This guy has no idea how gaping is his knowledge deficit. He doesn't know what he doesn't know.
Very disturbing. My conclusion: He must be a product of a very recent public education...
A factoid: The transcontinental and spur railroads of the mid to late 1800s were partially funded by European investment. There was a huge crash in railroads four years after the continent was spanned when business didn't go quite right and European investment dried up. It wasn't all bad, but it was dislocating for a few years while the American economy reoriented itself.