakz on a real wikipedia trip! First we learn about a fungus amongst us, the Carolus Clusius. From there we head to the more favorable flora, tulips and the insanity that was Tulip Mania back in the 1600s. Next we dive into a book that explores the tulip bubble — Extraordinary Popular Delusions and the Madness of Crowds. From there we go into the afterlife with the the spooky Drummer of Tedworth and the haunting of Cock Lane. Finally we end with the the delightful public humiliation that is the pillory! Follow Jill Weiner on IG and Twitter @jill_lives Follow Connor Creagan on IG and Twitter @connorcreagan Follow WikiFreakz @wikifreakzz on Twitter and @Wikifreakz on Instagram

Meowing nuns, deadly dancing, and a fever for flowers! Get swept away with Jennifer and Max as they explore maniacal moments from history, when entire populaces were abruptly compelled into incredibly strange behaviors!    Delusions, Madness, and Mania   Show Notes: Tanzania Laughing Epidemic Sources: https://en.wikipedia.org/wiki/Tanganyika_laughter_epidemic https://thepsychologist.bps.org.uk/volume-22/edition-7/dancing-plagues-and-mass-hysteria http://listverse.com/2009/03/16/top-10-bizarre-cases-of-mass-hysteria/ https://www.atlasobscura.com/articles/the-1962-laughter-epidemic-of-tanganyika-was-no-joke https://www.thevintagenews.com/2016/09/29/tanganyika-laughter-epidemic-1962-around-1000-people-hysterically-laughing-one-year/ http://rltz.blogspot.com/2007/05/from-central-african-medical-journal.html https://www.realclearscience.com/blog/2013/02/tanganyika-laughter-epidemic-of-1962.html https://www.amazon.com/Humor-Code-Global-Search-Things/dp/1451665415/ref=sr_1_1?keywords=mcGraw+code+of+humor&qid=1554506380&s=gateway&sr=8-1-spell   The Dancing Plague of 1518 Sources: https://owlcation.com/humanities/dancing-plague-of-1518 https://en.wikipedia.org/wiki/Dancing_plague_of_1518 https://publicdomainreview.org/2018/07/10/the-dancing-plague-of-1518/   https://www.amazon.com/Time-Dance-Die-Extraordinary-Dancing/dp/1848310218/ref=sr_1_2?crid=7C5VLPZPFS1G&keywords=a+time+to+dance+a+time+to+die&qid=1554506328&s=gateway&sprefix=a+time+to+dance+a+tim%2Caps%2C196&sr=8-2   Tulip Mania Sources: http://www.bbc.com/culture/story/20160419-tulip-mania-the-flowers-that-cost-more-than-houses https://en.wikipedia.org/wiki/Tulip_mania Extraordinary Popular Delusions and the Madness of Crowds, Charles MacKay: https://www.amazon.com/Extraordinary-Popular-Delusions-Madness-Crowds/dp/1539849589/ref=pd_sbs_14_1/139-3407924-6566600?_encoding=UTF8&pd_rd_i=1539849589&pd_rd_r=7327f8cb-596c-11e9-9d06-a332060cea22&pd_rd_w=bUYh7&pd_rd_wg=evXyp&pf_rd_p=588939de-d3f8-42f1-a3d8-d556eae5797d&pf_rd_r=ZZ4YYAADV34V9XNGDEBF&psc=1&refRID=ZZ4YYAADV34V9XNGDEBF   Weird Sisters Sources: https://www.thevintagenews.com/2018/02/12/middle-ages-mass-hysteria https://historycollection.co/12-historys-baffling-mass-hysteria-outbreaks/3/ https://thepsychologist.bps.org.uk/volume-22/edition-7/dancing-plagues-and-mass-hysteria   The Lille Boarding School Hysteria Sources: Memoirs of Extraordinary Popular Delusions and the Madness of Crowds by Charles McKay https://www.amazon.com/Memoirs-Extraordinary-Popular-Delusions-Madness-ebook/dp/B004TP6B1O/ref=sr_1_1?keywords=Memoirs+of+Extraordinary+Popular+Delusions+and+the+Madness+of+Crowds&qid=1554763437&s=gateway&sr=8-1 http://www.projectcontinua.org/antoinette-bourignon/   Credits Theme Music Makenna Carrico - www.makennacomposer.com   Additional Music Haunted Filing Cabinet Sneaky Detective Sneaky Birdie Sneaky Plucked Strings 1 Composer: Thomas VanOosting   Violin's Stinger - SlowSad Stinger  Composer: Jonathan Edward Carlile   Comedy Klezmer Circus Composer: Hakan Eriksson    Tense Hands Stinger Shadows Hang Stinger Composer: Numsi   Thumbnail Photography Jennifer Page   Warm & Special Thanks All of Odd Tonic's friends, new and old. Thanks for your support!

