query: when did the stock market start in the united states

pos: New York Stock Exchange traced to the Buttonwood Agreement. Previously securities exchange had been intermediated by the auctioneers who also conducted more mundane auctions of commodities such as wheat and tobacco. On May 17, 1792 twenty four brokers signed the Buttonwood Agreement which set a floor commission rate charged to clients and bound the signers to give preference to the other signers in securities sales. The earliest securities traded were mostly governmental securities such as War Bonds from the Revolutionary War and First Bank of the United States stock, although Bank of New York stock was a non-governmental security traded in the early days.

neg: History of Japan the yen and other currencies. By the end of 1987, the Nikkei stock market index had doubled and the Tokyo Stock Exchange became the largest in the world. During the ensuing economic bubble, stock and real-estate loans grew rapidly. Japan became a member of the United Nations in 1956 and further cemented its international standing in 1964, when it hosted the Olympic Games in Tokyo. Japan was a close ally of the United States during the Cold War, though this alliance did not have unanimous support from the Japanese people. As requested by the United States, Japan reconstituted its army

neg: Stock market and quickly spread around the world. By the end of October, stock markets in Hong Kong had fallen 45.5%, Australia 41.8%, Spain 31%, the United Kingdom 26.4%, the United States 22.68%, and Canada 22.5%. Black Monday itself was the largest one-day percentage decline in stock market history – the Dow Jones fell by 22.6% in a day. The names "Black Monday" and "Black Tuesday" are also used for October 28–29, 1929, which followed Terrible Thursday—the starting day of the stock market crash in 1929. The crash in 1987 raised some puzzles – main news and events did not predict the

neg: When Did You Start to Stop Seeing Things? When Did You Start to Stop Seeing Things? When did You Start to Stop Seeing Things? is the tenth episode of the popular 1969 ITC British television series "Randall and Hopkirk (Deceased)" starring Mike Pratt, Kenneth Cope and Annette Andre. The episode, directed by Jeremy Summers, was first broadcast on 23 November 1969 on the ITV. Jeff is hired by a company based in Metropolis House to find out who is leaking information for use on the stock market. Unfortunately matters are complicated when a financial adviser named Charles Tully is murdered in a car park late at night and

neg: Public housing in the United States the veterans returned from overseas, they came ready to start a new life, often with families, and did so with the funding resources of the G.I. Bill to start a new mortgage. However, there was not enough housing stock to accommodate the demand. As a result, President Truman created the office of Housing Expediter by executive order on January 26, 1946, to be headed by Wilson Wyatt. Through this office, government intervened in the housing market largely through price controls and supply chain restrictions, despite political pressure from some factions to directly construct housing. Efforts moved to focus exclusively on

neg: Wealth inequality in the United States United States. In 2013 UNICEF data on the well-being of children in 35 developed nations ranked the United States at 34 out of 35 (Romania is the worst). This may reflect growing income inequality. In March 2017, NPR summarized the distribution of U.S. stock market ownership (direct and indirect through mutual funds) in the U.S., which is highly concentrated among the wealthiest families: The Federal Reserve reported the median value of stock ownership by income group for 2016: NPR reported that when politicians reference the stock market as a measure of economic success, that success is not relevant to nearly

neg: Wall Street Crash of 1929 Wall Street Crash of 1929 The Wall Street Crash of 1929, also known as the Stock Market Crash of 1929 or the Great Crash, is the stock market crash that occurred in late October, 1929. It started on October 24 ("Black Thursday") and continued until October 29, 1929 ("Black Tuesday"), when share prices on the New York Stock Exchange collapsed. It was the most devastating stock market crash in the history of the United States, when taking into consideration the full extent and duration of its after effects. The crash, which followed the London Stock Exchange's crash of September, signalled

neg: International reactions to the 2012 United States presidential election more cooperation on the basis [of] our common interests in the fight against worldwide speculation, [the] fight against the problems of climate change and in cooperation for peace, justice and development worldwide." With the result reaching Asia in the morning, stock market indices around the continent rose as did currencies as a result of Obama's win. However, futures markets in the U.S. fell on the news. The Aussie appreciated to its greatest level against the United States dollar in six weeks following the news of the result. Japan's stock market indices also fell as a result of a stronger yen

neg: Market maker bid price meets a seller's offer price or vice versa, the stock exchange's matching system decides that a deal has been executed. In such a system, there may be no designated or official market makers, but market makers nevertheless exist. In the United States, the New York Stock Exchange (NYSE) and American Stock Exchange (AMEX), among others, have Designated Market Makers, formerly known as "specialists", who act as the official market maker for a given security. The market makers provide a required amount of liquidity to the security's market, and take the other side of trades when there are short-term

neg: Great Depression in the United States all of what the U.S. spent on World War I. By 1930 the value of shares had fallen by 90%. Since many banks had also invested their clients' savings in the stock market, these banks were forced to close when the stock market crashed. After the stock market crash and the bank closures, people were afraid of losing more money. Because of their fears of further economic challenge, individuals from all classes stopped purchasing and consuming. Thousands of individual investors who believed they could get rich by investing on margin lost everything they had. The stock market crash severely impacted

neg: United States bear market of 2007–09 United States bear market of 2007–09 The US bear market of 2007–2009 was a 17-month bear market that lasted from October 9th 2007 to March 9th 2009, during the financial crisis of 2007-2009. The S&P 500 lost approximately 50% of its value, but the duration of this bear market was just below average due to extraordinary interventions by governments and central banks to prop up the stock market. The bear market was confirmed in June 2008 when the Dow Jones Industrial Average (DJIA) had fallen 20% from its October 11, 2007 high. This followed the United States bull market of

neg: Racial inequality in the United States same. African Americans may be less likely to invest in the stock market because they have a smaller parental head-start and safety net. Chong, Phillips and Phillips state that African Americans, Hispanics, and Asians invest less heavily in stocks than White Americans. Hispanics and in some ways African Americans accumulate wealth slower than White Americans because of preference for near-term saving, favoring liquidity and low investment risk at the expense of higher yielding assets. These preferences may be due to low financial literacy leading to a lack of demand for investment services. According to Lusardi, even though the stock market

neg: Betty Hill (activist) the Hotel Somerville on 4225 S. Central Ave. It was built to accept black visitors since other hotels in Los Angeles did not. Abraham Hill served on the advisory board when stock was issued on the hotel. Betty Hill was in attendance at its grand opening, which attracted about 5000 people. After the 1929 stock market crash, it was sold and renamed the Dunbar Hotel (after poet Paul L. Dunbar). It was the site for the first NAACP convention in the western United States. Next to the Dunbar Hotel lay the famous Club Alabam, originally the Club Apex and founded

