First Documented Economic Bubble in History ~ No 'TwoLips' Could ever Express this Blooming Economic Bubble

The very first economic bubble in the economic history occurred in 1637, Holland as a result of the Tulip Mania.

Among the Dutch the Tulip was a very precious and sought after flower mostly because of the intense petal colours of the flower that could not be found in any other flower, this made it a novelty item as well as a luxury to have in your home.

A breakout of a tulip specific virus mosaic also known as the "Tulip breaking virus" that derived its name due to the fact that it was known to "breaks" the petal colour of the Tulip into two or more colours, and caused colourful flame like streaks to show face on the petals, making the flowers very sought after and so ensured a 20% increase in their already premium priced market value, with the Semper Augustus tulip bulb selling at the equivalent value of $10-15 million in todays currency. And when the true bulb buyers started stockpiling for the next growing season the scarcity created an even bigger demand. It was not long before the prices of tulip bulbs increased so immensely that people who longed to get their hands on these flowers started trading anything that they could liquidate including property and life savings in order to get more tulip bulbs.

The continued inclining prices of the flowers eventually stopped when people started realizing that the actual value of the tulip has been drastically surpassed by its actual value, and at this point people started selling their tulip treasures in order to crystalize their profits, but as soon as the majority of people started selling, the potential buyers market plummeted and the value dropped causing everyone to suffer extensive financial losses.

Just goes to show, don't plant all your bulbs in one garden.

http://www.investopedia.com
https://en.wikipedia.org/wiki/Tulip_mania