user1873

Earth

BG.SE

Age: 39

The economy is in fact over-expanded, particularly in railroad construction, and the weak link turns out to be the banking house of Jay Cooke and Company, which helped the U.S. Government finance the Civil War and also underwrote the construction of the Northern Pacific Railroad. Jay Cooke and Company, a large and respected banking house declares itself bankrupt, and announces its failure on September 18, 1873.. (The bank's collapse precipitates the "Panic of 1873" and the ensuing three yea depression during which more than 10,000 businesses fail.     The basic economic problems are overproduction, a declining market and deflation. Investors in Europe, where a depression is already underway, begin to call in American loans. The New York Stock Exchange closes its doors for 10 days; other businesses fail; and railroad construction is curtailed, with some railroads defaulting on their bonds. The unemployed begin to move about the country seeking jobs, and bread lines appear in the cities. The hard times drove numbers of laboring people and those in humble circumstances to the West and other portions of the country, to seek the rewards which the stagnation of business in the great commercial centre denied them.

1d
awarded Good Answer
Jan
27
reviewed Close What was Fred Phelps' platform when he stood for election?
Jan
27
reviewed Leave Closed Have past U.S. presidents been as involved in social commentary as the current one?
Jan
27
reviewed No Action Needed Where is the USA's report on enhanced interrogation techniques located?
Jan
27
reviewed No Action Needed Why is India called the biggest democratic country?
Jan
27
reviewed Reviewed Why is India called the biggest democratic country?
Jan
25
comment Can I use a creature's ability on my opponent's turn?
It might be worth noting cards that say, "use this ability only anytime you could cast a Sorcery" would be excluded.
Jan
24
awarded Nice Answer
Jan
22
awarded Popular Question
Jan
6
awarded Notable Question
Jan
3
comment What are the relevant models and dynamics of immigration and asylum politics?
This is way too broad. You want what the immigration policies are for 160+ countries, and the reasons why they are that way. Good luck.
Dec
28
awarded Good Question
Dec
27
comment Why do republicans oppose S.2569, the Bring Jobs Back Act?
@bobson, it seems pretty clear cut to me, the only thing the bill does is modify the IRS tax code. Perhaps you think of the IRS as a jobs program, but I am pretty sure the primary purpose of the IRS is raising money. "The Bring Jobs Home Act would amend the Internal Revenue Code"
Dec
23
comment Why do republicans oppose S.2569, the Bring Jobs Back Act?
From the OP "and deny a tax deduction for outsourcing expenses incurred in relocating a U.S. business outside the United States"
Dec
23
comment Why do republicans oppose S.2569, the Bring Jobs Back Act?
@Bobson, yes and? This bill is supposed to remove the tax deduction for businesses to move offices overseas (and add a tax deduction for business who move operations back to the USA). Are you denying that removing the tax deduction for businesses to establish overseas offices is a tax increase?
Dec
23
revised Why do republicans oppose S.2569, the Bring Jobs Back Act?
fixed link...
Dec
23
comment Why do republicans oppose S.2569, the Bring Jobs Back Act?
@DA., Orrin Hatch.
Dec
21
comment Who said that organizations tend over time to become more liberal?
Stephen Macedo, but I don't think we do trivia here.
Dec
20
awarded Yearling
Dec
20
awarded Yearling
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