neg: 1990s United States boom 1990s United States boom The 1990s economic boom in the United States was an extended period of economic prosperity, during which GDP increased continuously for almost ten years (the longest recorded expansion in the history of the United States). It commenced after the end of the early 1990s recession in March 1991, and ended in March 2001 with the start of the early 2000s recession, following the bursting of the dot com bubble. The 1990s were remembered as a time of strong economic growth, steady job creation, low inflation, rising productivity, economic boom, and a surging stock market that resulted

neg: Stock market catastrophe and visible reasons for the collapse were not identified. This event raised questions about many important assumptions of modern economics, namely, the theory of rational human conduct, the theory of market equilibrium and the efficient-market hypothesis. For some time after the crash, trading in stock exchanges worldwide was halted, since the exchange computers did not perform well owing to enormous quantity of trades being received at one time. This halt in trading allowed the Federal Reserve System and central banks of other countries to take measures to control the spreading of worldwide financial crisis. In the United States the

neg: 2015–16 stock market selloff the United States in October 2014, a sharp rise in bond yields in early 2016, and finally, in June 2016, the United Kingdom European Union membership referendum, 2016, in which Brexit was voted upon. By July 2016, the Dow Jones Industrial Average (DJIA) recovered and achieved record highs. The FTSE 100 Index only did so later in 2016. The DJIA closed at a record 18,312 on May 19, 2015 before slowly falling to a low of 17,504 and then partially recovering to its secondary closing peak of 18,102 on July 16. The stock market slowly slid thereafter, reaching a low

neg: 1973–74 stock market crash level until May 1987 (only a few months before the Black Monday crash), whilst the United States didn't see the same level in real terms until August 1993, over twenty years after the 1973–74 crash began. The Hong Kong TVB series "The Greed of Man" storyline revolves around the market crash. 1973–74 stock market crash The 1973–74 stock market crash caused a bear market between January 1973 and December 1974. Affecting all the major stock markets in the world, particularly the United Kingdom, it was one of the worst stock market downturns in modern history. The crash came after the

neg: Stock market downturn of 2002 investor confidence suffered. The September 11 attacks also contributed heavily to the stock market downturn, as investors became unsure about the prospect of terrorism affecting the United States economy. The International Monetary Fund had expressed concern about instability in United States stock markets in the months leading up to the sharp downturn. The technology-heavy NASDAQ stock market peaked on March 10, 2000, hitting an intra-day high of 5,132.52 and closing at 5,048.62. The Dow Jones Industrial Average, a price-weighted average (adjusted for splits and dividends) of 30 large companies on the New York Stock Exchange, peaked on January 14, 2000

neg: Stock market in various ways. One way is by the country where the company is domiciled. For example, Nestlé and Novartis are domiciled in Switzerland, so they may be considered as part of the Swiss stock market, although their stock may also be traded on exchanges in other countries, for example, as American depository receipts (ADRs) on U.S. stock markets. As of mid 2017, the size of the world stock market (total market capitalization) was about US$76.3 trillion. By country, the largest market was the United States (about 34%), followed by Japan (about 6%) and the United Kingdom (about 6%). These numbers

neg: Extended-hours trading Extended-hours trading Extended-hours trading (or electronic trading hours, ETH) is stock trading that happens either before or after the regular trading hours (RTH) of a stock exchange, i.e., pre-market trading or after-hours trading. After-hours trading is the name for buying and selling of securities when the major markets are closed. Since 1985, the regular trading hours for major exchanges in the United States, such as the New York Stock Exchange and the Nasdaq Stock Market, have been from 9:30 a.m. to 4:00 p.m. Eastern Time (ET). Pre-market trading occurs from 4:00 a.m. to 9:30 a.m. ET, although the majority of

neg: V. Vivaudou 1926 the firm approved a contract to acquire the Alfred H. Smith Company. In May 1930 V. Vivaudou Inc., was ordered by the Federal Trade Commission to divest itself of capital stock in Parfumerie Melba, Inc., and the Alfred H. Smith Company. The FTC ruled that the companies were formerly competitors of V. Vivaudou Inc, and its acquisition of their stock constituted a monopoly. The order to divest was reversed by a United States Court of Appeals in November 1931. The court decided that the three companies' control of 6% of the United States cosmetics market did not constitute a

neg: Controversies of the 2006 United States Senate election in Virginia properly report income and stock options from companies which have federal contracts, and contacted the Army to help a company in which he has an interest. Allen's staff said Allen believed in "good faith" that he did not need to report the stock options because their purchase price was higher than the current market value. Following the AP report, Allen asked the Senate ethics committee for an opinion on whether he should have disclosed his options. The ethics committee ruled than Allen was not required to disclose his stock options, and did not err in not doing so. On October

neg: Angola Stock Exchange intention to list 10 companies. However in July 2013, Archer Mangueira, chairman of the Capital Markets Commission of Angola, said that Angola plans to start the Angola Stock Exchange trading on 2016. On December 19, 2014, the Capital Market in Angola started. BODIVA (Angola Securities and Debt Stock Exchange, in English) received the secondary public debt market, and it is expected to start the corporate debt market by 2015, but the stock market should only be a reality in 2016. Angola Stock Exchange The Angolan Stock Exchange is a proposed stock exchange in Angola. First announced in 2006, the Stock

neg: 1973–74 stock market crash 1973–74 stock market crash The 1973–74 stock market crash caused a bear market between January 1973 and December 1974. Affecting all the major stock markets in the world, particularly the United Kingdom, it was one of the worst stock market downturns in modern history. The crash came after the collapse of the Bretton Woods system over the previous two years, with the associated 'Nixon Shock' and United States dollar devaluation under the Smithsonian Agreement. It was compounded by the outbreak of the 1973 oil crisis in October of that year. It was a major event of the 1970s recession. In

neg: Stock market downturn of 2002 trillion. To put the downturn of 2002 in perspective, here is a look at annual U.S. stock market declines in 2000, 2001, and 2002: Here is a historical view of the stock market downturn of 2002 including figures from the stock market bubble of the late 1990s: NB: Registration required for all links Stock market downturn of 2002 In 2001, stock prices took a sharp downturn (some say "stock market crash" or "the Internet bubble bursting") in stock markets across the United States, Canada, Asia, and Europe. After recovering from lows reached following the September 11 attacks, indices slid steadily

