English version

South Sea Bubble, the

From Longman Dictionary of Contemporary EnglishSouth Sea Bubble, thethe South Sea BubbleˌSouth Sea ˈBubble, the  a serious financial problem in the UK in 1720, which led to many people losing all their money. The South Sea company made large profits by trading with South America, and this encouraged many people to invest their money in it (=lend the company money, in the hope of making more money). But the company was very dishonestly run, and in the end it failed and the money people had invested became worthless.
Pictures of the day
What are these?
Click on the pictures to check.