the governor and company of the merchants of great britain, trading to the south seas and other parts of america, and for the encouragement of fishery

Though not the only joint-stock venture to hedge its liabilities and ultimately prove ruinous for investors, the South Sea Company (official long form above), founded as a public-private partnership—with the support of the government hoping to offset some of the national debt incurred during its involvement with the War of the Spanish Succession and its own colonial activities—in 1711, was the most spectacular economic bubble, bankrupting thousands of investors and speculators who had underwritten the enterprise. Originally incorporated as a substitute revenue generating operation when a national lottery scheme run on behalf of the Crown failed to turn a profit (the jackpot winners were deprived of their prizes), the public was instead invited to purchase shares of a chartered company with a monopoly over trade with Spain and Portugal and would in time collect dividends from the profits. The stock price was inflated by those late-comers not wanting to miss out (taking out loans to take part) on an opportunity and rife mismanagement, including a not insignificant amount of business in the trafficking of enslaved individuals from Africa to Central and South America—and though huge sums of money were trading hands, the company failed to be profitable and engaged in increasing debt for equity swaps until the price increased in a frenzy from £100 to over £1000 in the course of a few months in 1720, falling just as precipitously at an even faster pace. A decade after its founding, on this day, with recriminations rampant and with the aristocracy, the merchant classes as well as the working poor duped and financially broken, the Committee of Inquiry on the South Sea Bubble came forth with their findings, revealing fraud and corruption at all levels. Amazingly the newly appointed First Lord of the Treasury, Robert Walpole, was able to restore public confidence in the financial market and the company continued—this time focusing its efforts on whaling—until the reign of Victoria, finally dissolved in 1838.

8x8

ruminant digestive process: whilst bovine flatulence makes the headlines, burps are the chief source of methane and could be neutralised with a special mouth guard—via the New Shelton Wet/Dry  

caporegime: via ibīdem, the Organised Crime and Corruption Reporting Project names Jair Bolsonaro Corrupt Person of the Year, trouncing with a narrow margin Trump, Erdoğan and Netanyahu  

commander-in-cheat: First Minister Nicola Sturgeon won’t allow Trump to visit his golf course in Scotland during the pandemic lockdown to bow out of attending the inauguration in Washington, DC 

georgia on my mind: Reverend Warnock declared winner in Senate race and Democrats poised to take control of the Upper House  

grogu pains: The Mandalorian reimaged as 1990s sitcom  

die abenteur des prizen achmed: the incredible silhouette animation technique of Lotte Reiniger—more here  

population density: housing ten billion humans in one mega city could help vastly reduce our footprint, freeing up the remaining land mass for rewilding and argiculture 

all the trimmings: for this traditional day of ceremonially discarding the tree, ways to transform it into garnish and a tasty treat

zusammenleben

We really enjoyed pursuing the extensive portfolio of images captured of East Germany in the photography of Ute Mahler, who embarked in 1974 for a decade’s long mission to preserve and convey his fellow friends, neighbours and strangers as they were authentically cool and collected—both candid and posed—and unmediated by geopolitics. Much more curated by the Guardian at the link above and at the on-line gallery exhibition hosted by La Maison De L’Image Documentaire.

your daily demon: amy

Also known as a Hanni, this demon with the rank of President—corroborated and conflicted depending on one’s sources—initially presents as a flame (as seen in the sigil) until called upon by the summoner and knowledge in astronomy and the liberal arts and reveal hidden treasures, ruling the fifth quartile of Capricorn corresponding with this day, Epiphany, through the tenth of the month. Opposed by the angel called Ieialel, this fifty-eighth spirit in the calendar of demonology reportedly harbours the believe that he and his legion can reclaim the throne of the Seventh Heaven after twelve centuries have passed.

patent medicine

Prolific inventor and obvious turophile, lumberjack Stuart M. Stebbings (previously) of Wisconsin prototyped and registered a cheese-based filter for cigarettes in 1966. Trials showed that a blend of grated hard cheese with charcoal performed best, removing up to ninety percent of tar from smoke, reportedly outdoing anything else on the market. There is no evidence this proposal got off the drawing board. Much more from Weird Universe at the links above.

mánasteinn

We always enjoy—albeit too often only vicariously and not as active readers who’ve done the assignment beforehand—listening to episodes of the BBC World Book Club and are usually drawn in, intrigued to add a new title to the pile, by a thoroughgoing discussion that some might call spoilers but strike me more as insights from the author. A recent instalment featuring poet, lyricist and novella-writer Sigurjón “Sjón” Birgir Sigurðsson, sometimes collaborator with The Sugarcubes and Björk and his now very timely 2013 work Mánasteinn: drengurinn sem aldrei var til (Moonstone: The Boy Who Never Was) about identity, otherness and escapism through cinema in Reykjavík just as the nation is granted independence and the island is visited by the 1918 Influenza Pandemic. Visit the link up top to listen to the programme and learn what’s next on their reading list.

en attendant godot

The original French version of the play, Samuel Beckett’s Waiting for Godot had its premiere performance on this day in 1953 at the Théâtre de Babylone in Paris, coming in translation to London’s West End two years later. Held as one of the most significant English-language theatrical pieces of the twentieth century, the tragicomedy extolling existential conundrums in the milieu of vaudeville in two acts follows the characters Vladimir and Estragon (see also) as they await the titular Godot, whom never arrives. The author grew weary and distracted by what he felt was over-analysis, declaring he had not imbued the play with deeper meaning, but later Beckett came to embrace these multiple readings and interpretations.

in the public interest

Untethered to a particular year (otherwise we’d be reluctant to dip our toes in the recent past), we enjoyed this piece from the New York Times Insider section—via Digg—as a final year-end list for 2020 of seventy-four favourite facts gleaned and cited in the articles that they came from—see also. It’s a fun read-through and we liked re-encountering the concept of “pants drunk” and Bayesian logic, and especially enjoyed learning the delightful fact that unique among their kind when “ants of the species Myrmecina graminicola encounter danger while on a slope, they tuck into a ball and roll away” and that the form of protest in Latin America that involves pot-banging (see also) is called cacerolazo—the Spanish word for casserole. Let us know your favourite new fact.