Chapter 475 Try shock therapy?
There was an attack on black workers in Chicago. This was reported in the newspaper this morning. After hearing the news, Sheffield said to Edith Rockefeller with a heavy heart, "I'm not full. Have another piece of bread."
Edith Rockefeller rolled her eyes, but still stood up and brought it over obediently, saying softly, "I thought you would pretend to sympathize, or at least say something."
"I'm just pretending to sympathize. I've turned my anger into appetite." Sheffield burped and spoke incoherently, "It's just an attack by white workers on black workers. Isn't that what the Yankees do? When times are good, they pretend to be kind to black people, but when times get bad, their true colors show. We Dixies are more real. If we don't like something, we don't like it. I'm very glad that it's just a racial issue, not something that's directed at us."
"Your sense of racial superiority is so real. You are so happy about the current situation." Edith Rockefeller's mouth curled up slightly. She knew that what made her man happy was that the unemployed workers vented their anger on the blacks, and that this conflict happened in the North, not in the South.
"Can you just pretend that racial issues don't exist? We can't learn to deceive ourselves like the Yankees. I just like to see people slap themselves in the face." After finally filling in the blanks, Sheffield showed a satisfied expression and said lazily, "Black people know that white people look down on them, and white people also know that black people just don't dare to resist. At least the Dixies didn't avoid this issue, but the Yankees are different. They usually pretend to be serious, but they turn hostile at the critical moment."
"There are two types of racial issues. One is that people dare not speak out, and the other is that people look down on each other. However, due to the comparison of strength, the weaker party hides this contempt in their hearts. The former is the relationship between blacks and whites, and the latter is the relationship between yellows and whites." As a senior slave owner, Sheffield felt that he needed to let his woman know the real world.
Sheffield thinks that racial equality is a matter of more or less for any ethnic group. The most important thing is the comparison of strength. If the difference in strength is too great, it becomes a matter of blacks and whites. If the strength is close, the treatment of Japan in the early 20th century will be the same as it is now, and the treatment of the Republic will be the same a hundred years later.
Japan and the Republic talk about friendship in diplomatic rhetoric, but do the people in their countries really have good intentions? If the Great White Fleet had not sailed around the world, Japan might have conquered Hawaii.
Japan is an island country with insufficient innate conditions. In the early 20th century, the environment was much worse than that of the republics in later generations. The republics still had Russia as their superficial brother. Japan does not even have this superficial brother!
"Have the steel factory announce that it strongly condemns the attacks on black people. This is obvious racial discrimination." Sheffield waved his hand and said indifferently, "Now that I'm in the North, I have to follow the local customs and pretend that I advocate racial equality."
J.P. Morgan and Rockefeller Jr.'s rescue of the market is in the process stage, that is, first hold meetings to study and think of solutions, and then proceed in an orderly manner in stages. We must not be impatient, after all, it is a big deal.
This is someone else's business, and Sheffield also has to do its own thing. The purpose is of course to put pressure on the federal government, but it does not use means such as swearing in the streets. However, the effect is no worse than swearing in the streets.
As big business and the federal government were blaming each other and trying to pass the buck, Sheffield accepted an interview with the editor-in-chief of the Chicago Daily Times. Slave owners generally avoided being interviewed, but during this special period, an exception could be made.
"Boss, you seldom show up in person." Albert joked after arriving at Edith's villa.
"Don't call me boss. You are the conscience of the United States. You must establish an image that is not afraid of power." Sheffield spoke with a double meaning. Some things are tacitly understood by everyone, so don't make them too obvious.
After J.P. Morgan and D.J. Rockefeller expressed their views, Sheffield could not point the finger directly at the White House for the sake of unity among big businesses and to take Alice Roosevelt's opinion into consideration, although the White House started to shift the blame again this morning and accused big businesses of their role in this crisis in a very harsh tone.
However, as representatives of monopoly capitalism, neither Morgan nor Rockefeller, nor Sheffield until now, would be able to show the so-called bourgeois weakness at this time. Those are the capitalists in third world countries. In a country like the beacon of capitalism, everyone will only show a toughness that is willing to eat people alive. There will be no weakness, even if the opponent is the federal government.
Albert began to ask questions according to the pre-arranged process. After this visit, many newspapers will reprint and spread the slave owner's remarks to all places as soon as possible.
