True bjaesch - I was watching a railway documentary and it mentioned this downturn/depression of the 1840's and literally wiped out dozens of privately owned railway lines in GB and this affected investors who had money tied up in the Colonies and they called in their debts. No safety net in those days - no Federal Reserve or Government bail outs. Just Goodnight!
The Federal Reserve & Keynsian monetary policy is supposed to iron out the wrinkles now - but we are still subject to CYCLES. Looking forward to the UP cycle in commodities/metals/minerals.......Yiiippppeee! I am debt averse - so maybe it was past down the generations.
Ann: High-Grade Nickel and Cobalt Assays from Itapitanga Trenches, page-109
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