South African farmers and feather merchants became extremely wealthy on the back of the trade and started building ostentatious feather mansions which boasted ‘panelled walls, tiled bathrooms, hand-painted friezes; the finest mahogany, walnut, and oak furniture... gilt concave mirrors, silver and Sheffield plate, the best Irish linen.’
At the market’s height in 1913, farmers were expanding, and brokers and investors were stockpiling large quantities of feathers in anticipation of even higher prices. Many in the trade were utterly convinced that the profits would keep rolling in, for feathers, like diamonds, were an ‘investment for life’, and in 1911 the world’s only ostrich professor confidently stated that ostrich farming would be a permanent feature of South African farming.
Three years later, however, the feather market began a precipitous and permanent decline. By late 1914, changing fashions, growing concerns over animal cruelty and conservation and the advent of the motor car, which rendered elaborate headgear impractical, all spelt the end for feather mania. The crash resulted in great hardship for South Africa’s feather farmers and merchants.
Scores of farmers committed suicide (weak hands) rather than face life without their farms. Merchants’ feather mansions were auctioned off for the price of their windows and doors – one merchant even forced his wife to sell her oven door to pay off his debts. Ostrich carcasses littered the South African landscape because farmers could not afford the birds’ feed."
Copied from the internet.
People say accumulating Ostrich feather is stupid and their fundamental value is not as high as I would think, but they do not understand the new world, it is not the way it used to be anymore.
Ford astonished the world in 1914 by offering a $5 per day wage ($130 today), which more than doubled the rate of most of his workers.
The world is changing and new demands are arising. With mass production this opens so many possibilities. So many innovations are being made.
The bubble popped a hundred years ago, so a new bull market is imminent.
The longer this bear market lasts, the closer we get to the bull market.
1 Feather = 1 Feather come at me.
On the really long term Ostrich feathers are in a . What do you mean inflation?
They might be slightly below their 1913 price, but I am still up 5000% compared to 1250.
People are calling me stupid for accumulating Ostrich Feathers they laugh and throw stones at me but they simply do not understand the powerful new world economy.
Besides, back in 1905 when the price of Feather dropped they called hoarding it incredibly stupid, but those that did saw massive returns in 1913 so where is your argument now?
I am just waiting for Feather to pop above the price and then we are really going to get going.
Return to the mean BTW:
Of course the countless examples that just die disappear and are not on trading view.
do not just disappear, so I can use that as example. Good luck finding a feather chart.
Cryptoers are going to look very smart in 2115.
Remember the popular movement from nearly 10 years ago?
It started in 2002 not many people knew about it, and nearly 10 years later, around 2010-2012 it bubbled completely.
Every one was doing that stupid dance and for the first time in my life I wanted to put a Michael Myers mask on and stab people repeatedly (and I was not the only one, do not worry this particular case is the one where this is normal).
Anyone remember Tecktonik? Took me hours of digging to remember that name and anyone I asked had no idea what I was talking about.
Well I was wrong, about 8 years ago I claimed I hated that movement, I claimed I thought it was so stupid and the people dancing weirdly in the street were morons, I claimed that idiotic fad would die, but I was wrong. Yes, the Tecktonik advocates had it right, now today every one is a big fan of that awesome music/dance it went full mainstream, every one knows about it, it did not fall into oblivion as I predicted. Every day I see someone in the street listening to Tecktonik and dancing, every one loves Tecktonik, people are all dancing it is bringing people together as the "bulls" predicted and dropping alot of taboos etc.
People that invested time and money into that, also saw marvelous gains.
They absolutely are not broke and do not look like idiots today.
Idc each time I look at crypto I fall asleep. Baggiest market I have ever seen.
But on the larger scale it only looks like the usual bubble denial and it won't last much longer...
(still) Pretty sure we are going to go below 3000 and flash down between the 20/02 and 15/03. Probably 25/02 to 05/03.
Tesla said it not me. I would phrase it differently :}