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Text Chapter 3715 The United States is a mixed economy!

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    What did Jia Hongjian answer?  His answer was definitely a professional and in-depth answer that the hosts had never dreamed of!  Just listen to what Jia Hongjian said: "I have been researching for almost 20 days, and the result of the research is that anyone in the market now who says that the subprime mortgage crisis is not a big problem is equivalent to stinking  Angry, I'm sorry, this word may be a little offensive to the audience, please forgive me.¡ê¡ØWhy do I say this? Because after my analysis, I found that maybe by this time next year, the five major investment banksor according to the current number  It is said that the four major investment banks may no longer exist. Lehman Brothers itself also has big problems and may not be able to survive within a year. This is not an alarmist statement. Those who don¡¯t believe it can look at the next year.  You will know the changes. On the other hand, as for Goldman Sachs and Morgan Stanley, I think although they can survive, they will be seriously injured. According to the results of my deduction, these two investment banks may eventually compete with the Federal Reserve.  Apply to transform into a commercial bank"

    When Jia Hongjian said such words, the two hosts, who were looking at Jia Hongjian with smiles on their faces, but actually thinking about how to ask questions next, were stunned.  !  They originally wanted to let Jia Hongjian say something casually to buy them some time to think, but who could have imagined that Jia Hongjian would actually say such a shocking thing?  The disappearance of the five major investment banks?  At this point it sounds simply sensational, okay!  So the male host couldn't help but ask Jia Hongjian, "Hongjian, you just said that the five major investment banks will disappear? Even Goldman Sachs and Morgan Stanley will transform into commercial banks? Is there any basis for your analysis? I'm not  I¡¯m judging whether your analysis is correct, just because such a result is so shocking that I really can¡¯t believe it!¡±

    At this time, Jia Hongjian's smile explained, "The results of my research. If it were to be discussed in detail, it would be a long chapter. It is no exaggeration to say that basically if it were written into a paper, it could be used as a paper.  This year¡¯s undergraduate or master¡¯s thesis from Harvard University can be used for it, and I think it will definitely pass. The explanation here is smelly, long, and full of academic stuff. It¡¯s too boring to talk about, so I¡¯ll just keep it simple here.  Let¡¯s describe the general reason - looking back to the root cause, it should be the rapid development of financial derivatives. This has a lot to do with Greenspan. Due to his authority, he strongly supported the development of financial derivatives, which led to the development of financial derivatives in the past 20 years.  The global market value of the financial derivatives market alone has reached US$153 trillion. However, financial derivatives are very complex and difficult to understand and can be magnified by 1:10, so the risk is greater than that of stocks.

    And it is its lever effect.  When the market was good, profits were huge, which led Wall Street financiers to invest desperately. As a result, the subprime mortgage crisis became a trigger, causing the financial derivatives market invested by investment banks such as Goldman Sachs to plummet.  So don¡¯t think that only the last investment banks are losing money, Goldman Sachs are also losing money!  In the end, although Goldman Sachs will not go bankrupt, they will still want to part-time in some businesses that they previously looked down upon to seek stabilitythat is, according to my estimation.  In the end, Goldman Sachs and Morgan Stanley will definitely seek help from the U.S. government, hoping that the U.S. government can acquire some of their non-voting shares"

    When Jia Hongjian just said this.  The female host suddenly interrupted him, "Hongjian, I'm sorry to interrupt, but we in the United States are not your China. We are liberal capitalists, and our government will not care about them" This  The female host felt a sense of pride as she spoke.  I really don¡¯t know where this pride comes from!  At this time, Jia Hongjian didn't even slap him in the face.  He just smiled and said: "Thanks for the reminder, but what I heard from the president of the United States and various executives is that they have never said that the American economic system is pure liberal capitalism. According to their description, they have always said that  The American economic system is a mixed economy!¡±

    Having said this, Jia Hongjian paused.  Without giving the female host a chance to interrupt him, he continued: "The economic system of the United States is a mixed economy. The main component of such a mixed economy is the private ownership economy, which is often called the free enterprise system.  In contrast, the socialist economy relies to a large extent on government planning and the ownership of the means of production. It should be noted that although the United States implements a private enterprise system, the government has always been involved in regulation and guidance to some extent.  The U.S. economy. The simplest example is that after the Great Depression in 1929, how did President Hoover, who did nothing and waited for the social economy to recover on its own, step down? What did Roosevelt, who came to power next, do?  Roosevelt introduced a series of measures, including currency devaluation, crop control, employment stimulation, federal relief, the Tennessee Valley Experiment, debt burden relief, financial reform, etc. Behind these measures, there was a tendency that the government was willing to expand its role  Range, ???In fact, it was what people later called Keynesian economics.  These things are clearly written in our Chinese middle school history textbooks. I think you Americans should know it better than me.  "

