[Chapter 495: The Feast of the Crocodile]
NBC and the Auto Union's public feud amused the Washington boss and his associates. After all, those workers didn't hold them in much regard; no matter how nice they were to them, they wouldn't gain their support.
As for the Donkeys, they had nothing to complain about. The auto union's ballots were indeed very important, but the support of other voters mattered equally.
Now was not the time for petty arguments over wages; the topic being discussed was very taboo. There had long been rumors that Kennedy planned to expose this matter, and things took a tragic turn.
If they decided to stir up trouble now, William White would definitely escalate the situation. If this guy went digging up old records, they might find themselves in deep trouble.
Their options were truly limited. To be precise, ignoring the whole situation was actually their only choice for now.
As for the anger of the Auto Union, well, they were free to express it. William White was a much tougher opponent than the President. In a sense, his actual power rested on no constraints.
...
"Sir, Morgan Stanley and Citigroup have started unloading, and those Japanese consortiums are also reducing their holdings."
"Ha! Does that mean the feast is over?"
Filson chuckled bitterly. The boss's choice of words could've been better; why couldn't he just say it was time to cash in?
"Sir, it's unlikely we'll see a direct market crash. As long as those guys don't sell their short positions, the Japanese folks need to hold their positions. The land prices in Japan have surpassed twenty trillion dollars. Meanwhile, the U.S. stands at only about five trillion. That's just insane."
"Let's not dwell on them. I want to know how this position is maintained. With so many consortiums dumping stocks, it's not something those housewives can handle. So, their stocks are bound to fall."
"Right, sir. The stocks can't hold at these high levels; they won't let Japan change its land policy."
"Ha, is that so? If that's the case, what kind of fool would be willing to take over?"
"Sir, our think tank predicts they will further boost the exchange rate. If the rate breaks a hundred, a good chunk of capital will still pour in. The Fed has gone crazy, continuing to print dollars."
William White pieced it all together. He remembered that the Nikkei Index had dropped by the end of '89, and they only popped their enormous bubble in '91.
Before that moment, he hadn't understood the crucial points and had chosen to exit early with profits. Looking at the current situation, he clearly missed out on another opportunity.
The prices of real estate and land hadn't significantly declined. The liquidity in Japan's financial system remained excessive. To avoid asset depreciation, this money had to be invested.
William White shook his head and said, "It ain't that simple. Concentrated selling is a bad idea. I've heard Japan might raise interest rates."
"Indeed, sir. The initial plan was to significantly hike interest rates to curb rising land prices; they even came up with a bunch of policies."
"Let me guess, our Treasury Secretary must have laid down the law."
"Right, sir. They say the Secretary is quite furious."
"Did they accuse Japan of violating free market principles?"
Filson could only express his admiration. He honestly couldn't understand it. The Secretary's reasoning was somewhat absurd.
The Japanese folks were not fools. Nowadays, the automotive sector there surpassed that of the U.S., and their home appliances did too. Their national assets also exceeded those in America.
Truth be told, Japan wasn't ready to replace the U.S. Becoming the world's largest creditor nation had already filled them with dread. If they truly surpassed the U.S., it would be a whole different ballgame.
Guess what? Little guys ought to have the awareness of little guys.
"Ha! This is really something to look forward to. Those guys have such a thick skin."
Filson honestly didn't know what to say. He'd seen his share of unreasonable folks, but never had he witnessed such blatant audacity. Although he was a genuine cowboy, he had never observed such outright robbery. It was like holding someone down to bleed them dry, all while forbidding resistance.
"Sir, the forces involved here are enormous; England is also cashing in on the chaos."
"Gee, I hope the Japanese folks can endure this. If they can't hold it together, a lot of people are going to be unhappy. Hahaha, Filson, these thieves have truly lost their sense of decorum."
William White grasped it all. The whole world was inflating bubbles for Japan. Now they were scared and wanted to pop that bubble.
Sorry, but market measures were the only option. Anything resembling an executive order was absolutely unacceptable.
This time, the Japanese folks were really in a tight squeeze. As the exchange rate appreciated, they couldn't let it reach a breaking point. They needed to allow those greedy crocodiles some room to maneuver. To cool down an overheated economy again faced resistance, they needed time for those well-fed individuals. Otherwise, it would just be a real mess.
To claim he felt no jealousy would be unreal. He was treading carefully while those jerks were having a grand time. When it came time to settle the score, others might very well end up richer than him.
...
What he didn't know was that Morgan Stanley was also feeling the pressure, lamenting over his luck as well.
"What? They sold everything off?"
"Yeah, sir. His properties started liquidating a year ago, and now he's probably left with nothing."
"Even his secret accounts?"
"Yeah, that's untraceable. It's all through various funds, and he's quite cautious. We can't even estimate a rough amount."
"Ha, of course, coming from a prominent family, no matter how much they decline, it's still tough to deal with."
"Sir?"
Seeing his subordinate hesitating to speak, the old man couldn't help but chuckle. "Come on, don't be shy. Spit it out." Morgan Stanley had profited significantly in Japan, and while he might envy William White, he didn't give it much thought. They would never earn more than he did.
"Sir, we've received some uncertain news: that Chinese girl had twins for him."
"Twins?"
"Yeah, so now he actually has three kids."
The old man froze for a moment. He genuinely couldn't fathom what the billionaire was thinking. If he had twins, wouldn't he be marrying her first?
Such thoughts were quite normal; America's wealthy class operated this way. They just showcased monogamy for a stretch, then swapped partners once their wives passed their prime for childbearing.
While that sounded harsh, it was the stark reality. Just because those desert tycoons could take four wives, it wasn't easy for them. At least, when the time came to swap them out, it wouldn't be so simple.
*****
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