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.

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awarded Nice Answer
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reviewed Leave Closed What is the justification for FIFA's support of states with limited recognition?
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reviewed Close What has Maria Caulfield (UK MP or Lewes constituency) done recently in parliament?
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reviewed Close What is the political system where there is a 'friendly' dictatorship
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comment What kind of jobs do illegal immigrants do in USA?
@blip, you are kind of misrepresenting my point. We have enough STEM graduates, (I love how USNews caters to both sides that cannot both be true, but H1Bs are cheaper for companies to hire.
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comment What kind of jobs do illegal immigrants do in USA?
College students cannot find STEM jobs because H1B visa employees are cheaper and cannot leave their sponsoring company. They aren't illegal immigrants, more like indentured servants.
Aug
13
comment Citadels: Price of the poorhouse from Dark City
A word of caution, I have seen threads that note that the zero cost is a misprint, but players can choose to play it that way. Nothing official from Bruno Fadutti or Fantasy Flight Games, but I didn't do an extensive search.
Aug
13
answered Citadels: Price of the poorhouse from Dark City
Aug
13
awarded Enlightened
Aug
13
awarded Nice Answer
Aug
13
comment Do the rich get richer and the poor get poorer?
@dtanders, I suppose that Marx could have been referring to wealth rather than income. If he was though, he does have an issue that you point out. The older you get, he wealthier you get. ("the old get richer and the young get poorer")
Aug
11
comment Do the rich get richer and the poor get poorer?
@dtanders, "richer" means more real income than you previously received year-over-year. If you don't like my simple definition, what more complex definition would you use?
Aug
11
comment Left Libertarion Party?
Left/Right don't have any real meaning. In the USA, the left is associated with the Democrat party. I am pretty sure you mean libertarian, not liberation (which is more associated with armies fighting occupying forces). Libertarians value liberty/freedom. The point of those political spectrum quizzes isn't to determine which party you would vote for, but to determine your own political leanings.
Aug
9
comment Where does refused medicaid expansion money go?
This ignores the obvious point that if "the money" already existed, the national debt wouldn't continue to increase every year.
Aug
6
awarded Popular Question
Aug
2
answered Why is stopping climate change prioritized significantly below the economy and other issues?
Jul
31
awarded Popular Question
Jul
31
comment Why don't German workers ask for the money they deserve?
LYou really need to link to your sources for the charts. I found an older one, but not the 2000-2010 version. This 1999-2010 doesn't have those charts.
Jul
31
comment How much does those bombs and missiles cost which are not used up and get outdated?
Don't know exact answers, but WWII bombs were used in Vietnam. Some nuclear weapons are recycled.
Jul
22
comment Do the rich get richer and the poor get poorer?
@BjarkeFreund-Hansen, "real" dollars are inflation adjusted by definition.
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