91. #How to avoid Loss by Crises.# Now, these bubbles and crises are very disastrous things; they lead to the ruin of many people, and there are few old families who have not lost money at one collapse or another. The working-classes are often much injured; many are thrown out of employment, and others, not seeing why their wages should be reduced, make things worse by strikes, which, after a collapse, cannot possibly succeed. It is most important, therefore, that all people--working-people, capitalists, speculators, and all connected with any kind of business--should remember that #very prosperous trade is sure to be followed by a collapse and by bad trade#. When, therefore, things look particularly promising, investors should be unusually careful into what undertakings they put their money. #As a general rule, it is foolish to do just what other people are doing, because there are almost sure to be too many people doing the same thing.# If, for instance, the price of coal rises high, and coal-owners make large profits, there are certain to be many people sinking new mines. Such a time is just the worst one for buying shares in a coal-mine, because, in the course of a few years, there will be a multitude of new mines opened, the next collapse of trade will decrease the demand for coal, and then there will be great losses in the coal business. This is what has happened in the last few years in England, and the same thing has happened over and over again in other trades. As a general rule, #the best time to begin a new factory, mine, or business of any kind, is when the trade is depressed, and when wages and interest are low#. Mining, building, or other work can then be done more cheaply than at other times, and the new works will be ready to start just when business is becoming active and there are few other new works opening.