The British Railway Mania

How a disruptive technology created the biggest speculative bubble in the history of England

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1/ Railways were the most disruptive technology of the 19th century, known as the "railway age", transforming England from an agricultural to an industrialized nation.
2/ The development of railway infrastructure and locomotives started at the end of the 18th century but experienced immense growth after 1830.
3/ Hundreds of railway related bills were passed every year with proposed rails totaling 10,000 miles, a third of which was never built due to poor financial planning, competition, or fraud.
4/ In the mid-1840s, the Bank of England cut interest rates rendering government bonds unattractive, and investors more willing to rush in the railway investments.
5/ In 1825 the Bubble Act, passed after the South Sea Bubble in 1720, was repealed enabling easier formations of companies and ventures.

*For more on the South Sea Bubble see below
👇👇👇
https://t.co/ggB2vFv9Ha
6/ The lack of regulation, and the media promotion attracted many investors who could purchase shares of railway companies with just a 10% deposit, with many middle-class families investing their entire savings.
7/ The railway network expanded from less than 100 miles in 1830 to 6,000 miles in the late 1840s connecting all the major cities in the country.
8/ The disruptive potential of the railway technology made investors to rush in for investing, with the invested capital exceeding 1/3 of the country's GDP by 1850.
9/ Many entrepreneurs got into financing, constructing, and operating the railway lines gaining immense wealth.

Most notable among them was George Hudson who operated 1/3 of the railway lines.
10/ Shares became extremely volatile due to the mania, peaking in 1845 with the dividend rates exceeding 8%.

In 1845, investors started realizing the financial viability of many projects was not guaranteed and the investments were not as lucrative as they had initially thought.
11/ Along with the rise of interest rates by the Bank of England and the Irish Potato Famine, money started flowing from railway investments back to government bonds.
12/ The sudden lack of interest and outflux of capital led to the bubble bursting in 1845 and the market crashing.

The shares of the railway companies dropped below half of their peak price, with dividend rates slashed to 2%.
13/ Many companies were on the brink of bankruptcy, being eventually bought out by their big competitors at a fraction of their value.
14/ After the bubble burst and mania fizzled, the improper business practices of George Hudson were revealed.

Hudson, also a member of the British parliament, had engaged in bribery, embezzlement, and insider trading.
15/ Hudson's operations were basically a Ponzi scheme using the invested capital by new investors to pay the dividend to the old investors.
16/ The industry rebounded after 1850 but never reached the levels of the 1845 mania, due to the maturity of the industry and the government regulation.

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Rig Ved 1.36.7

To do a Namaskaar or bow before someone means that you are humble or without pride and ego. This means that we politely bow before you since you are better than me. Pranipaat(प्राणीपात) also means the same that we respect you without any vanity.

1/9


Surrendering False pride is Namaskaar. Even in devotion or bhakti we say the same thing. We want to convey to Ishwar that we have nothing to offer but we leave all our pride and offer you ourselves without any pride in our body. You destroy all our evil karma.

2/9

We bow before you so that you assimilate us and make us that capable. Destruction of our evils and surrender is Namaskaar. Therefore we pray same thing before and after any big rituals.

3/9

तं घे॑मि॒त्था न॑म॒स्विन॒ उप॑ स्व॒राज॑मासते ।
होत्रा॑भिर॒ग्निं मनु॑षः॒ समिं॑धते तिति॒र्वांसो॒ अति॒ स्रिधः॑॥

Translation :

नमस्विनः - To bow.

स्वराजम् - Self illuminating.

तम् - His.

घ ईम् - Yours.

इत्था - This way.

उप - Upaasana.

आसते - To do.

स्त्रिधः - For enemies.

4/9

अति तितिर्वांसः - To defeat fast.

मनुषः - Yajman.

होत्राभिः - In seven numbers.

अग्निम् - Agnidev.

समिन्धते - Illuminated on all sides.

Explanation : Yajmans bow(do Namaskaar) before self illuminating Agnidev by making the offerings of Havi.

5/9
Хајде да направимо мали осврт на случај Мика Алексић .

Алексић је жртва енглеске освете преко Оливере Иванчић .
Мика је одбио да снима филм о блаћењу Срба и мењању историје Срба , иза целокупног пројекта стоји дипломатски кор Британаца у Београду и Оливера Иванчић


Оливера Илинчић је иначе мајка једне од његових ученица .
Која је претила да ће се осветити .

Мика се налази у притвору због наводних оптужби глумице Милене Радуловић да ју је наводно силовао човек од 70 година , са три бајпаса и извађеном простатом пре пет година

Иста персона је и обезбедила финансије за филм преко Беча а филм је требао да се бави животом Десанке Максимовић .
А сетите се и ко је иницирао да се Десанка Максимовић избаци из уџбеника и школства у Србији .

И тако уместо романсиране верзије Десанке Максимовић утицај Британаца

У Србији стави на пиједестал и да се Британци у Србији позитивно афирмишу како би се на тај начин усмерила будућност али и мењао ток историје .
Зато Мика са гнушањем и поносно одбија да снима такав филм тада и почиње хајка и претње која потиче из британских дипломатских кругова

Најгоре од свега што је то Мика Алексић изговорио у присуству високих дипломатских представника , а одговор је био да се све неће на томе завршити и да ће га то скупо коштати .
Нашта им је Мика рекао да је он свој живот проживео и да могу да му раде шта хоће и силно их извређао