Gold rushes can make people crazy. 1848 was enough of an indicator of that. When Sam Brannan announced to the world: ‘Gold! Gold! Gold from the American River!’, half the world’s population (or so it seemed to the tiny California population which lived there at the time) descended on the soon to be the newest state of the union.
San Francisco, before a small hamlet with a few hundred pioneers living there, became a centre of vice, murder and debauchery overnight.
Two hundred years before tulip mania hit Europe, and like in California with its argonauts or 49ers, it impoverished more than it made rich. In the early 2000s, too, the Dot.Com bubble created a speculative tendency in people when irrationality took over all reason.