neg: Stock market data systems AT&T's Dataphone high-speed telephone service. In 1963 the new system was accepted by many brokers, and was installed in hundreds of their offices. At the end of each day, this same system transmitted stock market pages to United Press International, which in turn sold them to its newspaper customers all over the world. When Ultronics introduced their Stockmaster desk units in 1961 they priced the service at approximately the same price as the Quotron desk units. They did not want a price competition only a performance competition. All of these stock quote devices were sold on leases with monthly rental

neg: FTSE AIM 100 Index Stock Exchange Group. FTSE AIM 100 Index The FTSE AIM 100 Index is a stock market index of the top 100 companies on the London Stock Exchange's Alternative Investment Market weighted by market capitalisation. It comprises a range of businesses ranging from young, venture capital-backed start-ups to well-established, mature organisations looking to expand. AIM 100 companies must have their primary listing on the Alternative Investment Market, and are required to meet various eligibility criteria. The index may contain companies that are also included in the FTSE AIM UK 50 Index. When the London Stock Exchange created AIM, the objective was

neg: History of the United States (1918–1945) by the extension of credit to a dangerous degree, including in the stock market, which rose to record high levels. Government size had been at low levels, causing major freedom of the economy and more prosperity. It became apparent in retrospect after the stock market crash of 1929 that credit levels had become dangerously inflated. The stock market crash was also caused by the increased government spending of Herbert Hoover and excessive market speculation. The United States became more anti-immigration in outlook during this period. The American Immigration Act of 1924 limited immigration from countries where 2% of the total

neg: History of hard rock miners' organizations slowdown in 1865 finally did result in a wage cut, and when the stock market crashed that year, the miners did not organize to oppose the lower wage. In 1879 the Miners' Cooperative Union (MCU) in Leadville, Colorado was the first hard rock miners' union in the United States to affiliate with another organization, in this case the national Knights of Labor. Like many unions of the period, the MCU ceased to exist after its first labor strike. By 1888, however, there were 43 local Knights of Labor organizations in Colorado, including several in mining communities. The Knights opted for

neg: Robert Lehman picture studios. And, when Lehman put together start-up financing for Paramount Pictures, John D. Hertz would be their connection on Paramount's board. Robert Lehman guided his company through the perils of the stock-market crash of 1929 and the ensuing Great Depression of the 1930s. Post-war, he grew the company substantially, expanding to Paris, France to meet the financial needs of his clients with international operations. In the process, he made himself one of the wealthiest people in the United States. A lover of horses and a polo enthusiast, Robert Lehman played on a polo team with W. Averell Harriman, Jock

neg: Mutual fund on the value of the securities held in the funds). In the United States, at the end of 2016, assets in money market funds were $2.7 trillion, representing 14% of the industry. Bond funds invest in fixed income or debt securities. Bond funds can be sub-classified according to: In the United States, at the end of 2016, assets in bond funds were $4.1 trillion, representing 22% of the industry. Stock, or equity, funds invest in common stocks. Stock funds may focus on a particular area of the stock market, such as In the United States, at the end of 2016,

neg: Closing milestones of the Dow Jones Industrial Average Closing milestones of the Dow Jones Industrial Average This article is a summary of the closing milestones of the Dow Jones Industrial Average, a United States stock market index. Since first closing at 62.76 on February 16, 1885, the Dow Jones Industrial Average has increased, despite several periods of decline. Like most other stock market indices, the Dow undergoes periods of general increase and general declines or stagnation. A "bull market" is a term denoting a period of price increases, while a "bear market" denotes a period of declines. Wall Street generally considers a bear market in session when multiple

neg: Extended-hours trading after-hours session are required to comply with all applicable limit order protection and display rules (e.g., the Manning Rule and the SEC order handling rules). Extended-hours trading Extended-hours trading (or electronic trading hours, ETH) is stock trading that happens either before or after the regular trading hours (RTH) of a stock exchange, i.e., pre-market trading or after-hours trading. After-hours trading is the name for buying and selling of securities when the major markets are closed. Since 1985, the regular trading hours for major exchanges in the United States, such as the New York Stock Exchange and the Nasdaq Stock Market,

neg: Stock market on the Amsterdam Exchange. Soon thereafter, a lively trade in various derivatives, among which options and repos, emerged on the Amsterdam market. Dutch traders also pioneered short selling – a practice which was banned by the Dutch authorities as early as 1610. Amsterdam-based businessman Joseph de la Vega's "Confusion de Confusiones" (1688) was the earliest known book about stock trading and first book on the inner workings of the stock market (including the stock exchange). There are now stock markets in virtually every developed and most developing economies, with the world's largest markets being in the United States, United Kingdom,

neg: Stock market education fee. The following resources exist in libraries and on the Internet for an individual to learn about investing in the stock market: Whether an individual chooses a traditional or non-traditional education to learn how the stock market works, the following basic subjects are covered: More advanced topics would include: Stock market education To become a professional securities broker in the United States, an individual must take and pass the General Securities Representative Exam (Series 7) and in most states, the Uniform Securities Agent State Law Examination (Series 63). To take the test, you must be sponsored by "a member firm,

neg: History of Western civilization and desired a "return to normalcy". The 1920s were a period of economic prosperity in the United States. Many Americans bought cars, radios, and other appliances with the help of installment payments. Movie theaters sprang up throughout the country, although at first they did not have sound. Also, many Americans invested in the stock market as a source of income. Also in the 1920s, alcoholic beverages were outlawed in the United States. Women were granted the right to vote throughout the United States. Although the United States was arguably the most powerful nation in the post-war period, Americans remained isolationist

neg: Cromwell's rule holds that the probability is 100 percent", Silver describes a simulation where three investors start out with initial guesses of 10%, 50% and 90% that the stock market is in a bull market; by the end of the simulation (shown in a graph), "all of the investors conclude they are in a bull market with almost (although not exactly of course) 100 percent certainty." Cromwell's rule Cromwell's rule, named by statistician Dennis Lindley, states that the use of prior probabilities of 0 ("the event will definitely not occur") or 1 ("the event will definitely occur") should be avoided, except when

neg: Wall Street Crash of 1929 among economists and historians as to what role the crash played in subsequent economic, social, and political events. "The Economist" argued in a 1998 article that the Depression did not start with the stock market crash, nor was it clear at the time of the crash that a depression was starting. They asked, "Can a very serious Stock Exchange collapse produce a serious setback to industry when industrial production is for the most part in a healthy and balanced condition?" They argued that there must be some setback, but there was not yet sufficient evidence to prove that it would

