On October 24, the United States ushered in its "Black Thursday" (a sudden plunge in the Wall Street stock market). On this day, the American financial world collapsed, and stocks fell from the top to the abyss overnight, and the price fell so fast that even the automatic display of stock quotes could keep up. On October 29, everyone on the New York Stock Exchange was caught in a vortex of stock selling. Stock indices have plummeted by an average of 40 percent from their previous peak of 363, and thousands of Americans have watched their life savings evaporate in a matter of days. This was the darkest day in the history of U.S. securities and the most influential and dangerous economic event in U.S. history, affecting Western countries and even the whole world. After that, the United States and the world entered a decade-long period of economic depression. As a result, this day is considered a symbolic* event at the beginning of the Great Depression, and since it falls on Tuesday, it is known as "Black Tuesday". In just two weeks, from October 29 to November 13, $30 billion in wealth disappeared, equivalent to the total U.S. spending in World War I. But the collapse of the U.S. stock market is nothing more than the crater of a catastrophic economic crisis.

“…… One of the distinctive features of the stock market crash in the first six years of the Taichu period was that it lasted for a long time and the situation continued to deteriorate; The day before it looked like it was coming to an end, but the next day it turned out to be just beginning. Therefore, it is neither possible to estimate with certainty the most severe damage it will cause, nor can it be guaranteed that a general catastrophe can be avoided as much as possible. Those who were lucky enough to borrow money to deal with the first margin call order had to deal with the speculators of the past, and then they had to try to solve the second call order; Even if the second one can be dealt with, the third and fourth reminders will follow. At the end of the day, speculators will lose all their money in the stock market. The Americans watched in amazement as huge amounts of assets evaporated, and the tycoons of the previous day were today debtors with nothing, and debts, and jumped in line from the Empire State Building. However, the Empire State Building show was later canceled because the Japanese bought the building from the Rockefeller consortium, and security guards dressed as Japanese samurai guarded the building to prevent an American who did not have a $100,000 bank deposit or equivalent proof of real estate from entering the building, lest their flesh and blood stain the building's parking lot and green belt.

"In general, the stock market crash in the United States has begun to spread, the European stock market has begun to fall hard, and the stock market in Tokyo has also begun to plummet, so I think we should also be prepared." Yan Xishan, who is in charge of finance, Yan Laoxi is already fifty years old, but he is still in good spirits, and he has done a good job in the position of Minister of Finance, which has dealt a lot of blows to those who attack Wu Chenxuan's dictatorship, after all, Yan Xishan used to be a heavyweight warlord against Wu Chenxuan, but he was entrusted with a heavy task by Wu Chenxuan and was in charge of the country's finances, I have to say that Wu Chenxuan's open-mindedness makes people have nothing to say.

"Well, Minister Yan's concern is very reasonable, our stock market monitoring and foreign exchange market supervision should be strengthened, and the social investigation department should be fully involved, and no one will be allowed to enter China's stock market and foreign exchange market without the monitoring report of the social investigation department. Minister Yan, do you think this is okay? Wu Chenxuan's calm answer made Yan Xishan almost lose his breath, and it was easy to wait for the stock market to dive, and the Shanxi businessmen who were waiting to exchange the silver for industry were going to be disappointed again. Not to mention that China's stock market is independent of the international stock market, and there is basically no room for speculation under the strict financial disclosure policy, and even the strength of the four major banks and the ten major chambers of commerce is enough to swallow up even the scum of those who try to fish in the muddy waters. China's strict monitoring of the foreign exchange market makes the flow of every amount of money clear, and those who attempt to violate the law will be fined and confiscated. If you try to manipulate the stock market by all means, you will find that China's banks and chambers of commerce are simply Buddhas, and if you are allowed to change, the Ten Thousand Buddhas will crush you under the Five Fingers Mountain. The monitoring of the foreign exchange market makes the flow of foreign capital completely transparent, but the strength of China's major chambers of commerce and banks is like a bottomless pit, once it enters the hedging stage, it basically ends with the victory of the Chinese side, but in addition to the strict foreign exchange supervision, China has not used other administrative means to interfere, and foreign capital that has lost the stock market has to be willing to gamble and lose. As for the counterattack against Chinese forces in foreign stock markets, it is almost an extravagant hope, because China's major chambers of commerce and consortia basically invest in domestic projects or directly invest in foreign resource projects, and basically they are wholly-owned acquisitions or absolute controlling stakes, basically do not give foreign capital much opportunity to intervene, and it is no problem to make some money by hitchhiking, but once you plan to take control, you will be counterattacked by Chinese shares, and even cancel the entire company and simply break up.

