Chapter 78 Interim Economic Policy
The future of Nicholas II and the Japanese was rotten, Ferdinand couldn't control it, and he lit a fire and left it behind.
As a result of Ferdinand's early warning of the economic crisis, the Bulgarian government sent people to monitor the financial markets, and now some economists are aware of the crisis.
Ferdinand did not expect the economic crisis to spread to Bulgaria so quickly, and economists expected it to spread to the Balkans by the end of 1892.
The previous response plans were prepared in response to the economic crisis that would break out at the end of the year, which Ferdinand could not afford not to pay attention to.
As a novice in finance, Ferdinand could only choose to listen to the experts. As for the other time-travelers who made a fortune from the economic crisis, Ferdinand said: Without the aura of the protagonist, he would not dare to die.
At the end of the 19th century, it was a paradise for monopolies, and the economy of all of Europe was controlled by large and small conglomerates. If you want to make a big splash in the stock market, people can change the rules in minutes to make you lose all the money.
Of course, there are no big moves, there are still a lot of small moves, how Ferdinand is also one of the rule-makers, it is still possible to get a piece of the pie.
Karl, the most loyal butler, took on the heavy responsibility this time and went to Germany, where the crisis broke out first. Ferdinand is not good at finance, but it is simple to buy the bottom, and to buy bankrupt enterprises at the price of cabbage, this kind of work without technical content can still be done!
How about the harvest, Ferdinand did not have the energy to care, and now he has to deal with the economic crisis in Bulgaria.
The palace of Sofia, and now the Bulgarian government is gathered together, all of them are raising eyebrows, what a terrible word for "economic crisis".
Chekov, in particular, had just returned from abroad as a diplomatic representative, but he had seen the tragic situation in the German economic crisis, with tens of thousands of factories going bankrupt, nearly 10 million unemployed people, and human tragedies happening every day.
Ferdinand was the most calm of all, and he knew that in this economic crisis, the vast colonies of Britain and France were not seriously damaged; The industrial backwardness of Russia itself did not break out into an economic crisis.
This means that the current economic crisis is not global, and the crisis in the Balkans is mainly influenced by Germany.
"Gentlemen, cheer up, on the issue of the economic crisis, let's listen to the opinions of the experts in Rennes first!" Ferdinand said confidently
Ray Holman Austrian, one of the most famous economists in the Austro-Hungarian Empire, was poached by Ferdinand at great expense, this time by asserting that the economic crisis had spread to Bulgaria.
As soon as Ferdinand finished speaking, Rennes-Holman was not polite and said directly: "This economic crisis, which was initially caused by Germany, was mainly caused by the blind investment of the capitalists in the railways, and the repeated construction of railways in many regions exceeded the market demand, and in 1890 the German railway bubble exploded.
Then it caused the stock market to plummet, and since then the stock price has continued to fall, and a large number of companies have gone bankrupt, and it happened to encounter a poor grain harvest, which exacerbated the crisis.
After the outbreak of the economic crisis, German companies urgently need to look for markets in order to survive, and there are now signs that they are eyeing Bulgaria!
But this question is a bit strange, under normal circumstances, an economically backward region like the Balkans with a limited market should be the last option! β
After saying that, Rennes-Holman still had a puzzled expression, surprised by the performance of the German capitalists.
But Chekov's face is now pale, and the crisis is also related to his foreign visit. At that time, Germany was in the midst of an economic crisis, and many industrial products were sold in tears, so of course the delegation bought and bought, and it was obvious that the delegation's large purchases attracted the attention of the German capitalists.
Now that things have happened, it's too late to regret it. Seeing that everyone's expressions were a little weird, Ferdinand said with a wry smile: "Okay, things have happened, and our strategic purpose has been achieved, now let's find a way to deal with the next crisis!" β
"Mr. Wren, I wonder what the worst will be if the economic crisis breaks out in full force?"
Wren-Holman thought for a moment and said: "Your Excellency, Germany is an industrial power, and if we do not take measures, the domestic processing and manufacturing industry will face cruel competition. Moreover, financial markets are intertwined, and this crisis will certainly affect other countries as well, and the worst we can do is face dumping by major powers. β
Wren didn't say the result, but after analyzing the situation, everyone understood. This time, the processing and manufacturing industry in Bulgaria is going to be unlucky.
"So what can we do now? Is the government going to pay to bail out the market? Prime Minister Konstantin asked uncertainly
"Issuing an early warning of the economic crisis, so that the capitalists are ready to cut production, but it is forbidden to lay off workers without excesses! If a business is going to lay off employees, the company must first file for bankruptcy, and all shareholders of the company must not engage in this industry in the future! Ferdinand said coldly
Everyone gasped, this is to cut the meat of the capitalists. However, this is also the best way to maintain social stability at the moment.
It is estimated that the Bulgarian government dared to do this, and if it were other countries, the capitalists would have turned the world upside down.
In fact, Konstantin is also very puzzled why the big capitalists in Bulgaria are very well-behaved, and the laws introduced by the government have always been very cooperative and never contradictory, and basically the criminals are the small capitalists. and the mercenary capitalists of other countries are not a creature at all.
I can't figure it out, they can only boil it down to the simplicity of the people's customs, a strong patriotic spirit, and the fact that they know to take the overall situation into account.
Only Ferdinand knew that it was all his own vest, and of course he would not come out to sing against him.
"Your Excellency, in addition to this, can we also adopt financial control to limit the outflow of funds!" Konstantin took Ferdinand's words
"Yes! In addition, we can also start some government projects in advance to absorb the unemployed! And during the economic crisis, we can try to recruit a group of engineers from abroad. Ferdinand thought for a moment and said
β¦β¦
Then in just a few hours of discussion, the Bulgarian government came up with a set of temporary economic policies that were ready to be put into use.
Ferdinand still has some self-knowledge in the end, although many of the measures are copied from later generations, but now he still has no idea whether it will work, and asks: "Mr. Wren, you are an economic expert, how feasible do you think our strategy is?" β
Listening to the discussion of the people, Rennes-Holman was already stunned, and dared to think about these measures, could it be that the Bulgarian capitalists have changed to vegetarianism?
Hearing Ferdinand's question, he hesitated for a moment before reacting, and then reminded him with great moderation: "Your Excellency, these measures are theoretically feasible, but they seriously damage the interests of the capitalists, and I am afraid that they will cause trouble!" β
Ferdinand smiled and said: "As long as it is feasible, the Bulgarian capitalists are very high-quality, they will take care of the overall situation!" Our government also has to explain it in the newspapers, I believe they will understand! β
Rennes-Holman was a little dumbfounded when he heard Ferdinand's explanation. Could it be that the Grand Duke was so naΓ―ve to believe that capitalists would sacrifice their own interests for the sake of the overall situation?
No, we must find a way to stop it, otherwise it will be spread out and let people know that I participated in the formulation, and my reputation will not be ruined. Then he turned his attention to the cabinet for help, and everyone had a look of approval.
Wren wondered, could it be that the top brass of the Bulgarian government has collectively gone crazy? Or is it true that the quality of the Bulgarian capitalists is so high?