Donnie smiled as he shook hands with the two of them and said, "I’ve heard of you, being able to work alongside Mr. President, I believe you must be very capable people!"
Willis Hawley was born into a farr’s family; after graduating from college, he went from being a private school principal to a history and economics professor, then to the president of Willatte University, and only then did he enter politics.
He served long-term as a Representative for Oregon!
Reedsmoot’s family situation was quite similar to Willis Hawley’s, except that Reedsmoot was a Senator from Utah!
Before Donnie arrived at the White House, Café Jackson had already briefed him on their basic details, but at that ti, Tang Fei’s attention was on the protesters outside the car, so he didn’t care about their situation.
However, Donnie felt that the nas of these two people sounded sowhat familiar, as if he had heard them sowhere before!
Willis Hawley and Reedsmoot both wore brilliant smiles. To ordinary people, the two of them were already significant figures, but to them, Donnie was the real big shot!
"To be rembered by Mr. Block is my honor!" Willis Hawley said while shaking hands with Donnie.
Reedsmoot also said while shaking hands with Donnie, "Mr. Block, your success represents the Arican spirit, the victory of the Arican spirit!"
Donnie didn’t understand what his success had to do with the Arican spirit, but he couldn’t refute Reedsmoot either.
"Since Mr. President introduced you two to today, I think you must have so ideas that impressed Mr. President, why don’t we just get straight to the point!"
Now, Donnie didn’t need to be polite with them at all.
They didn’t find anything wrong with Donnie’s attitude.
So after everyone was seated, Willis Hawley spoke.
"Mr. Block, according to our current analysis, the biggest reason for the country’s economic downturn and stock market crisis is actually product surplus and the previous general optimism about the stock market!"
Donnie did not speak because everyone knew this kind of thing, saying such useless things was pointless!
Seeing that Donnie did not speak, Willis Hawley continued, "These issues have caused problems in the current Arican economy, and they also affect the President’s image in the public’s mind.
So we think that to reverse this situation, we need to make so changes and take so actions now!"
Donnie’s expression showed so impatience; if they were only spouting such nonsense, Donnie wasn’t going to give them any more ti!
Reedsmoot noticed the change in Donnie’s expression and took over from Willis Hawley, continuing to speak.
"We believe that first, public confidence in the stock market should be restored, so in this regard, we hope to gain your support, Mr. Block..."
Donnie finally spoke up, directly interrupting Reedsmoot.
"Mr. Smoot, do you know how much money Venus Bank has invested in the stock market thus far?
The best way to deal with the stock market now is to find a way to solve the problem of dostic manufacturers’ overproduction. If the products produced cannot be sold, then these factories have no profit; not only is there no profit, but it will also lead to losses.
This will make shareholders increasingly distrustful of these listed companies.
Even if Venus Bank throws all its cash into the stock market, it will only create a false prosperity that will be exposed in less than a year. Do you think anyone will still trust the Arican stock market then?"
Donnie’s words made Reedsmoot blush slightly, but he didn’t dare to retort Donald; he just waited until Donnie finished speaking.
Reedsmoot then continued, "So our second thought is to find soone to take over these products, so long as these products are sold, the problem you are worried about will naturally not occur!"
Donnie leaned back on the sofa, suddenly smiled, and said, "Mr. Smoot, I hope what you’re going to say next isn’t about asking Venus Bank to buy those goods!
If that’s the case, I will seriously doubt how you even got your title of economics professor!"
Reedsmoot showed a hint of anger for the first ti in front of Donnie.
But he didn’t know how to continue speaking because that was exactly his idea!
"I told you your idea wouldn’t work, but you insisted on saying it, and now, fortunately, Mr. Block is sitting here, our friend!"
Herbert Hoover chuckled, lightening the atmosphere of the scene!
Then Herbert Hoover said to Donnie, "Block, their ideas are actually just simple thoughts, don’t take them to heart. Actually, our real idea is to shift internal problems to external ones.
As long as the conflict is shifted outward, everything will be easier to handle."
Facing Herbert Hoover, Donnie was naturally not so aggressive anymore and smiled, "What does Mr. President intend to do?"
Herbert Hoover said, "Block, do you still rember a proposal I put forward during my previous election?"
Donnie showed a slightly puzzled look. Herbert Hoover had put forward many proposals during his presidential campaign, but which one he was referring to now, Donnie really didn’t know!
Herbert Hoover didn’t really expect Donnie to guess; he continued, "At that ti, I promised the vast Arican farrs to raise tariffs on agricultural products, in order to save the continuously falling prices of dostic agricultural products!"
The overproduction in the United States had actually shown so signs before World War I began.
This phenonon was particularly pronounced in agriculture.
In the early 1920s, the production of various agricultural products in the United States increased dramatically, but the increased production was accompanied by falling prices.
The harvest was getting better and better, but the inco remained unchanged, and Arican farrs’ grievances grew more and more.
They believed that the crux of the problem was the low tariffs that let foreign goods flood the dostic agricultural market, causing farrs to all be busy for nothing.
At that ti, Herbert Hoover noticed this point, so when he was trying to win the votes of Arican farrs nationwide, he ntioned that after he beca President of the United States, he would raise tariffs on agricultural products.
But after Herbert Hoover took office, it seed he forgot about this thing, as he never fulfilled this promise.
If the Arican economy could continue to be maintained, then he probably would have never thought of this proposal until he stepped down.
But things were different now. With the onset of the stock crash and the arrival of the Great Depression.
Herbert Hoover was on the verge of becoming a public enemy, and if he wanted to win back his lost votes, he had to prove to everyone that he was a man of his word.
If he promised to raise tariffs on agricultural products for farrs, then he would raise tariffs on agricultural products.
Herbert Hoover hoped that doing so would enhance public trust and then he could make a public speech, indicating that the current situation in the United States was only temporary, that all the crises would soon pass, and that the Great Depression everyone feared would not arrive!
Donnie finally understood why he felt the nas Willis Hawley and Reedsmoot sounded familiar when he heard them!
It turned out that they were the famous duo embedded beside Herbert Hoover during the Great Depression, the "hidden dragons and crouching tigers"!
After the onset of the Great Depression, the United States signed the "Smoot-Hawley Tariff Act," one of the famous global-impact laws of the 20th century!
Having a law nad after soone is an incredible honor for many people.
But for Willis Hawley and Reedsmoot, they certainly wouldn’t think so.
Because the universal evaluation of this act by both the world and the United States is: a foolish economic action!
Donnie also finally realized why the nas of these two people felt familiar to him!
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