Trading the Wind: Four Centuries of Bubbles, Panics, and Financial Crises, from Tulip Mania to Silicon Valley - Softcover

Trading the Wind : Four Centuries of Bubbles, Panics, and Financial Crises, from Tulip Mania to Silicon Valley

Taschenbuch. Zustand: Neu. Neuware - In the winter of 1637, Dutch merchants bought and sold tulip bulbs they had never seen. What changed hands in the taverns of Haarlem was not the bulb but a promise - resold a dozen times in an evening, for delivery months away. They had a name for it: windhandel. The wind trade. Four centuries later, $42 billion left Silicon Valley Bank in a single day, moved by messages in private group chats. Between those two mornings lie nineteen crises, four centuries, and one remarkably consistent human being. Trading the Wind is a narrative history of financial panic - from the South Sea Bubble that cost Isaac Newton a fortune, to the 1929 crash, to the mortgage that a bank handed a man with three part-time jobs and no income verification, to the banking failures of 2023 and the debt now financing the artificial intelligence boom. It is also a book about what didn't happen. Brokers did not throw themselves from Manhattan windows in droves; the statistics say otherwise. No sailor ate a priceless tulip bulb mistaking it for an onion. Separating the documented from the merely well-loved is one of this book's central purposes. No equations. No jargon. Just merchants, bankers, presidents and ordinary families making decisions that looked reasonable at the time and absurd a year later. Because the ingredients are always the same: cheap credit, a convincing story, and the conviction that this time is different. Written from Europe, about a mostly American story - which turns out to be a useful place to watch from. Artikel-Nr. 9798192893593

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