All the way back in episode 01, we began this season in New York City, celebrating the career of Charles MacKay, who has been the General Director of the Santa Fe Opera since 2008. Charles is a known visionary in the opera industry who has given opportunities to countless new artists, musicians, and administrators during his 50-year tenure. His artistic leadership has furthered The Santa Fe Opera’s tradition of bold and innovative repertory with the commission of five mainstage world premieres – including Jennifer Higdon’s Cold Mountain in 2015 and Mason Bates’ The (R)evolution of Steve Jobs in 2017.   In this episode, Brandon has an exclusive and thoughtful conversation with Charles as they explore the state of the industry and the future of the art form through the unique lens of opera company leadership. *** Key Change is a production of The Santa Fe Opera in collaboration with Opera For All Voices. Produced and edited by Andrea Klunder at The Creative Impostor Studios Hosts: Andrea Fellows Walters and Brandon Neal Audio Engineer: Kabby at Kabby Sound Studios in Santa Fe Theme music by Rene Orth with Corrie Stallings, mezzo-soprano, and Joe Becktell, cello. Cover art by David Tousley OFAV Consortium Members:  Lyric Opera for Kansas City, Minnesota Opera, Opera Theatre of Saint Louis, San Francisco Opera, Sarasota Opera and Seattle Opera. This podcast is made possible due to the generous funding from the Melville Hankins Family Foundation, the Andrew W. Mellon Foundation, and an OPERA America Innovation Grant, supported by the Ann and Gordon Getty Foundation.   To learn more about Opera for all voices, visit us at SantaFeOpera.org

As a wealthy person, what are your tips for financial independence?Adam Fayed, Global Wealth and Insurance Advisor living in AsiaWealth is relative. I may be wealthy compared to the global average, but there is probably somebody reading this who is much wealthier than me, which brings me to point 1:1. Compounding.High wealth takes more time than high income. If you have person 1, who is 30, has an MBA and is earning $200,000 after tax , and person 2, who is 60 and has earned $60,000 a year for 40 years, person 2 should be wealthier.2. Good spending habits + compoundingLook at the three people below:Person 1 was a secretary from New York who died recently Wirth $6M. Person 2, Buffett, `only` had $1M at age 32. Mike Tyson, person 3, made hundreds of millions by age 32. Now Buffett has over $60Billion and Tyson is broke or close to broke.3. ReadBuffett spends 80% of his days reading and Mark Cuban spends 3 hours a day reading. It is an investment. I suggest some of these books:They also spend more on getting knowledge from online sources, rather than pointless material things.4. Real estateUse a house as a home. Don't overspend on rent. Using real estate on leverage can be profitable but it is risky. Best to just own 1 home maximum, which is modest. Millionaires, who have sustainable wealth, are more likely to live in places like these.5. FeesThey keep their investment keeps low.6. Long-term.They see the bigger picture. Often buy, hold and rebalance.7. They have self-controlHuman nature and especially fear, greed and egoism is the killer of portfolios.8. They always do the right things, consistentlyThe person below is one of the best, if not the best, at football. One of the reasons is he implements the evidence everyday. If you want to get wealthy, implementing the evidence consistently and with persistence can be key. There is no point in only sometimes being motivated.Do you want to be financially free online?Here is a reading list to avoid some of these issues:Amazon.com: 6 Steps to Financial Freedom: The Secrets Marketers and Wall Street don't want you to know. (9781983114083): Adam Fayed: BooksPaul Farrell – The Lazy Person's Guide to Investing: A Book for Procrastinators, the Financially Challenged, and Everyone Who Worries About Dealing With Their MoneyBurton Malkiel and Charles Ellis. The Elements of InvestingLarry Swedroe. The Only Guide to an Investment Strategy You'll Ever NeedLarry Swedroe. The Quest For Alpha: The Holy Grail of InvestingJohn Bogle, The Little Book of Common Sense Investing : Only Way to Guarantee Your Fair Share of Stock Market Returns (Little Books. Big Profits)William Bernstein. The Four Pillars of Investing: Lessons for Building a Winning PortfolioJohn Bogle – Common Sense on Mutual Funds: New Imperatives for the Intelligent InvestorJohn Bogle's “The Clash of the Cultures”David Swensen, Unconventional Success: A Fundamental Approach to Personal InvestmentLawrence Cunningham. The Essays of Warren Buffett: Lessons for Corporate America, Second Edition“Security Analysis” by Benjamin GrahamBenjamin Graham's “Intelligent Investor.”Carl Richards, The Behavior Gap, Simple Ways to Stop Doing Dumb Things with Your Money.Thinking Fast and Slow, Daniel KahnemanExtraordinary Popular Delusions and The Madness of Crowds, Charles Mackay.The Essays of Warren BuffettFor more academic work on how the 4% rule works in practice, I would recommend the following:Sustainable Withdrawal Rates From Your Retirement Portfolio, by Philip L. Cooley, Carl M. Hubbard and Daniel T. Walz – http://afcpe.org/assets/pdf/vol1...Other academic books to look at include:Bengen, W. P. (1994). Determining withdrawal rates using historical data. Journal of Financial Planning, 7(1), 171-180.Bengen, W. P. (1996). Asset allocation for a lifetime.Journal of Financial Planning, 9(3), 58-67.Bengen, W. P. (1997). Conserving client portfolio during retirement, part III. Journal of Financial Planning, 10(5), 84-97.Bierwirth, L. (1994). Investing for retirement: using the past to model the future. Journal of Financial Planning, 7(1), 14-24.Cooley, P. L., Hubbard, C. M. & Walz, D. T. (1998). Retirement spending: choosing a sustainable withdrawal rate. Journal of the American Association of Individual Investors, 20(2), 16-21.Ferguson, T. W. (1996). Endow yourself. Forbes, 157(12), 186-187.Ho, K., Milevsky, M. & C. Robinson. (1994). Asset allocation, life expectancy, and shortfall. Financial Services Review., 3(2), 109-126.Ibbotson Associates (1996). Stocks, bonds, bills, and inflation yearbook. Ibbotson Associates, Chicago, IL.Ibbotson Associates (1998). Stocks, bonds, bills, and inflation yearbook (CD-ROM V ersion). Ibbotson Associates, Chicago, IL.