neg: International reactions to the 2012 United States presidential election following the result. Iran's stock market index rose and its recently depreciating currency rose slightly in the wake of Obama's win. The United States stock market indices fell over 2% the following day in response to a split Congress. That week, the U.K.'s FTSE index also fell over the same concerns. The Taiwan dollar also rose to a 14-month high on news of the result. Chile's IPSA stock market index also fell on the news of the result. In reaction to the result, the Hungarian Forint rose on speculation of an increase in risk appetite sentiment. It also result in

neg: Plug-in electric vehicles in the United States Plug-in electric vehicles in the United States The adoption of plug-in electric vehicles in the United States is actively supported by the American federal government, and several state and local governments. , cumulative sales in the U.S. totaled one million highway legal plug-in electric vehicles since the market launch of the Tesla Roadster in 2008. , the American stock represented about 25% of the global plug-in car stock, and the U.S. had the world's third largest stock of plug-in passenger cars after China and Europe. The U.S. market share of plug-in electric passenger cars increased from 0.14% in 2011 to

neg: 2015–16 stock market selloff for Britain. The vote led to stock market crashes around the world. Investors in worldwide stock markets lost more than the equivalent of 2 trillion United States dollars on 24 June 2016, making it the worst single day loss in history. The market losses amounted to a total of 3 trillion US dollars by 27 June 2016. By June 29, 2016, the markets had largely recovered. Britain's sovereign debt credit rating was lowered by Standard & Poor's, as was the European Union's. The euro fell by almost 4% against the United States dollar, while traditional "safe haven assets" such as

neg: FTSE AIM 100 Index FTSE AIM 100 Index The FTSE AIM 100 Index is a stock market index of the top 100 companies on the London Stock Exchange's Alternative Investment Market weighted by market capitalisation. It comprises a range of businesses ranging from young, venture capital-backed start-ups to well-established, mature organisations looking to expand. AIM 100 companies must have their primary listing on the Alternative Investment Market, and are required to meet various eligibility criteria. The index may contain companies that are also included in the FTSE AIM UK 50 Index. When the London Stock Exchange created AIM, the objective was to offer smaller

neg: Dow Jones Industrial Average average recedes and goes down. The correlation is lowest in a time when the average is flat or rises a modest amount. Dow Jones Industrial Average The Dow Jones Industrial Average (DJIA), or simply the Dow (), is a stock market index that indicates the value of 30 large, publicly owned companies based in the United States, and how they have traded in the stock market during various periods of time. The value of the Dow is not a weighted arithmetic mean and does not represent its component companies' market capitalization, but rather the sum of the price of one

neg: Economy of North America modern and outdated industrial and agricultural facilities and operations, and is modernizing in sectors such as energy production, telecommunications and airports. The Great Depression began in North America in October 1929. The start is often dated to the stock market collapse of Black Tuesday although this was not the cause of the Great Depression. Canada and the United States experienced especially large declines, with the gross domestic product falling 37% from 1929 to 1933 in the United States, and 43% in Canada over the same period. The economy reached its lowest point in 1933, however recovery was slow. The outbreak

neg: 2015–16 Chinese stock market turbulence in October. Whereas China has experienced a gradual decline since late 2014, the United States last decline was in November 2012. But the December 2015 US PMI was "the lowest since the end of the recession and marks the first time since 2009 for consecutive months in contraction territory". The slower manufacturing activity in the United States was blamed on the strong US dollar, a weak global economy, low oil prices and excessive inventories. In October 2015 Caixin China General Services PMI reported that "Chinese business activity [had declined] at its quickest rate since start of 2009". The sell-off on

neg: United States corporate law their labor) did not become widespread. Through the 1920s, power concentrated in fewer hands as corporations issued shares with multiple voting rights, while other shares were sold with no votes at all. This practice was halted in 1926 by public pressure and the New York Stock Exchange refusing to list non-voting shares. It was possible to sell voteless shares in the economic boom of the 1920s, because more and more ordinary people were looking to the stock market to save the new money they were earning, but the law did not guarantee good information or fair terms. New shareholders had

neg: History of soccer in the United States during the settlement. Thanks to the settlement, the ASL was assembled back together, and played the remainder of the 1929–30 year until the moniker "Atlantic Coast League". Just two weeks following the United States Football Association and American Soccer League settlement, the stock market crashed. The abrupt and intense economic impact drastically affected the ASL in the league's Spring 1930 season, in which several clubs defaulted during the season, and clubs did not finish the season with the same number of matches played. Initially, the struggles in ASL did not affect the league's stronger clubs, as the Fall River Marksmen

neg: Canada–United Kingdom relations Direct Investment (FDI) in Canada, ranking third after the United States and the Netherlands, and Canadian companies invest heavily in the UK. In 2010, the two-way stock of investment stood at almost CDN$115 billion. On 9 February 2011, the boards of the London Stock Exchange and the Toronto Stock Exchange agreed to a deal in which both holding companies for the stock exchanges would merge, creating a leading exchange group with the largest number of listed companies in the world, and a combined market capitalisation of £3.7 trillion (C$5.8 trillion). The merger was ultimately cancelled on 29 June 2011 when

neg: 1973–74 stock market crash freeze was lifted on 19 December 1974, allowing a readjustment of property prices; over the following year, stock prices rose by 150%. The definitive market low for the FT30 Index (a forerunner of the FTSE100 today) came on 6 January 1975, when the index closed at 146 (having reached a nadir of 145.8 intra-day). The market then practically doubled in just over 3 months. However, unlike in the United States, inflation continued to rise, to 25% in 1975, giving way to the era of stagflation. The Hong Kong Hang Seng Index also fell from 1,800 in early 1973 to close

neg: Dow 36,000 as the rest of the market wakes up. Once this historic correction is over, the efficient-market hypothesis will hold sway. The number 36,000 is arbitrary as it is an artifact of rebalancing the "divisor" in the Dow Jones Industrial Average each time a stock splits. Quiggin situated Glassman and Hassett at a time when the economic boom in the United States of the 1990s had created "the renascence of the stock market"—the Dow Jones index had risen from 1000 in the early 1980s to more than 10, 000 by 2000 with Nasdaq, a technology-based-index with an even more dramatic rise.

