Southsea Bubble

Scottish Country Dance Instruction

1- 8 1s+2s set and dance ½ RH across; 2s+1s set and cross RH
9-16 1s+2s+3s set and link for 3; 1s dance ½ reels of 3 across, LSh to 2nd corner (position) to start
17-24 1s+2s+3s set and link for 3; 1s dance ½ reels of 3 on sides, LSh to 1st corner (position) to start
25-32 1M dances up between 2s, 1L dances down between 3s and they cast to 2nd place own sides; 2s+1s+3s turn partner RH

(MINICRIB. Dance crib compiled by Charles Upton, Deeside Caledonian Society, and his successors)

Keith Rose's Crib Diagrams

Southsea Bubble - Full Size And Key To Symbols

Dance Information

The South Sea Company, founded in 1711, was granted a monopoly on British trade with Spanish South America as part of a treaty to settle disputes over the War of Spanish Succession.

The company's stock became highly speculative, and the share prices soared to unrealistic levels. Investors were lured by the promise of vast profits from the potential wealth of South America, even though the company had few actual trading operations. The bubble burst in 1720 when the true financial situation of the South Sea Company was revealed, leading to a dramatic and devastating collapse in stock prices.

The South Sea Bubble is often cited as one of the earliest examples of a financial bubble, where speculation and irrational exuberance lead to inflated asset prices that are not supported by the fundamentals of the underlying assets. The aftermath of the South Sea Bubble had significant economic repercussions, and it prompted the British government to enact regulatory reforms to restore confidence in financial markets.

The term "South Sea Bubble" is now used metaphorically to describe any financial scheme or investment that is built on unrealistic expectations, eventually leading to a collapse when the true state of affairs is revealed. It serves as a cautionary tale in the history of financial markets.