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[其他] Boom and bust?

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Reader question:

Please explain this sentence, with “personal boom and bust” in detail: From the great migration into the Great Plains to the ghost towns of today we hear the stories of “personal boom and bust”.

My comments:

Here, “personal boom and bust” refers to people’s successes and failures, especially in money matters. In other words, rags to riches, riches to rags. Fortunes made, fortunes lost.

“Boom” refers to times when they’re prosperous, with their fortunes growing rapidly whereas “bust” refers to the hard times when they’re broke and penniless.

The great migration into the Grain Plains reminds me of Mark Twain (1835-1910)’s time, more or less – when the first railroads were built in America, something like that.

Anyways, the Great Plains refer to the vast flatlands west of the Mississippi River and east of the Rocky Mountains. Early pioneers moved from the Atlantic coast into the Great Plains to claim land, raise cattle and make a fortune. Later on of course people moved further into the Wild West. During this period, many fortunes were made – followed by bankruptcies and many personal tragedies.

After initial success, people’s ambitions began to explode. Some began to invest in gold mines, for example, in California.

Even Alaska.

Anyhow, the first millionaires were created during this time, the Gilded Age, in Mark Twain’s words.

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