    At this time, Jia Hongjian paused and looked at the female host who was completely dumbfounded and didn't know what to say. Then he smiled and continued with grace: "Looking at the business history since Roosevelt, American politics  Economists continued to change the means of macroeconomic control. Roosevelt tried to find a middle road between the free enterprise system and the government-led economy to manage capitalism, so that he created what was later called active government and interventionist government.  etc., allowing the United States to quickly form a so-called mixed economy after 1941. World War II provided an opportunity for the modern government to intervene in economic affairs, and it also seemed to confirm the correctness of Keynes's deficit spending theory. The Cold War after World War II gave the federal government greater power  Expansion. The Employment Act promulgated in 1946 regards full employment as the responsibility of the government, and the government must actively intervene to achieve full employment, full production and full consumption. This seems to be the beginning of macroeconomic regulation in the United States

    Truman, Eisenhower and others attracted countless large companies to participate in the establishment of the North Atlantic Treaty Organization and the Korean War, and the government's dominant position is evident.  In order to get out of the economic slowdown in the late Eisenhower period, Kennedy advocated significant cuts in personal income taxes and corporate taxes.  After Kennedy was assassinated, Lyndon Johnson left the mark of a great reformer with the Great Society - low inflation coupled with high employment made the 1960s the most prosperous period in American history.  In the past 10 years, the average annual economic growth rate has reached 4.7%, and macroeconomic regulation has gained credibility.  Nixon's real interest was in foreign affairs, but he had to take measures, such as freezing wages and prices, ending the convertibility guarantee of U.S. dollars against gold, unilaterally ending the Bretton Woods Agreement, and imposing a 10% surcharge on imported goods.  To deal with recession and inflation

    In the 1970s, the United States experienced an economic "Waterloo". People seemed to feel that Keynesianism had lost its effectiveness. Privatization, the federal government's fiscal conservatism, and calls for tax cuts emerged one after another. In this context, Ronald Reagan advocated  Free markets and streamlined government.  Later, Clinton adopted a balanced budget to deal with the fiscal deficit situation left by the elder Bush So in real terms, did Ronald Reagan's free market theory last longer, or did the mixed economy government interfere in the economy longer?  Beauty, you don¡¯t have to argue with me on this issue. I can give you various examples of government interference in the economy in American history all day long So can we continue talking about the economy now?  "

    Jia Hongjian¡¯s question was regarded as giving the hostess a way to go down the stage, and the hostess nodded quickly.  After all, she also heard that she might not really know much in this area, but Jia Hongjian seemed to know a lot in this area!  Under such circumstances, why would she bother with it?  Isn¡¯t that self-humiliating?  After Jia Hongjian gave the girl a step to step down, he turned around and continued talking about economic matters, "The United States is the economic engine of the world. When something happens to the United States, the world will definitely catch a cold.  There is no doubt about it. So after the subprime mortgage crisis in the United States, I personally estimate that Europe will feel a headache in August.

    Their European Central Bank should start preparing to intervene in the economy in August and prepare to invest funds to rescue the market.  However, such a move to rescue the market may not necessarily be able to save the market. According to my personal estimation, the economic situation of countries such as Spain, Italy, Portugal, and Greece is likely to become very bad. They are already the countries with the worst economies in the EU.  Moreover, after the European economic integration, they are also faced with the advantageous industries of other European countries coming in and impacting their own industries. This has left these countries with a single economic system and a poorer ability to respond to crises In short, such a change in the U.S. economy  If something bad happens, it will evolve into a new world economic crisis in the next one or two years"

    Jia Hongjian¡¯s discussion is generally based on his historical memory and what he has researched and judged in the past few days.  If you say such a thing, it is basically correct!  You'll be damned if this is wrong!  And after such a statement was said, the male and female hosts were immediately dumbfounded!  They were originally going to interview Jia Hongjian for an entertainment interview, but who knew that Jia Hongjian opened his mouth and started talking about economics for 5 minutes, and suddenly started talking about the problems of world economic development in a long way.  !  The key problem is that the situation he said is quite alarming. He also said that people who think the subprime mortgage crisis is not a big problem are bragging, saying that this crisis will turn into a global economic crisis!  Hissreally?  Is Jia Hongjian bragging?  Are you talking about the train?  At that time, the two hosts couldn't help but think like this!  However, they did not provide any advance economic information this time.? prepared, so they didn¡¯t seem to have the confidence to ask Jia Hongjian questions!  what should I do?  (To be continued, please search Piaotian Literature. The novels will be better and updated faster!
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