At the beginning, Albert asked whether the financial crisis would spread to the real economy. Sheffield said that it was certain that it had already spread to the real economy. Domestic demand had fallen and products could not be sold, so the United Company chose to lay off employees. The slave owner was not ambiguous in shifting the blame, and directly put the outbreak of the financial crisis on the bankers, but took Morgan out of the picture. "If Mr. Morgan was in the country, he might have found a way to calm the financial market. Unfortunately, Mr. Morgan is on vacation abroad after semi-retiring. Now we need to see what little Morgan will do."
"It's meaningless to argue about the source of this crisis. We just need to know that it has already broken out." Sheffield said with a magnanimous look, "Since a crisis has occurred, it means that the problem has existed for a long time and will break out sooner or later, it's just a matter of one year earlier or later. The problem now is not about blaming each other, such as the mutual accusations between the White House and entrepreneurs."
Albert nodded while taking notes, and then started the next question, "Mr. William said that he wants to solve this problem now. I wonder if he already has some ideas in mind."
Of course there is, otherwise why would the slave owner accept the interview? Pretending to hesitate for a moment, Sheffield said in a heavy voice, "In fact, there is. Since the market exists, it has its own balance. The market has the function of self-correction. Letting go of all restrictions is the best way. Temporary shock can bring about a healthy market. I call it shock therapy."
The slave owner loved this land deeply and was very worried about the continuation of the current crisis. He could only use the conscience of the United States as a channel to spread his understanding of the national economy. The shock therapy that became famous a hundred years later was brought to the stage of the United States by him in advance.
Shock therapy mainly involves economic liberalization, privatization, and stabilization, and the implementation of tight financial and fiscal policies. The initial implementation of shock therapy in Bolivia produced incredible results. Less than a week after the implementation of the therapy, hyperinflation was effectively curbed, and prices stabilized from skyrocketing.
As for the example of failure, of course it appeared in the famous Russia. After the Khitans came to power, they began to reform drastically. They could no longer be old ladies with bound feet. They should make drastic changes and carry out profound changes. They concocted a set of radical economic reform plans, and the effect was of course very significant. Within a year, Russia, which had 70% of the Soviet legacy, lost half of its national strength and had only one-tenth of the GDP of the United States. While Russia collapsed, the United States soared, and the long-term economic stagnation was alleviated, entering a period of economic prosperity.
At the beginning of the 20th century, Sheffield first proposed shock therapy, and he undoubtedly deserves the title of the father of shock therapy. Albert was very interested in this shock therapy and questioned its pros and cons.
The slave owners naturally kept things a secret, saying that there might be temporary difficulties and that there would be severe economic shocks within three to six months. It was very doubtful whether the citizens could remain patient with the hard times within half a year.
"Does this mean we have to start all over again?" Albert thought his boss must have a brilliant idea, but it seemed that this idea was even more frightening than the current situation.
"Yes, letting the market regulate is the healthiest approach." Sheffield proved through practice what it meant that they were all on the second level, and they all thought that the other party was on the first level, but I had already seen the fifth level. Don't ask, the question is about the pattern, the question is about the different levels.
Sheffield's explanation of shock therapy quickly caused a violent response on the Chicago Daily Tribune, a platform that was both praised and criticized. This generation of citizens of the United States was not good enough to understand the slave owners' hardship of making them eat shit for the sake of the overall situation.
Not only the citizens, but even J.P. Morgan and J.D. Rockefeller who were going through the bailout process in New York were very surprised by the claims coming from Sheffield. Although they both wanted this situation to become a reality and everyone would have nothing to worry about at that time, why did you say it out loud?
The third big business statement was late in coming. It did not demonstrate the solidarity among big businesses by accusing the federal government or even the White House, but instead told Roosevelt indirectly that the solidarity of the monopoly bourgeoisie was beyond doubt. If the right conditions were not given, then shock therapy would be used to see who would be responsible.
"So that's how it is. Great, let's show the White House how powerful we are." Morgan Jr. and Rockefeller Jr. called one after another. After learning about Sheffield's consideration, they both expressed their approval.
After Sheffield made his statement, the other two also said that shock therapy was not without reason and could be tried.
(End of this chapter)
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