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SAT Reading: Which Event Explicitly Precipitated the Tulip Bubble? 7 Views


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Description:

Tulips were the Beanie Babies of the 17th Century. Find out how the tulip bubble burst!


Transcript

00:02

all right Shmoopers were starting the beginning of tulip mania and beanie baby

00:08

mania kind of together got two passages we're gonna semi analyze together at [text on screen]

00:13

least get asked questions about so we're skimming I'm skimming them skimming them

00:16

and yeah that was really quick all right well let's just go into the questions

00:19

and see where they lead us so here we go first question the passage states that

00:23

the tulip bubble was precipitated by which event all right well tulip mania

00:29

yeah go look it up it's nothing like WrestleMania way less bloody so where [men wrestling]

00:33

are we well we're kind of reading through this passage and thinking about

00:37

tulips and like who would pay a lot of money for one flower and so on you can't [tulip bought with lots of money]

00:41

even eat it doesn't even give you a yeah you know funny feeling so I don't know [man spinning in void]

00:44

strange all right well what's the right answer here well the right answer is a a

00:48

tulip by any other name would be worth a lot less money the beginning of [tulip with a large price tag]

00:53

so-called tulip mania was the opening of the Mart's or markets their opening

00:58

allowed what the author calls stock jobbers to bid on tulip see stock [text on screen]

01:03

jabbers right there you can find it right in the text

01:05

well these speculators began creating fluctuations in the prices for tulip [people discussing]

01:09

sales the kind of manipulated prices spread rumors innuendoes and had

01:14

somebody buy a lot and then sell a lot to fool the common Joe or whatever they [man whispers in ear]

01:19

were named back then in tulip mania like Joseph odd maybe well less savvy

01:23

investors like Josefa were confused by fluctuating prices and didn't know the [Josepha at the market]

01:28

true worth of the tulips while the sale of one rare tulip yes described in the

01:33

graphic occurred at the height of the bubble not its outset so get rid of be [text on screen]

01:37

that one tulip didn't matter similarly the bubble was already growing

01:41

when people began selling their property to enter the market so get rid of seat [woman blowing soap bubbles]

01:46

and boy does that sound like the beginning of the Great Depression stock

01:49

market thing in the US huh those foreign buyers well they only got involved

01:53

because the bubble was already inflating so time matters here yeah get rid of Dee [soap bubble floating]

01:58

so the only one that fits is a the establishment of flower Mart's allowed

02:01

speculators to affect prices and implicitly bring in the average Josefa

02:07

to well be a sucker [Josepha with a large lolly pop]

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