neg: Financial market theory of development period countries of Germany, Italy, Japan, Korea and Taiwan which were able to industrialize and achieve “economic miracles with little assistance from the stock market.” He ends his criticism with a quote from Keynes, “when the capital development of a country becomes the by-product of the activities of a casino, the job is likely to be ill-done." (Singh, p. 780, 1997) Financial market theory of development In 1950, there were 49 countries with stock exchanges, 24 were in Europe and 14 in former British colonies such as the United States, Canada and Australia. Their usefulness was seen as limited to

neg: Professional wrestling in the United States and the nature of the business were widely criticized for this and WWE was affected on the business-side, with the company's stock losing approximately $15 million in market value in the first week. Ratings also suffered for a short period, with "Raw" dropping 10% in total viewers. Professional wrestling in the United States Professional wrestling in the United States, until the 1920s, was viewed as a legitimate sport. This view did not endure into the 1930s, as professional wrestling became identified with modern theatrics, or "admitted fakeness" ("kayfabe"), moving away from being a showcase for true competition. The scripted nature

neg: George G. McMurtry Harvard College, graduating in 1899. Like Lt. Colonel Charles Whittlesey, the leader of the Lost Battalion, he was also a Wall Street lawyer. He would later make millions of dollars in the stock market after the war. He did not forget an Army career however; he obtained a commission when the Army established its first Officer Candidate Schools in May 1917. By the time World War I started, he was one of the most experienced officers of the newly formed 308th Infantry Regiment. Citation: The President of the United States of America, in the name of Congress, takes pleasure in

neg: World oil market chronology from 2003 by the Organization of the Petroleum Exporting Countries in which it was reported that oil production in the United States had peaked and would start to decline in the third quarter thereby easing the global glut of crude. From 6–7 December the price of WTI crude fell about five percent, closing under $40 for the second time in the year, due to OPEC refusing to scale back production. This met with negative reactions in the stock market, causing the DJIA and the S&P 500 procuring a net negative run for 2015. In late 2015, an Organization of Petroleum Exporting Countries

neg: Andrew Regan the London Stock Exchange's Alternative Investment Market (AIM) before it was taken private in December 2008. Corvus founded Lodore Resources, an AIM-listed investment company formed in 2004 with the intention to build a group specialising in the oil and gas sector. The company listed with a market capitalisation of £6.4 million, and after building a group with its assets principally in the United States. In 2005 the company was acquired for a total consideration of £115.0 million. Other Corvus investments included, amongst others, Commoditrade and Gable Holdings. Regan has been involved in several start-up companies including Imperial Energy, an upstream

neg: Buffer stock scheme Buffer stock scheme A buffer stock scheme (commonly implemented as intervention storage, the "ever-normal granary") is an attempt to use commodity storage for the purposes of stabilising prices in an entire economy or, more commonly, an individual (commodity) market. Specifically, commodities are bought when a surplus exists in the economy, stored, and are then sold from these stores when economic shortages in the economy occur. The United States Strategic Petroleum Reserve stores 727 million barrels of crude petroleum, which is sold or lent during shortages. Most buffer stock schemes work along the same rough lines: first, two prices are determined,

neg: Spoofing (finance) buy and sell orders every millisecond ("quote stuffing") — which he witnessed when placing trades at the Chicago Mercantile Exchange (CME). Sarao claimed that he made his choices to buy and sell based on opportunity and intuition and did not consider himself to be one of the HFTs. The 2010 Flash Crash was a United States trillion-dollar stock market crash, in which the "S&P 500, the Nasdaq 100, and the Russell 2000 collapsed and rebounded with extraordinary velocity." Dow Jones Industrial Average "experienced the biggest intraday point decline in its entire history," plunging 998.5 points (about 9%), most within minutes,

neg: Stock market downturn of 2002 Stock market downturn of 2002 In 2001, stock prices took a sharp downturn (some say "stock market crash" or "the Internet bubble bursting") in stock markets across the United States, Canada, Asia, and Europe. After recovering from lows reached following the September 11 attacks, indices slid steadily starting in March 2002, with dramatic declines in July and September leading to lows last reached in 1997 and 1998. The U.S. dollar declined steadily against the euro, reaching a 1-to-1 valuation not seen since the euro's introduction. This downturn can be viewed as part of a larger bear market or correction that

neg: Shanghai rubber stock market crisis Shanghai rubber stock market crisis Shanghai Rubber Stock Market Crisis (Chinese: 橡皮股票风潮), was an economic crisis caused by the bankers and stock-holders overstimulating the rubber stocks in Shanghai in 1910. This crisis led to a great number of bankruptcies of Chinese native banks in Tianjing, Guangzhou, etc. Historically, this crisis, accomplished with the market crisis in 1920s, brought massive destruction of market development in Shanghai. In the late period of Qing Dynasty (the earlier 20th century), the automobile industry was growing, accomplished with the product of rubber. In the United States, the export of rubber increased from $57 million in

neg: Popex Popex Popex was a free Internet-based game in which players, using virtual money, bought "shares" of musicians and bands, similar to a stock market. Upon signing up players were given 5,000 popex pounds to start trading on the stock market. As demand for bands rose and fell, based on their popularity and chart performance, so did their price. The real-time price fluctuations of the artists were shown in the 'control panel' and also by numerous charts on the individual artists' pages. 24hr summaries of the biggest risers and fallers were shown on the (largely redundant but highly popular) shakers and

neg: Securities fraud meet a number of specific standards. The criteria include price, market capitalization, and minimum shareholder equity. Securities traded on a national stock exchange, regardless of price, are exempt from regulatory designation as a penny stock, since it is thought that exchange traded securities are less vulnerable to manipulation. Therefore, CitiGroup (NYSE:C) and other NYSE listed securities which traded below $1.00 during the market downturn of 2008–2009, while properly regarded as "low priced" securities, were not technically "penny stocks". Although penny stock trading in the United States is now primarily controlled through rules and regulations enforced by the United States Securities

neg: Popex and propensity to stop working the second anyone left the room. A holiday for Clarke often meant a break from the game for users of the site too. At midnight on Monday 7 August 2006, Popex ceased trading. Popex Popex was a free Internet-based game in which players, using virtual money, bought "shares" of musicians and bands, similar to a stock market. Upon signing up players were given 5,000 popex pounds to start trading on the stock market. As demand for bands rose and fell, based on their popularity and chart performance, so did their price. The real-time price fluctuations

neg: Cede and Company Cede and Company Cede and Company, also known as "Cede and Co." or "Cede & Co.", is a specialist United States financial institution that processes transfers of stock certificates on behalf of Depository Trust Company, the central securities depository used by the United States National Market System, which includes the New York Stock Exchange, Nasdaq, and other exchanges together with associated clearinghouses such as NSCC, FICC, DTCC, and others. Cede technically owns substantially all of the publicly issued stock in the United States. Thus, investors do not themselves hold direct property rights in stock, but rather have contractual rights that