In this episode I examine the current spike in allegations of sexual harassment, with the attendant consequences. And while totally agreeing that it's a big problem I worry that people might be getting swept into a mania, where innocent people might be suffering.  Of course this is not something unheard of. Back in 1841 Charles Mackay wrote a book about it, and from that day to this, even though the severity may have decreased we still suffer from the occasional witch hunt. Is the current spate of allegations in any danger of drifting into that territory?

There is a school of thought that groups often bring out the worst in humankind. Think only of the Charles Mackay book on “Extraordinary Popular Delusions and the Madness of Crowds,” the U.S. Founding fathers’ visceral fear of ‘mob rule,’ or the influential social science of Gustave Le Bon and others during the French Third Republic. And yet, as a university student future social psychologist Stephen Reicher often witnessed sublime behavior from collections of people. He saw that groups could foster racism – and they could foster civil rights movements. What he saw much of the time was group behavior “completely at odds with the psychology I was learning.” “In a sense, you could summarize the literature: ‘Groups are bad for you, groups take moral individuals and they turn them into immoral idiots.’ “I have been trying to contest that notion,” he tells interview David Edmonds in this Social Science Bites podcast, “[and] also to explain how that notion comes about.” In a longer-than-normal podcast, Reicher explains how group mentality can bring out the best in individuals and reviews the history of crowd psychology and some of its fascinating findings that have enormous policy implications in a world of mass protest and terroristic threat. For example, in discussing studies on the escalation of violence, Reicher explains how indiscriminate responses by authorities can create violence rather than defuse it, a useful lesson for Western countries dealing with generally peaceful populations that may still produce a few terrorist inductees from their ranks. Reicher is the Wardlaw professor at the School of Psychology and Neuroscience at the University of St. Andrews. A fellow of the British Academy, his most widespread recognition outside the academy comes from his work with Alexander Haslam on the BBC Prison Study, or The Experiment.  He is also the co-author of several books, including 2001’s Self and Nation: Categorization, Contestation and Mobilization, with Nick Hopkins, and 2014’s Psychology of Leadership with Haslam.

