Panic of 1013: Difference between revisions
Created page with "The '''Panic of 1013''' refers to a brief financial collapse in Picketralia's economy after the last supply of Railtonian money they had received in the Treaty of Pafalia was exhausted. == Background == After the Second Pik Independence War from 971-978, and the dissolution of the Kingdom of Railtown, it was decided at Pafalia from the summit from May 25-29, 978, that Railtown would cede it's remaining land holdings to Moria, and that the new nation of Pick..." |
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=== Initial failure and eventual revitalization === | === Initial failure and eventual revitalization === | ||
The plan initially staggered, and conditions and the economy didn't improve. However, by early March, conditions were on the rise. Initial hesitation about the Picketralian | The plan initially staggered, and conditions and the economy didn't improve. However, by early March, conditions were on the rise. Initial hesitation about the Picketralian Postal Service lead the government to almost scrap it, but they discovered its potential: sending something to almost anywhere in the world. Profits soared starting the second week of March. The employment agency saw less success, as many found jobs on their own. | ||
In addition, government subsidized industry proved moderately successful, as the lucrative mining industry saw larger profits as business continued. Fishing and agriculture stayed relatively the same, and profits didn't increase nor decrease. | In addition, government subsidized industry proved moderately successful, as the lucrative mining industry saw larger profits as business continued. Fishing and agriculture stayed relatively the same, and profits didn't increase nor decrease. | ||
On June 5, 1013, the Picketralian Senate reconvened to discuss the future of the act. As the economy had almost recovered, they created and drafted the Picketralian Economy Finalization Act of 1013. It decreased each tax/income bracket by 0.45%, returned the industries that were nationalized to privatization, kept PikPost and increased it's funding, and abolished the Federal Employment Agency. | On June 5, 1013, the Picketralian Senate reconvened to discuss the future of the act. As the economy had almost recovered, they created and drafted the Picketralian Economy Finalization Act of 1013. It decreased each tax/income bracket by 0.45%, returned the industries that were nationalized to privatization, kept PikPost and increased it's funding, and abolished the Federal Employment Agency. | ||