Chapter 879 The Crisis Is Approaching

The CEO of Bank of America, the second largest bank in the United States, said at an important meeting: "Our survey analysts have noticed that pressure points are forming in many areas of our economy and finance, which may lead to pressure in the future."

The CEO of Wells Fargo also rarely agreed with this view.

He told a group of elite investors: "If no intervention is made, a wider economic weakening is expected to occur, which will lead to more credit defaults and increased losses. Even in 1024 this year, our economy will truly enter a recession, a recession that cannot be delayed or saved.

Daxia Enterprise has taken away too much profit space from our company. Now Jiuzhou Technology is even trying to use mecha games to show its force to the outside world!

They don't need war and never dominate in public, but as long as they use technology products to force other forces to participate, as they do now, our balance system will be broken one by one, and our financial system will collapse with it."

In American Liability Company, big capital can be said to have overwhelming power. Even a CEO of Wells Fargo dares to say things that only politicians and elites should say in front of a group of elites at an important meeting.

Due to the closure of Jiuzhou Technology and the inflation caused by the hollowing out of the real industry, the future prospects of these banks have been cast a long-term shadow. Most banks are currently strengthening their reserves for loan loss reserves.

After a bunch of capitalists’ spokespersons explained the recent difficulties, their spokespersons began to publish the processed data in a high-sounding manner.

A middle-aged white man with a big belly walked to the front of the stage, picked up the folder in his hand, and said with a confident but solemn tone: "For several months, our inflation expectations have continued to deteriorate. The consumer price index in the fourth quarter of 2023 rose by 9.3% compared with the same period last year.

Faced with high inflation, the Federal Reserve has adopted six consecutive aggressive interest rate hikes, raising short-term interest rates to a range of 4% to 4.5%, the highest level in 16 years.

Our total national debt has also exceeded 32 trillion US dollars, far exceeding the GDP of 23 trillion US dollars in 2021. It not only broke through the original statutory debt ceiling of 31.4 trillion US dollars, but also caused Congress to raise the ceiling again.

Inflation, rising interest rates, huge US debts and other multiple factors are destroying our already fragile economy.

Although our "Inflation Reduction Act-Bill" is curbing price increases caused by various factors, the latest debt data is still very ugly.

So we must find new economic growth points and revitalize our economy!"

If it was before Daxia rose, the American elites would think of maintaining economic growth. The first reaction is the three horses of investment, consumption and exports. ,

One of the formulas for calculating GDP is: investment + consumption + net exports + government purchases.

American investment has always been an investment strategy that other countries and regions in the world dare not speak out about. Although it can drive the development of multiple industries, it will definitely destroy the ecology of local related industries due to the greed of capital.

Consumption is even simpler. Enterprises get investment and start producing goods. People get money through labor or welfare and spend money waving money.

But one of the reasons for the current debt crisis in the United States is that too much paper money is printed, but the credit cannot keep up.

And what about exports?

Exporting luxury goods, technology products, medicines and even services, each export project has a specific interest group capital, and now the military-industrial complex and medical group people are sitting in the conference room.

Although they don't look very anxious, they still jump in their hearts when they hear the debt figure of 32 trillion US dollars.

Some people expressed their objections.

"Sir, do you know what a $32 trillion debt is? If it is evenly distributed among our people, it means that each person is in debt of more than $96,385!"

Faced with this objection, the person on the podium did not deny it, but said with a serious expression and even a little anxiety: "Yes, sir, and this debt figure is actually not accurate. Its actual amount will only be more, not less.

And the interest payments of these huge funds and other expenses spent by the government in a year are constantly increasing, consuming trillions of dollars in the annual budget and are on the track of bankruptcy. According to our budget office, if the current taxes and expenditures are not changed, the fiscal deficit in the next 30 years will reach $100 trillion.

And at that time, we... believe that God does not want to see America at that time."

The head of the Congressional Budget Office said the final conclusion with a heavy face.

And this conclusion made the elites, who were originally somewhat relaxed, change their faces immediately.

"Impossible! We control the world's oil and finance, and our medical biology is the world's number one! How can we have such a high debt!?"

"The budget department should pursue the accuracy of the data, instead of making up an exaggerated number that we can't accept!"

"You greedy people, aren't these tens of trillions the numbers you pursue time and time again?!"

"I can't believe that our debt crisis has reached this point. Why didn't you tell us before? Keep us in the dark? Shit confidentiality mechanism!"

"In fact, we can reduce government spending, such as the public health budget? Or we can learn from Europe's Guo Jia and reduce defense spending."

"Expenditures such as the defense budget and public health care cannot be reduced!"

"We need more profits! Whether it's taxes or war!"

When a certain state election elite shouted the words tax and war, the conference room suddenly fell silent...

Benjamin Franklin, one of the three founding fathers of the United States, once said: "In this world, the only things that cannot be escaped are death and taxes."

And war, isn’t it one of the synonyms of death?

Someone seemed to be meeting this state propaganda elite for the first time. He refuted the opponent exaggeratedly and said: "We have more choices, but it should definitely not be more taxes or war!"

The head of the budget department glanced at the man with glasses and a teacher's temperament inadvertently, then smiled and nodded: "Yes, sir. We should not prepare to do these things in a hurry."

"Of course, we need to discuss these important issues carefully."

The atmosphere in the conference room gradually became more active, but anyone with enough loyalty in the interest group knows one thing - when technology and finance cannot save Guo Jia, then other blood bags must contribute more. .

The previous chapter was blocked. The ban won't be lifted until tomorrow.