Under the influence of Wu Chenxuan, in addition to the Sanjin Chamber of Commerce, the other chambers of commerce have their own industrial fields, such as grain and cotton spinning and shipbuilding machinery of the Jiangsu and Zhejiang Chamber of Commerce, wood processing and iron and steel metallurgy of the Liaodong Chamber of Commerce, non-ferrous metals and hydroelectric power generation of the Yunnan-Guizhou Chamber of Commerce, coal chemical industry and heavy machinery of the Sanqin Chamber of Commerce, flour, grain and oil and hardware and electromechanical of the Central Plains Chamber of Commerce, of course, the most comprehensive is the Shandong Chamber of Commerce, from aircraft and tanks to watch needles, all-encompassing. And basically are the representatives of mainstream products or high-end products, the high market share makes it difficult for other chambers of commerce in addition to the Jiangsu and Zhejiang Chamber of Commerce to match, and because of this, the life of financial capital in China is not easy, all kinds of speculation are strictly prohibited, once offended, it is almost the end of bankruptcy.

"But then we can't attract foreign investment." Yan Xishan also hopes to use foreign capital to move Wu Chenxuan, but Wu Chenxuan is very wary of the current international hot money. So Yan Xishan had no choice but to return disappointed. China's stock market is calm and in stark contrast to the plunge of the international stock market, but the international financial predators have no way to take advantage of China's iron curtain. However, in the hearts of American stockholders, apart from European Jewish vampires, the most hated are those who show off their power and wield money to buy American companies. In the face of the intensifying plunge, European countries have to put away their minds about watching jokes.

A person wants to keep warm, it is easy to light the wheat straw stack, the fire is also very warm, and even a few people singing and dancing around the fire and drinking wine is also a beautiful thing in the world, but then the fire spreads, and the whole mountain and forest are ignited, it is not a good time to see the excitement, usually in addition to the fire fighting smart people who are not self-conscious, they prefer to find a pond to take refuge for a while, but this time it is a pity that the owner of the pond locked the door, in the face of the fire they lit, full of approaching, these smart people finally understand the truth of playing with fire.

At this moment, in the School of Economics of Shandong University, some people are also analyzing the causes and consequences of this catastrophic fire. Miao Ruoxi, who looks like a female doctor, is a guest teacher teaching a group of lecturers and professors in economics, and the amount of information on the economic crisis in her hands is not comparable to that of these professors.

"Taken together, the main causes of the outbreak of the economic crisis are as follows: First, the uneven distribution of income. In 1929, "the top 5 percent of the U.S. population accounted for about one-third of the total U.S. personal income." …… A highly unequal distribution of income means that the economy depends on high levels of investment or consumer spending on luxury goods, or both. …… We can assume that this upscale consumer spending and investment was particularly susceptible to the October 1929 stock market renews of the year. ”

The second is that the company structure is unreasonable. "American corporations in the twenties of the twentieth century were hospitable enough to open their arms to a large number of agitators, bribe-takers, impostors, and crooks. As a result, the situation of illegal misappropriation of company property has reached its peak. The most important corporate flaw is the large structure of holding companies and investment trusts. ”

The third is the irrational structure of banks. "This deficiency is inherent in many independently operated banking institutions. If one bank fails, the assets of the other banks are frozen, and depositors of other banks compete to withdraw their deposits. Therefore, the bankruptcy of one bank will lead to the bankruptcy of other banks, and it will spread like dominoes. A local calamity, or mismanagement of a bank, often leads to such a chain reaction. ”

Fourth, the problematic balance of payments. At that time, the United States maintained a high trade surplus in terms of import and export trade, and other countries had a large trade deficit with the United States before. The deficit countries wanted to increase exports to the United States to achieve balance, but the Hoover administration resisted by raising tariffs dramatically. As a result, the debts lent by the United States to other countries were not repaid, and at the same time, exports fell sharply due to the counter-boycott, which caused a general disaster for the United States, especially the United States.

Fifth, there is a lack of economic knowledge. "The economists and economic advisers of the late 20s and early 30s of the 20th century seem particularly absurd". "Almost all of the policies since then have led to a deterioration of the economy."

The twenties after World War I were called the "New Era," and wealth and opportunity seemed to open their doors to Americans who had just won World War I. The whole society is rushing to new technologies and new lifestyles, and "conspicuous consumption" has become the trend of the times. President Hoover also believed that "we are on the eve of a decisive war on poverty, and that slums will disappear from the United States". It's a pity that Hoover would soon become the biggest joke in American history, and without one, on Hoover's ass, the shoe prints that kicked him off the cliff were so messy that one would surely overlook a size 42 military boot print and his owner, our beloved Führer Wu.