The great Texas emu bubble
What if tulips had been six feet tall and ran at 50km an hour?
THE SUN is a giant, gleaming emu egg in the sky, and if you gaze long enough at the Milky Way, you can see the long body of an emu formed from the stars. The world’s second largest bird after the ostrich, the emu is native to Australia and has long been a source of mythical inspiration—and sustenance—for Aboriginals. The big bird claims a place on Australia’s coat of arms, stamps and 50-cent coin. It even sparked a military deployment, the Great Emu War of 1932, when soldiers were sent to Western Australia to kill them and thereby save the farmers’ crops. The emus won.
From the 19th century, the three-toed bird started to spread its flightless wings and became a prized oddity in zoos worldwide. A century on, the emu was also seen as a potential source of red meat—a healthier version of beef. It was in this guise, as livestock, that the emu came to Texas in the 1980s. It did not end well for most of the emus, or most of their owners.
This article appeared in the Christmas Specials section of the print edition under the headline "An investment that never took off"
Christmas Specials December 22nd 2018
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