My guests today are Frank Curzio of Stansberry & Associates and Robin Griffiths, the Chief Technical Strategist at ECU and formerly at HSBC. The topic is markets. In this episode of Trend Following Radio we discuss: Covel and Curzio discuss how the fundamental guys justify all time highs in the equity market; the Shiller PE ratio; the importance of analyzing interest rates; Warren Buffett recent investments; what the Fed would do if we went down 30% today; why having a low interest rate environment creates a good situation for stocks; being prepared from a risk management perspective; Zero Interest Rate Policy, its effect on equities and bonds, and tail risk; comparing the environment today to the 1987 crash; hypothetical situations surrounding the S&P 500; exit strategies; and the 24-hour news cycle. Covel and Griffiths discuss how to use fundamentals in an age when interest rates are artificially controlled; Griffiths' history as a mechanical engineer and how he found his way into trading and technical analysis; regression analysis; Elliott Wave and cycles; the idea of whipsaws; geopolitical risks; China, India, and the rise of Asia; not trading off of geopolitical fundamental information; how Griffiths came to the conclusion that the efficient market hypothesis and much of what the mutual fund industry depends on doesn't hold water; spikes and why people in 2014 think that all spikes are gone; Extraordinary Popular Delusions and the Madness of Crowds by Charles Mackay and the cyclical nature of booms and busts; and virtual currencies. Jump in! --- I'm MICHAEL COVEL, the host of TREND FOLLOWING RADIO, and I'm proud to have delivered 10+ million podcast listens since 2012. Investments, economics, psychology, politics, decision-making, human behavior, entrepreneurship and trend following are all passionately explored and debated on my show. To start? I'd like to give you a great piece of advice you can use in your life and trading journey… cut your losses! You will find much more about that philosophy here: https://www.trendfollowing.com/trend/ You can watch a free video here: https://www.trendfollowing.com/video/ Can't get enough of this episode? You can choose from my thousand plus episodes here: https://www.trendfollowing.com/podcast My social media platforms: Twitter: @covel Facebook: @trendfollowing LinkedIn: @covel Instagram: @mikecovel Hope you enjoy my never-ending podcast conversation!

Today on the podcast, Michael Covel interviews Frank Curzio and Robin Griffiths. First, Covel speaks with Frank Curzio of Stansberry & Associates. Covel and Curzio discuss how the fundamental guys justify all time highs in the equity market; the Shiller PE ratio; the importance of analyzing interest rates; Warren Buffett recent investments; what the Fed would do if we went down 30% today; why having a low interest rate environment creates a good situation for stocks; being prepared from a risk management perspective; Zero Interest Rate Policy, its effect on equities and bonds, and tail risk; comparing the environment today to the 1987 crash; hypothetical situations surrounding the S&P 500; exit strategies; and the 24-hour news cycle. Next, Covel interviews Robin Griffiths, Chief Technical Strategist at ECU and formerly at HSBC. Griffiths comes at it from a technical perspective. Covel and Griffiths discuss how to use fundamentals in an age when interest rates are artificially controlled; Griffiths’ history as a mechanical engineer and how he found his way into trading and technical analysis; regression analysis; Elliott Wave and cycles; the idea of whipsaws; geopolitical risks; China, India, and the rise of Asia; not trading off of geopolitical fundamental information; how Griffiths came to the conclusion that the efficient market hypothesis and much of what the mutual fund industry depends on doesn’t hold water; spikes and why people in 2014 think that all spikes are gone; Extraordinary Popular Delusions and the Madness of Crowds by Charles Mackay and the cyclical nature of booms and busts; and virtual currencies. Want a free trend following DVD? Go to trendfollowing.com/win.

In 1929 Charles Mackay, a former mayor of Wanganui bled to death on a Berlin street corner – a victim of violent clashes between police and Communist protesters. How did he get there? An earlier incident triggered Mackay's tragic trajectory: in 1920 he shot the returned soldier-cum-writer Walter D'Arcy Cresswell, who was blackmailing the (secretly homosexual) mayor. Paul Diamond's research into the events surrounding both shootings has uncovered new information about this hidden aspect of New Zealand history. Seminar presented by Paul Diamond, 7 September 2011.

People believe all kinds of things, mostly because other people believe them, too.  And then there's the fish.Part 1 - From the Preface"Memoirs of Extraordinary Popular Delusions and the Madness of Crowds," by Charles Mackay.Part 2 - Fish is Brain Food -- Isn't it?Part 3 - It Gets Worse -- Autism and FishPart 4 - This is Life -- Seth Harwood's book, Jack Palms II.Part 5 - Stories?  Where's my Stories?  -- No, really, they're coming soon.IDSL -- Joel Johnson, "3 Seconds."Themes: 140 Times from Bob Baldwin, Sovereign from Kevin MacLeod.

People believe all kinds of things, mostly because other people believe them, too.  And then there's the fish.Part 1 - From the Preface"Memoirs of Extraordinary Popular Delusions and the Madness of Crowds," by Charles Mackay.Part 2 - Fish is Brain Food -- Isn't it?Part 3 - It Gets Worse -- Autism and FishPart 4 - This is Life -- Seth Harwood's book, Jack Palms II.Part 5 - Stories?  Where's my Stories?  -- No, really, they're coming soon.IDSL -- Joel Johnson, "3 Seconds."Themes: 140 Times from Bob Baldwin, Sovereign from Kevin MacLeod.