The Terlingua Ghost Town

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.

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“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.

Caveat Emptor

Article by Adventures In Capitalism


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