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Originally Posted by Ethersync
It's also worth mentioning that US manufacturing output blew past the UK in 1890 and we never looked back. In fact 1870s and 1880s we experienced our fastest economic growth rates ever.
1865 to 1900 is referred to as the Gilded Age and this economic boom time is what made America America. During this time there were a number of short recessions, 1 depression and huge numbers of banks and railroads went bankrupt. This was a time with no government bailouts of anyone and no Federal Reserve and not only did we recover quickly we had our greatest time of real economic growth ever.
Now governments prevent the liquidation of malinvestment under the guise of helping us and in reality prolong the agony and worsen the problem.
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Cali Gold rush: 1848–1855 - Overall Gold rush lasted almost 100 years, from early 1800's to early 1900's.
Mad fraud took place, fake gold/money was a huge issue, bank bonds failed and people lost everything they had/owned including property, no standard of trade, one bank/person wouldn't take another persons/banks note, lots of issues took place during these times. Besides getting shot in the street for looking at a man wrong.