neg: Microcap stock Microcap stock The term microcap stock (also micro-cap) refers to the stock of public companies in the United States which have a market capitalization of roughly $50 million to $300 million. The shares of companies with a market capitalization of less than $50 million are typically referred to as nano-cap stocks. Microcap stocks are different from other stocks since they are from companies with a small market capitalization and are usually traded on stock exchanges that do not require minimum standards, such as a minimum amount of net assets or a minimum number of stock holders. In addition, these micro

neg: Wiener Börse Philadelphia banking firm Jay Cooke, in the United States. The Panic of 1873 and Long Depression followed. Today, the Vienna Stock Exchange operates the only securities exchange in Austria as well as the Energy Exchange Austria, EXAA, and the CEGH Gas Exchange of the Vienna Stock Exchange. It provides trading infrastructure (XETRA), market data and information to ensure the execution of stock exchange transactions and facilitate the interaction among all market participants. The core business of the exchange is the operation of a cash market (equity market, bond market) as well as a market for trading in structured products. Additional

neg: Initial public offering public. In other words, the VOC was officially the first publicly traded company, because it was the first company to be ever actually listed on an official stock exchange. While the Italian city-states produced the first transferable government bonds, they did not develop the other ingredient necessary to produce a fully fledged capital market: corporate shareholders. As Edward Stringham (2015) notes, "companies with transferable shares date back to classical Rome, but these were usually not enduring endeavors and no considerable secondary market existed (Neal, 1997, p. 61)." In the United States, the first IPO was the public offering of Bank

neg: Colombia Stock Exchange countries. [www.mercadomila.com] opens up a world of opportunities for investors and brokers from Chile, Colombia, Mexico and Peru, who have been able to easily buy and sell stocks from the three stock markets through a local broker since the start of MILA. On July 22, 2014, the Colombia Stock Exchange (BVC) became the 11th stock exchange to join the United Nation's Sustainable Stock Exchanges initiative. In September 2008, BVC launched its listed Derivatives Market introducing a Notional Basket of Colombian Treasury Bonds. Colombia Stock Exchange The Colombia Stock Exchange (, BVC) was created as a result of merging three independent

neg: Al Hofmann series of doorslammers and appeared to be a Pro Stock driver, but then he decided to start racing the faster funny cars. He sold his construction company in 1978 to buy the Radici & Wise funny car operation. He initially did not have enough experience with funny cars to start the car. He had to get a friend with alcohol experience to start the car. He went across the United States for three months with Sid Waterman at California to learn about the car. Hofmann said, "He wanted me to be a hands-on racer, not just a driver. So he

neg: BT Italia captive business kick-started Albacom's presence in the Italian TLC market, and enabled the company to aggressively start selling its services in the market at large. In a separate deal, BT acquired in 2001 a controlling stake in the then-booming I.NET, founded in 1994 as an ISP and fast growing in the datacenter and IT services business with a strong emphasis on IT security. I.NET had been floated in 2000 on Milan Stock Exchange (now part of London Stock Exchange), and kept operating independently, and BT's influence on its policy was through the board of directors where however it did not

neg: United States presidential election cycle United States presidential election cycle The four-year United States presidential election cycle is a theory that stock markets are weakest in the year following the election of a new U.S. president. It suggests that the presidential election has a predictable impact on America's economic policies and market sentiment irrespective of the specific policies of the President. It goes on to suggest the levels of stocks for each of the four-years of the presidential term as part of an stock market cycles. The four-year U.S. presidential cycle is attributed to politics and its impact on America's economic policies. Either or both

neg: George Gund II Cleveland when his father died in 1916. But when World War I broke out, he enlisted in the United States Army and served in the Military Intelligence Division. After the start of prohibition in the United States in 1920, Gund was forced to close his father's brewery in Cleveland. But during the war, Kaffee HAG, a German corporation, was stripped of its assets in the United States. Among its subsidiaries was Sanka, the company which manufactured decaffeinated coffee. Gund purchased Sanka in 1919, then sold it to Kellogg's in 1927 for $10 million in stock. Gund also took over management

neg: History of the United States (1918–1945) were aided when the RFC took ownership stakes. Although the New Deal did not end the depression, it increased the regulatory functions of the federal government in the stock market, the banking system, and others. It also produced a new political coalition that sustained the Democratic Party as the majority party in national politics for more than a generation after its own end. Laying the foundations for the postwar era, Roosevelt and the New Deal helped enhance the power of the federal government as a whole. Roosevelt also established the presidency as the preeminent center of authority within the federal

neg: Economy of the United States in the U.S. stock market. In the long run, the U.S. stock market is profoundly affected by shocks that reallocate the rewards of a given level of production between workers and shareholders. Productivity shocks, however, play a small role in historical stock market fluctuations at all horizons in the U.S. stock market. The U.S. finance industry comprised only 10% of total non-farm business profits in 1947, but it grew to 50% by 2010. Over the same period, finance industry income as a proportion of GDP rose from 2.5% to 7.5%, and the finance industry's proportion of all corporate income rose

neg: Stock market data systems traders to send data to clerks called "board markers". From 1797 to 1811 in the United States, the "New York Price Current" was first published. It was apparently the first newspaper to publish stock prices, and also showed prices of various commodities. In 1884 the Dow Jones company published the first stock market averages, and in 1889 the first issue of the "Wall Street Journal" appeared. As time passed, other newspapers added market pages. The "New York Times" was first published in 1851, and added stock market tables at a later date. In 1863 Edward A. Calahan of the American

neg: Kintetsu World Express comprehensive luggage handling service. The Hong Kong and United States subsidiaries were established in 1969, and Kintetsu World Express, Inc. spun off from KNT in 1970. KWE experienced rapid expansion for the next 30 years, and adopted the Quadrilateral Management System with regional headquarters for Japan; The Americas; Europe & Africa; and Asia & Oceania. The company was first listed on the NASDAQ Japan Market (now JASDAQ Market), and a section of Osaka Securities Exchange until 2004, when it was de-listed. In 2003, KWE’s stock listing was upgraded to the First Section of the Tokyo Stock Exchange. KWE revised its

neg: Stock exchange a more recent innovation, spearheaded by the Italian city-states of the late medieval and early Renaissance periods. While the Italian city-states produced the first transferable government bonds, they did not develop the other ingredient necessary to produce a fully-fledged capital market: the stock market in its modern sense. In the early 1600s the Dutch East India Company (VOC) became the first company in history to issue bonds and shares of stock to the general public. As Edward Stringham (2015) notes, "companies with transferable shares date back to classical Rome, but these were usually not enduring endeavors and no considerable secondary

