The Terlingua Ghost TownAdventures in Capitalism
Last Tuesday, I was in Southwest Texas, at the Terlingua ghost town; created by a mercury mining boom in the early 1900’s. On the wall of the only remaining store in town, I saw this sign and had a good chuckle. Despite a century of human progress, nothing much has changed in how promoters entice suckers into their financial schemes.
“Buy now, before some big exciting event happens.”
As the Everything Bubble of the 2010’s reaches the final blow-off phase, the con-men are coming out in full force and pitching all sorts of silly products; cannabis scams, fake currencies, Chinese schemes and an electronic vehicle Giga-Fraud. I have no doubt that most of the guys promoting the current generation of hot public companies are about as genuine as the guys selling worthless desert a century ago.
According to the 2010 US census, there are 4,426 people living in Presidio, Texas. If you bought into the Presidio building boom, you’re probably still underwater—even after a century of inflation.
Article by Adventures In Capitalism