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Text Chapter 870 Dad who keeps improving

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    Unknowingly, Xiao Qi's leisure time was interrupted by the ringing of the phone.

    "Hey, dad, it's 11 o'clock in the evening in China, right? Mom hasn't urged you to go to bed yet?" Xiao Qi said to the phone with a smile.

    "I'm still in the capital." Xiao Xu's voice revealed exhaustion, "Since the subprime debt crisis broke out in the United States on April 2, Director Niu took me to the capital. I have been discussing with experts and scholars these past two days.  How should we deal with this subprime mortgage crisis?¡±

    After the reform and opening up, countless experts and scholars in China gradually became the spokespersons of various interest groups. This is a secret that everyone knows well.

    But there are also many real people who are doing their best to protect the country.

    Just like you can¡¯t not believe that the sun will rise again tomorrow just because of the darkness of the night, there are always a group of fools in the eyes of others who are silently devoting their own light and heat.

    Those who participated in the discussion with Xiao Xu were experts and scholars like this.

    However, it is a pity that most of these experts and scholars are gray-haired old people. Although their hearts have not changed, they have lagged behind the times and cannot grasp this rapidly changing situation.

    So they can only continue to bring in emerging experts and scholars to help them conduct research together.

    Xiao Xu has long been in their sights. He has come to the capital to discuss with them several times before due to issues such as the devaluation of the renminbi and the real estate kidnapping of the local economy.

    The "new version of the house pre-sale system" introduced after Niu Ruzheng's proposal was implemented with their support. I don't know how many interest groups were offended.

    Although the subprime mortgage crisis is now in the United States, China is the country with the largest U.S. national debt in the world.  It is also the country with the largest U.S. dollar reserves in the world. With these two mountains, China cannot help but stand on the shore and watch the show.

    China¡¯s foreign exchange reserves and purchases of U.S. Treasury bonds are all accumulated bit by bit over the past 30 years of reform and opening up.  It would be an extremely shameful thing to suffer a loss in anyone's hands.

    As a "strategic and forward-looking" financial expert with early warning, Xiao Xu was summoned as soon as the subprime mortgage crisis occurred. Everyone wanted to discuss a solution as quickly as possible.

    However, Xiao Qi could only sigh with regret, because there were not many roads that China could take.

    As long as the U.S. dollar remains the settlement currency for world financial trade.  Then the United States' insidious ways of harming others will not stop. However, the United States is the strongest, so it will not win from the beginning. It just depends on who loses less, or how to recover a little bit.

    Xiao Qi knew that his father would be asked about this, so on his mother¡¯s birthday last time.  I discussed a lot with Xiao Xu specifically.

    With Xiao Xu¡¯s wisdom and his own efforts in exploration, I believe that he will definitely receive no less praise and affirmation when he goes to the capital this time.

    After a pause, Xiao Xu asked calmly: "Son, the U.S. stock market has plummeted in the past two days, as have the Asia-Pacific stock market and the Chinese stock market. The domestic stock market has also begun to have panic. Do you think the situation will continue to get worse?"

    Xiao Qi laughed dumbly, "Dad, with the state of the Huaguo stock market, is there any need to panic? Anyway, everything is going down, and people are cheating money, no matter what, I have to say this directly.  It¡¯s good to be closed down!¡±

    "Stop talking nonsense here!" Xiao Xu was also happy, "I want to ask you something serious. If you say this, a lot of people will be offended by you!"

    "You can do it yourself. Don't let others talk about it?" Xiao Qi muttered, then coughed lightly and said: "Dad, have you looked at the three major U.S. stock indexes these days?"

    "See it."

    "Do you see any mystery?"

    "Although there have been violent shocks and huge declines, some of the most important stocks have remained motionless." Xiao Xu said eloquently: "In the next few days, I think there are only two possibilities. The first is that the U.S. government and the Federal Reserve will come forward to join forces.  To support the market, combined with some of its own large stocks, to stabilize people's hearts; secondly, the U.S. government and the Federal Reserve did not take action, and even these important components could not withstand it, and were subsequently dragged down, which then triggered a chain reaction in Western countries, with consequences  Very serious."

    "Dad, which situation do you think is more likely to occur?"

    "Of course it's the first one. Americans are not that stupid. Behind subprime mortgages is the U.S. real estate market that has been rising for more than ten years. Are they willing to let real estate collapse and then wipe out the economic development results of more than ten years?"  Xiao Xu sneered: "We are not the only ones who care about GDP, these American politicians care even more!"

    Xiao Qi nodded repeatedly after hearing this. After such a long period of experience, his father finally becameAchieved results.

    Although there are still many places in this statement that are not detailed enough, at least in the previous life, few Chinese experts and scholars could say this truth at this time.

    The U.S. government does not want to see the collapse of New Century Finance spread to a deeper level.

    In fact, the Federal Reserve has already taken action. As early as February when New Century Financial announced a profit warning for the fourth quarter of last year, the Federal Reserve loaned them money to help them tide over the difficulties.

    The Federal Reserve¡¯s action was the main reason why the subprime mortgage crisis did not break out in February!

    But who knew that New Century Financial¡¯s business was so bad that there was no way to save it, so they had no choice but to file for bankruptcy.

    If New Century Financial collapses, then it will collapse. Anyway, there are more than one mortgage companies in the United States, but the remaining Federal Reserve cannot let the dominoes fall, so they will take action again.

    But the Fed cannot react very quickly when doing things. They have many things to consider, so it is normal for them to take action after two or three days. However, small and medium-sized investors who have suffered huge losses often cannot survive these two or three days.  So a lot was lost in vain.

    "The Federal Reserve has money and the U.S. government has policies. I believe the situation will be reversed soon." Xiao Qi solemnly stated his point of view: "However, I am still not optimistic about the U.S. subprime bond market. What is exposed now will once  If it continues to be suppressed, it may be difficult to control it again the next time it breaks out.¡±

    "You said there will be a bigger storm?" Xiao Xu understood immediately.

    "Yes." Xiao Qi said cautiously, "But I'm not sure when it will break out. Everything depends on how bad their mess is."

    "I see."

    Xiao Xu said thoughtfully.

    The young man did not dare to explain too clearly, but he had already pointed out the most important things.

    Coupled with Mayor Xiao¡¯s expansion and improvement, I believe that the judgment of the future financial crisis will be more accurate.  (To be continued)
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