The great depression began in 1929 and had some influence on debt which was one of the Great Depression causes in the United States. American consumers and businesses in the 1920s greatly relied on cheap credit previously to purchase consumer goods like furniture and automobiles, and later for capital investment to increase production. This catalyzed strong short-term growth but created consumer and commercial debts. Businesses and individuals that were much in debt after price deflation occurred or demand for their products decreased often risked default. Besides, War-related debts amounted to around $12 Billion which was equivalent to 15% of the U.S national income and higher than the total U.S private long term foreign assets. The war-related debts critically disrupted the international financial system and also influenced the great depression.
Answer:
As a strict constitutionalist, Jefferson fretted that the deal he had been handed was unconstitutional. He worried that the treaty powers granted to the president in the Constitution did not allow the executive branch to attain land through treaty. Napoleon offered Jefferson the Louisiana Purchase because his armies had tried and failed to recapture the colony of Santo Domingo (Haiti) from the armies of former slaves which had wrested it away from France in the 1790s.
Explanation:
First of all, there are many different types of banks. There are central banks, investment banks, and a wide variety of multinational corporations that have financial and banking services that are integrated into the global monetary and economic system that defies a single human's comprehension and understanding.
The specific type of bank that the politician is referring to is a depository institution or thrift that is involved with taking in deposits and issuing withdrawals of money. This is community and retail banking, and bank robbers target these institutions as they serve as a point of entry into the global financial, monetary system, and it holds banknotes that robbers want to steal. These people are really not interested in taxation levels set by government. They are much more interested in the banknotes that are held by retail banks.
The politician is not making an effective argument because a citizen is concerned about their checking and savings accounts which are not affected by the theft of banknotes.
