User talk:Nearwater

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May 2014
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 * was Petrified Forest in Arizona, another natural feature Congress later made into a national park.

Speedy deletion nomination of South Sea Bubble (temporary)


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The content was this Graeme Bartlett (talk) 02:12, 31 May 2014 (UTC) :

Background

 * South Sea company created during War of Spanish Succession and given monopoly to trade with South America
 * At war's end (the Treaty of Utrecht effectively ended the war in 1713), England was barred from trading with South America, destroying the value of the company's monopoly
 * The English government had debt (from the war?)
 * the government debt was not liquid
 * the company offered to exchange the debt for equity in the company, planning to pay the dividends with the coupons from government debt
 * initial exchange of 1 million pounds went well

Growth of the bubble
TBD

The bubble bursts
TBD

Aftermath
TBD