"Talking about 17th cent Holland reminded me of Tulip mania. A bubble."

I recall being blown away by the book of that name many years ago. It certainly points to those "Keynesian‘ animal spirits’ – the intuitive, emotional, and irrational components that economic decision makers bring to their actions"

On that I have a friend who puts money into crypto who got exceedingly annoyed recently when I described the whole thing as the "new Tulipmania"...his anger reminded me of how emotionally involved people get when in the search for magically "free" money: I think he took it as me charging him with irrationality...and I probably was.

-There's a kind of identity bonding happens...a very weird cultishness. So strange.

The bit I didn't quite get in the above was the idea that: ".. hiking interest rates" was merely a step removed from adding money.

-When in fact it's the opposite: it's removing money...but maybe he meant that's the other side of the only trick they know?...like Sanctions?