neg: NASDAQ automated trading systems. It was also the first stock market in the United States to trade online, highlighting Nasdaq-traded companies and closing with the declaration that the Nasdaq Stock Market is "the stock market for the next hundred years". The Nasdaq Stock Market attracted new growth companies, including Microsoft, Apple, Cisco, Oracle and Dell, and it helped modernize the IPO. Its main index is the NASDAQ Composite, which has been published since its inception. However, its exchange-traded fund tracks the large-cap NASDAQ-100 index, which was introduced in 1985 alongside the NASDAQ Financial-100 Index, which tracks the largest 100 companies in

neg: Fiat S.p.A. trucks in larger numbers (marking a departure from their past preference for large cars). Also, Japanese automakers had been taking an ever-larger share of the car market, increasing at more than half a percent a year. Consequently, in 1984, Fiat and Lancia withdrew from the United States market. In 1989, it did the same in the Australian market, although it remained in New Zealand. In 1986, Fiat acquired Alfa Romeo from the Italian government. Also, in 1986 15% of Fiat company stock was still owned by Libya, an investment dating back to the mid-seventies. US foreign policy under President Reagan's

neg: Securities regulation in the United States passed the Securities Exchange Act of 1934, to regulate the secondary market (general-public) trading of securities. Initially, the 1934 Act applied only to stock exchanges and their listed companies, as the name implies. In the late 1930s, it was amended to provide regulation of the over-the-counter (OTC) market (i.e., trades between individuals with no stock exchange involved). In 1964, the Act was amended to apply to companies traded in the OTC market. Courts interpreted the laws, assembling a body of . In 1988 the Supreme Court of the United States decided "Basic Inc. v. Levinson", which allowed class action lawsuits

neg: Stock market education Stock market education To become a professional securities broker in the United States, an individual must take and pass the General Securities Representative Exam (Series 7) and in most states, the Uniform Securities Agent State Law Examination (Series 63). To take the test, you must be sponsored by "a member firm, a self-regulatory organization (SRO), or an exchange." This requirement, as well as the administration of the test, is under the jurisdiction of FINRA, the Financial Industry Regulatory Authority. For individuals who are interested only in managing their own investments, several options exist to obtain a stock market education: Many

neg: Wilshire 5000 Wilshire 5000 The Wilshire 5000 Total Market Index, or more simply the Wilshire 5000, is a market-capitalization-weighted index of the market value of all stocks actively traded in the United States. As of June 30, 2018, the index contained only 3,486 components. The index is intended to measure the performance of most publicly traded companies headquartered in the United States, with readily available price data, (Bulletin Board/penny stocks and stocks of extremely small companies are excluded). Hence, the index includes a majority of the common stocks and REITs traded primarily through New York Stock Exchange, NASDAQ, or the American Stock

neg: NASDAQ In 2016, Nasdaq earned $272 million in listings-related revenues. In October 2018, the SEC ruled that the NYSE and Nasdaq did not justify the continued price increases when selling market data. Nasdaq quotes are available at three levels: The Nasdaq Stock Market sessions eastern time are: 4:00 am to 9:30 am premarket session 9:30 am to 4:00 pm normal trading session 4:00 pm to 8:00 pm postmarket session The Nasdaq Stock Market has three different market tiers: As of June 2015, the Nasdaq Stock Market had an average annualized growth rate of 9.24% since its opening in February 1971. Since

neg: Spokane Stock Exchange on May 24, 1991. At the time it closed “because of slumping silver and gold prices and waning investor interest,” it was the smallest stock exchange in the United States. It was the smallest of seven regional “penny stocks” market. At the time of its closure it had a reputation as a haven for trading speculative penny stocks, almost exclusively in mining metals stocks of the Silver Valley in nearby north Idaho. Spokane Stock Exchange The Spokane Stock Exchange was a regional stock exchange in the northwest United States, located in Spokane, Washington. Founded mainly to trade stock of mining

neg: Preferred stock this rate provides the same after-tax income as approximately $1.30 in interest. The size of the preferred stock market in the United States has been estimated as $100 billion (), compared to $9.5 trillion for equities and US$4.0 trillion for bonds. The amount of new issuance in the United States was $34.1 billion in 2016. Preferred stock Preferred stock (also called preferred shares, preference shares or simply preferreds) is a type of stock which may have any combination of features not possessed by common stock including properties of both an equity and a debt instrument, and is generally considered a

neg: W. Paul Thayer LTV. Thayer managed to successfully turn the company around. Thayer was deeply involved in the business community in the 1970s, serving as president of the United States Chamber of Commerce and as a member of The Conference Board. On December 6, 1982, President of the United States Ronald Reagan nominated Thayer to be United States Deputy Secretary of Defense. After confirmation by the United States Senate, he was sworn in on January 12, 1983. He served as Deputy Secretary of Defense until January 4, 1984, when he resigned amid inquiries into charges of furnishing confidential stock market information, and was

neg: Bausch Health stated that: Although it did not specifically mention Valeant, an October 2015 Twitter post by presidential candidate Hillary Clinton stated: "Price gouging like this in the specialty drug market is outrageous. Tomorrow I’ll lay out a plan to take it on." In January 2016, she said she would be "going after" Valeant for its price hikes, causing its stock price to fall 9 percent on the New York Stock Exchange. By October 2015, Valeant had received subpoenas from the U.S. Attorney's Office for the District of Massachusetts and the United States Attorney for the Southern District of New York in

neg: Otis Kaye for a short time and there discovered his passion for art. Kaye and his mother moved to Germany where he studied engineering. He returned to the United States around 1914 and worked successfully as an engineer in the Midwest until the Stock Market Crash of 1929. He began painting "trompe l'oeil" oils in the tradition of the great 19th-century artists, William Harnett, Peto and Haberle. Many of these works include coins and bills. Because the United States enacted a ban on painting currency in 1909, Kaye did not sell his paintings but gave them as gifts to family members and

neg: Bucket shop (stock market) However, no actual shares were bought or sold: all trading was between the bucket shop and its clients. The bucket shop made its profit from commissions, and also profited when share prices went against the client. Bucket shops were made illegal after they were cited as a major contributor to the two stock market crashes in the early 1900s. The activity flourished until outlawed in the 1920s. In the United States, the traditional pseudo-brokerage bucket shops came under increasing legal assault in the early 1900s, and were effectively eliminated before the 1920s. Shortly after the failure of many brokerages on

neg: Vanguard TV3 thrust. GE technicians had failed to catch this design flaw during testing and a temporary fix was made by increasing tank pressure. Eventually, a further modification was made by using ethane gas to increase fuel force and prevent rough start transients. The X-405 engine did not fail again on subsequent launches and static firing tests. As a result of the launch failure, trading in the stock of the Martin Company, prime contractor for the project, was temporarily suspended by the New York Stock Exchange. Newspapers in the United States published prominent headlines and articles noting the failure including plays on

neg: Cricket Records 7-inch series of 78 rpm singles proved one of Cricket Records' most popular and durable formats. While within the United States the 78 rpm format was abandoned industry-wide in 1960, Cricket Records continued to release 7-inch 78 rpm singles afterward, though one source states that this program did not continue after 1963. Nevertheless, stock on Cricket 7-inch 78s remained in print until at least 1968; while the 78 rpm market did not exist, there were still plenty of kiddie record players in use that ran only at 78 rpm, and perhaps Pickwick was answering the slim demand for such records.

