Thomas Jefferson on Investment Bubbles

My friend Patrick Lee at Thomas Jefferson Leadership quotes Mr. Jefferson:



The American mind is now in that state of fever which the world has so often seen in the history of other nations. We are under the bank bubble [of financial speculation], as England was under the South Sea bubble, France under the Mississippi bubble, and as every nation is liable to be, under whatever bubble, design, or delusion may puff up in moments when off their guard.

Patrick has a brief commentary about Jefferson on bubbles.

On this topic, I use the works of Kindleberger, MacKay and Bagehot on financial crises.