At the end of the 17th century, England was in trouble. The English Civil War dominated the middle of the century, and it left the country financially devastated. Bridges and buildings needed to be repaired or rebuilt from scratch, and debts needed to be repaid.
I once asked if government programs like Social Security are Ponzi schemes. The answer was, “If people know it’s a Ponzi scheme, it’s not a Ponzi scheme.”
Yeah, I think that's a pretty good take overall. Of course, our economy does seem to have worked considerably better than any other economy ever tried so far, so I guess we are doing some things right... but that does not change the fact that it is certainly a house of cards.
Actually, I don't think so. The BOE was created the same year as the Million Adventure, but both were in response to the massive debt in England, largely due to the civil war.
I've also been known to be adventurous with my money.
Which is a roundabout way of saying I'm broke.
I've played the Hundred Adventure myself from time to time.
There's no need to flaunt your wealth.
It's all about the Hamiltons!
No, you can’t borrow any money. 🤣
I once asked if government programs like Social Security are Ponzi schemes. The answer was, “If people know it’s a Ponzi scheme, it’s not a Ponzi scheme.”
Yeah, I think that's a pretty good take overall. Of course, our economy does seem to have worked considerably better than any other economy ever tried so far, so I guess we are doing some things right... but that does not change the fact that it is certainly a house of cards.
So "The Old Lady of Threadneedle Street" was created in response to what was basically a con job? Wow.
Actually, I don't think so. The BOE was created the same year as the Million Adventure, but both were in response to the massive debt in England, largely due to the civil war.