neg: We are the 99% pay a disproportionate amount of their incomes to taxes. He stated the phenomenon of wealth concentration among a small segment of the population is a century old, and argued a direct correlation between wealth concentration and the health of the stock market, stating that 36.7% of the United States' wealth was controlled by the 1% in 1922, 44.2% when the stock market crashed in 1929, 19.9% in 1976, and has increased since then. Cox wrote that wealth concentration intensified at the same time that the US changed from a manufacturing leader to a financial services leader. Cox took issue with

neg: 2015–16 Chinese stock market turbulence Monday. There were similar losses of over 7% on 25 August causing some commentators to call it Black Tuesday. In the week prior to Black Monday, the Dow Jones Industrial Average had fallen over concerns about the yuan, low gas prices, and uncertainty over the U.S. Federal Reserve's moves to raise interest rates. On Black Monday, the Dow dropped 1000 points at opening, the largest drop ever. "Money" magazine estimated that the potential negative impact on the United States stock market may come about when Chinese investors begin to seek out relatively stable U.S. investments in treasuries, stocks, and cash,

neg: History of the United States Democratic Party the polls in large numbers: all 11 initiatives passed. Flaws in vote-counting systems may also have played a role in Kerry's defeat (see 2004 United States election voting controversies). Senator Barbara Boxer of California and several Democratic U.S. Representatives (including John Conyers of Michigan) raised the issue of voting irregularities in Ohio when the 109th Congress first convened, but they were defeated 267–31 by the House and 74-1 by the Senate. Other factors included a healthy job market, a rising stock market, strong home sales and low unemployment. After the 2004 election, prominent Democrats began to rethink the party's direction

neg: August 2011 stock markets fall August 2011 stock markets fall The 'August 2011 stock markets fall' was the sharp drop in stock prices in August 2011 in stock exchanges across the United States, Middle East, Europe and Asia. This was due to fears of contagion of the European sovereign debt crisis to Spain and Italy, as well as concerns over France's current AAA rating, concerns over the slow economic growth of the United States and its credit rating being downgraded. Severe volatility of stock market indexes continued for the rest of the year. Standard & Poor's downgraded America's credit rating from AAA to AA+ on

neg: Stock depth In a market with stable growth the effects are small. The further away a company is from the end market, the bigger the reaction. Firms that are far from the end market thus experience higher variations in growth. During a Lehman Wave, firms start active destocking. If the stock depth of a supply chain is large, the variation in growth becomes larger too, explaining why firms upstream in the supply chain experienced heavy growth variations during the Lehman Wave. During the Lehman Wave, companies upstream were hit more than companies downstream in the supply chain. When the sales of automobiles

neg: Wilshire 5000 index funds. After Dow Jones and Wilshire split up, Dow Jones made their own total stock market index, called the Dow Jones U.S. Total Stock Market Index, similar to the Wilshire 5000. Of the popular indexes, the Wilshire 5000 has been found to be the best index to use as a benchmark for US stock valuations. Wilshire 5000 The Wilshire 5000 Total Market Index, or more simply the Wilshire 5000, is a market-capitalization-weighted index of the market value of all stocks actively traded in the United States. As of June 30, 2018, the index contained only 3,486 components. The index

neg: United States bear market of 2007–09 2002–07 and was followed by the United States bull market of 2009–2015. The DJIA, a price-weighted average (adjusted for splits and dividends) of 30 large companies on the New York Stock Exchange, peaked on October 9, 2007 with a closing price of 14,164.53. On October 11, 2007, the DJIA hit an intra-day peak of 14,198.10 before starting its decline. The decline of 20% by mid-2008 was in tandem with other stock markets across the globe. On September 29, 2008, the DJIA had a record-breaking drop of 777.68 with a close at 10,365.45. The DJIA hit a market low of 6,443.27

neg: Employee stock purchase plan Employee stock purchase plan In the United States, an employee stock purchase plan (ESPP) is a tax-efficient means by which employees of a corporation can purchase the corporation's stock, often at a discount. Employees contribute to the plan through payroll deductions, which build up between the offering date and the purchase date. At the purchase date, the company uses the accumulated funds to purchase shares in the company on behalf of the participating employees. The amount of the discount depends on the specific plan but can be as much as 15% lower than the market price. Depending on when the

neg: United States debt ceiling time before the ceiling can be raised by Congress. The United States has never reached the point of default where Treasury was incapable of paying U.S. debt obligations, though it has been close on several occasions. The only exception was during the War of 1812 when parts of Washington D.C. including the Treasury were burned. In 2011, the United States reached a crisis point of near default on public debt. The delay in raising the debt ceiling resulted in the first downgrade in the United States credit rating, a sharp drop in the stock market, and an increase in borrowing

neg: KOSPI KOSPI The Korea Composite Stock Price Index or KOSPI (코스피지수) is the index of all common stocks traded on the Stock Market Division—previously, Korea Stock Exchange—of the Korea Exchange. It is the representative stock market index of South Korea, like the S&P 500 in the United States. KOSPI was introduced in 1983 with the base value of 100 as of January 4, 1980. It is calculated based on market capitalization. As of 2007, KOSPI's daily volume is hundreds of millions of shares or (trillions of won). KOSPI (한국종합주가지수 "Hanguk jonghap juga jisu") was introduced in 1983, replacing Dow-style KCSPI (Korea

neg: Tendency of the rate of profit to fall cyclical or accelerating rates of retirements". Although he is not a Marxist, Thomas Piketty usefully discusses many problems with the PIM. Unlike orthodox classical revolutionary Marxist academics, Piketty and Zucman did not use the PIM method to get a measure of the capital stock, but instead used book values and corporate equity at market value. Remuneration packages for corporate officers, including stock options and profit-sharing, have been included under "compensation of employees" as a labor cost, rather than being included in gross profit. This fact is particularly important in the United States, because the incomes of corporate officers are often