Rebirth 79: I opened a bank in the United States

Chapter 988 Full of Confidence
"Zhang Nan, I haven't contacted you for a long time, how are you doing recently?"

After the Nikkei fell in early August, a more unusual scene appeared!

There is no such thing as "Black Monday", when a de-bubble action directly turned into a collapsed stock market crash under the influence of program trading, wind disasters, and a large number of stocks that did not complete delivery.Nor did it appear, that kind of slow decline, falling to the part of the vain value
Since mid-August, the Nikkei index has rebounded strangely
That's right, instead of continuing to fall, it is still pulling back.This is obviously against the common sense of economics!
Carter can understand the occasional rebound. After all, there is always confidence in the market, not to mention Japan, which is currently in the "expansion" stage.This market confidence can be described as unprecedented prosperity!
Can rebound and rebound, what is "bouncing"? !
Only when there are ups and downs is it called bombing!
It keeps going up, what's the matter? !

In his spare time from training, Carter decided to ask around these questions.
"It's the same! I recently transferred to the sales department, otherwise, you wouldn't be able to get through my phone at this point!"

Akio, who had already returned to Toyota, sighed leisurely.He didn't complain about anything. According to his resume, during this period, he was the same as Toyota's [-] employees, without any preferential treatment, and he did it all by himself.
Just listen to these words!

Maybe this is the case at work, but this group of people naturally has an advantage that other migrant workers can't match, that is: if they have achievements, they will definitely be seen!

"Hahaha, do you think sales work is easy?"

"Generally speaking, Japan's auto market is relatively saturated. To be honest, selling cars in Japan is not very easy to sell. Especially in recent years, consumers' psychology has changed. If you don't buy some imported cars, it seems that you don't have a good grade. The recent Mercedes-Benz Brands like this are selling very well in Japan! I’m currently researching their sales data.”

"You can really hold your temper. Have you paid attention to the Japanese stock market recently? That's your old business!"

"You mean to raise interest rates? I heard that interest rates should be raised again recently. Japan is indeed too crazy now! This emotion needs to be suppressed!"

Anyway, he was also a person who worked in an American investment bank. Hearing Carter's words, Akio Toyoda thought of the recent major financial moves in Japan.As for such a problem, he had nothing to hide, and directly conveyed the news he heard from Mitsui to Carter.

"Yeah, Michio Yasuda also talked to me about these things recently. It's good to raise interest rates. I'm a little curious about this call. Where does the money in Japan's current stock market come from? The news of interest rate hikes As soon as it came out, I think any institutional investor would be aware of the smell of the stock market falling. At this time, it is unrealistic for them to increase their efforts to go long. But now, what your Japanese stock market is showing is rising against the trend, so that , as you said, the Bank of Japan had to raise the benchmark interest again to suppress it."

Carter's voice was unhurried.
Although Japan and the United States are both capitalist countries, there are also differences between capitalist countries.Take the United States for example. Although it has various trade protection measures, it is essentially a capitalist country with a free market.To put it simply, domestic and foreign currencies can be easily exchanged, the market is relatively open, and capital liquidity is also high.

But Japan is different. Japan has not been a free market capitalist country from beginning to end.Even before, under the pressure of Reagan and Baker, the two finance ministers, began to reform the financial system, and now it is only moving the domestic part.Restrictions on foreign investment are still ridiculously high, and at the same time, the exchange of domestic and foreign currencies is also severely restricted.

There is no space for foreign capital to enter the big fish, in other words, the interests are irrelevant.In other words, it is not strongly correlated.Then there are some questions that Carter dares to ask, and Akio Toyoda dares to say!
"I'm curious now. Is Japan's private consumption power so strong now?! Where do they get their funds from? I probably compared the average annual income with the current market value of the Japanese stock market. Among them, there are many Obvious difference!"

"Consumption ability, it can be regarded as strong! It's hard to say how it will develop in the future, but before, including now, it was very easy to get a loan. Take my transfer to the sales side as an example, there are many customers whose qualifications are not up to the standard , and their loan applications can be easily approved”

"why?"

Carter didn't understand, although he guessed that the high probability of the inflated difference came from the loan.

It sounds crazy and unbelievable to speculate in stocks with loans, but think about Japan today, isn't it in a crazy age unique in history? !

Borrowing money to speculate in stocks may not be impossible!

However, customers with bad credit qualifications can also easily obtain loans. This is a very familiar smell: subprime loans, isn’t it? !

"Why else, the bank's money can't be sent out, but the Japanese bank is under a lot of pressure, so I can only find a way to lower the credit threshold. But it's okay, these loans, I have a look, Usually they are mortgaged, the most being a house!"

"As long as the property market does not collapse, the risk of thunderstorms in these subprime loans will not be so great"

Hearing this, Carter was a little silent.

People in the era seem to have certain limitations.Perhaps as most people think, in Akio Toyoda's view, although he smells the crisis.But in his mind, the Japanese government will definitely support the property market.
Then, if the property value does not fall, the value of the collateral will not fall.And this propped up the huge amount of subprime loans
At the same time, Carter also keenly noticed another message mentioned in Akio Toyoda's words: the bank's money cannot be released, but the Bank of Japan is putting pressure on it.

Also as a small and a half, and now a bank owner of a medium-sized bank, Carter himself has experienced times when the bank's money cannot be loaned out.

This question does not need to be asked too much.After chatting a few words and hanging up the phone, Carter began to think about this issue alone
First of all, there are several reasons why bank loans cannot be released: first, the interest rate is too high, and others dare not lend; What to do if there is no money; Third, residents have a lot of savings, and people don’t need to borrow money to buy anything, just pay the full amount directly
This third point usually does not appear, after all desire is always infinite!
But the first point and the second point obviously don't match Japan's current performance!

You know, since 86 in Japan, the benchmark interest rate has been lowered to about 2.5%. In this era, this interest rate is a fairly low benchmark interest rate globally.

And confidence, let alone, in a book titled "Japan Can Say No" published in January this year, there is such a passage: "Although the post-war world has always been led by the United States, in the 1st century, I'm afraid it will be led by Japan!"

The sales volume of this book is extremely terrifying, which shows that.
There are quite a few readers who accept this point of view, or agree with this point of view!
Japan's confidence is already off the charts, okay? !

(End of this chapter)