Chapter 116

Bubble warning. Washington, DC, is the center of American politics. As I exited the airport, I was surrounded by reporters. “CEO Kim Shin, I understand that you are attending a business meeting organized by President-elect Biden.” There were over a hundred journalists. I wondered if there were so many reporters in the economic and political departments of the media. Reporters from media outlets in the United States and many countries around the world were in Washington. The reason reporters flocked to me was probably because my reputation or social status was higher than I thought. ‘Let’s not just make an accident.’ I wasn’t used to dealing with reporters. I don’t know if it’s one or two. It was a mess with the crowd of reporters. “Are you sure of the success of the Earth Channel?” “You accepted Biden’s invitation. Is there anything you want to say to the elect?” “When will coronavirus stabilize? One word, please!” Reporters raised their hands and poured out various questions. When the corona vaccine came out, it was a matter related to life, so I had no choice but to be careful about meeting with reporters. While attending the business meeting, I just wanted to brighten up the event. For reporters, it would be sufficient to give a good answer to write an article in moderation. “A lot of people like the Earth Channel. Although we have taken a successful first step, we believe that continuous efforts are more important. We will produce and discover a lot of content, and we will try to give you fun.” A model answer that will satisfy you while talking about the Earth channel. It was an answer that could come out because I studied expected answers with Lee Jong-yeop on the plane. Isn’t Korea very specialized in infusion education? “What do you want to say to Biden-elect?” A CNN reporter raised his hand and asked. “Well… … .” What to say to the president-elect of the United States You shouldn’t be arrogant about the president elected by the people. I didn’t even have a clue. “I don’t know much about American politics. But he is the one chosen by the good voters of America. I hope you will spread good politics.” It was just the right amount of lip service that wasn’t too much. After giving brief answers to reporters at the airport, he took a good rest at a luxury hotel in Washington. It arrived two days in advance, so I had plenty of time. Lee Jong-yeop said with a smile. “Hyung-nim, it seems that the response was okay.” “Right?” “If you turn on the TV, you will see the interview. The evaluations of the presenters are also favorable.” After becoming famous, whatever I did came out easily on TV. “Not really. I don’t want to look for it on purpose.” “There is time until the meeting, would you like to take a tour of Washington?” “I feel uncomfortable because of the reporters. Let’s rest at the hotel and attend a meeting.” “Yep. All right.” I was planning to rest lightly in Washington, but a guest came to the hotel where I was staying. “Hey, see you in Washington.” “Nice to meet you.” Elon Musk, an eccentric genius, became the world’s richest man thanks to the rise in Tesla’s share price. Since the last time we met, there has been a lot of change in the property we have. In my case, the money I made from Tesla’s stock price rise was over $50 billion, so I raised my spoon firmly. “Congratulations on the success of Earth Channel. Haha. Did you say that there are already over 300 million people? I can’t wait to see how many people will watch the Earth Channel.” “I am happy that the public likes it, but it is a burden. We are diligently discovering and investing in content.” The story about the Earth Channel has been a hot topic for a while. For entrepreneurs, the company story was indispensable. “By the way, I have to tell the major shareholder about the future of Tesla. Do you remember the last time we talked about fairness?” Tesla is said to have implemented a method of assembling a car in three steps, like Lego, in the factory: the front part, the middle part with the battery, and the rear part. “By reducing useless time, production time will be drastically reduced. Moreover, since I filmed it all at once, I even caught a robber. Tesla is driving innovation in R&D and production that no other automaker can match.” Listening to the story of Elon Musk makes me think about how far a person’s limits are. The goal itself is absurdly high, so it feels like the leap is never-ending. If it’s just a human flaw… …. “Workers need to work more.” I’m a workaholic In two years, Tesla will produce 1 million cars in China. The economic prosperity China has achieved is amazing. The Chinese market will be a key area for Tesla’s production and consumption.” China did not stop praising. He is indeed a great person, but he makes many claims that are difficult to agree with. ‘Well, this is good enough. It’s better than breakwater fishing on a windy day.’ I thought it would be better than fishing in a rainstorm or the hot sunlight. There were many things to learn from listening to Elon’s story. President-elect’s Economic Advisory Conference. The event was held in a large conference room near the White House. “This way.” It would seem rude to accept and decline an invitation from the president-elect, so I came early and sat in a corner just to fill the seat. “This seat?” “Yes. That’s right.” There was a chair just to the left of the president. Lee Jong-yeop, who followed as secretary, sent a text message while standing against the wall because there was no room available. ―Lee Jong-yeop: It seems that the older brother took on the role of the mascot for this meeting. ―Kim Shin: Mascot? ―Lee Jong-yeop: You are a young businessman, right? The image is good too. ―Kim Shin: What kind of image am I? ―Lee Jong-yeop: Challenge and success. What, such an image? He is the owner of a company that makes a coronavirus vaccine, so he is also an important person for the US government. ―Lee Jong-yeop: It’s for showing on broadcast cameras. I think you should just enjoy the moment. I think it would be okay to sit in a good seat close to the president if possible. ‘If I doze off because I’m bored, I’ll be in big trouble.’ U.S. government economic officials, Wall Street tycoons, bankers, and entrepreneurs attended one after another. “This is Shin Kim from Earth Resources.” “Nice to meet you. This is John Williams, President of the Federal Bank of New York.” Whenever people came, they greeted each other lightly and exchanged business cards. What I felt was that the other person did not look down on me or ignore me. ‘This is why I have to see money and fame.’ It’s a snobbish thought, but it reminded me of the days when I was working part-time at an internet cafe and bringing ashtrays 10 years ago. “I am also subscribed to the Earth channel. There are many interesting documentaries.” “We are trying to secure more for our viewers.” “The return on investment this year is really… …, I was surprised to see it as an article.” We had a brief conversation, and several people gathered around us. A member of the presidential transition team said. “The president-elect is entering.” President-elect Biden entered the conference room with a lightly raised hand. “Everyone is busy, but thank you for coming. Then let’s talk about the future of the American economy.” An economic advisory meeting was held. It was a meeting that was expected to be somewhat boring. ‘They’ll talk about the economy.’ For those investing in the New York stock market, there is nothing wrong with hearing people’s stories directly. It would be much more convenient to read the news on the Internet. “The Fed aims to achieve 2% inflation in the medium term, and that will be an easy benchmark. We will do everything we can to support economic growth and full employment in the United States.” “The policies that have led to the recovery of the American and global economy must be maintained.” The Fed said it would continue to use zero interest rates and quantitative easing. They were lending money to the market at low interest rates and buying government bonds and corporate bonds. “The virus has not peaked. Inflation is unlikely because industrial or consumer inventories are piled high.” “For economic growth, we need to be more aggressive in fiscal expansion.” “Companies are resuming dividend payments. The economic outlook for next year will be positive.” Managers in the manufacturing industry were demanding active government spending. “Contrary to the Wall Street Journal article, inflation is soaring and fiscal austerity is not expected to occur within two years.” “I don’t see the need to respond to temporary inflation. The Fed will not be preemptive even if inflation rises above 2% for some time.” High-ranking officials and economists showed confidence in inflation. It was a great reserve currency with a dollar, so it didn’t seem to worry about debt. “How about the stock market?” “There is controversy over the bubble in some parts, but it is judged that it is just a claim that lacks evidence. The current share price is a level that reflects expectations for healthy growth by companies in advance.” “America is coming back across industries. We believe that the current stock price rise reflects the natural trend.” Wall Street’s financiers were also positive. I listened to this story silently for about an hour. ‘According to these people, it seems that everyone will make money next year by investing.’ Even when I invested money in the New York Stock Exchange in March, I did not expect to get as much return as I do now. The market was on the verge of choking with fear. Compared to those days, I wondered if it would be a market of greed and madness now. Even Tesla alone has risen 40% in the last 9 days. A company that makes 500,000 vehicles a year has become the sixth-largest company by market capitalization in the United States. Hundreds of billions of dollars in market capitalization rose in nine days. ‘Even if the growth potential is high, it’s not even 1/10 of future cars now.’ Tesla’s situation, which is raising production while generating a surplus, was at least better. As soon as the name Untact is added, the stock price of quite a few companies rises. Actual sales or profits have not increased that much, and stock prices rise even for companies whose debts are increasing due to the coronavirus. ‘The dot-com bubble or coin proved it. No asset goes up endlessly.’ As an investor, it was difficult to have a sense of balance. Why do small investments have higher returns? It must be because there is a sense of balance. There is nothing more regrettable than not being able to eat more while others are eating. When the stock price goes down, if you wait believing that it will recover if you endure it, you will go to hell. Isn’t it the high point when everyone is making money and revealing more greed? ‘Recovery due to corona. Maybe the stock can go up more, but isn’t it time to sell it soon?’ It felt like everyone was in a rosy fantasy. I was quietly watching the meeting, and President-elect Biden spoke to me. “Kim Shin, as a miracle investor, how will the US economy look in the future?” “… … .” There was a pause in the discussion of inflation, and people’s eyes turned to me. “Can you say something to everyone?” President-elect Biden personally handed over the microphone. The station’s camera moved and was pointing at me. I was in a situation where I couldn’t get out of it without saying a word. ‘perhaps… … .’ It reminded me of when I said that I should sell it in a group chat room when the price of the coin rose for a long time. When the market is mad with greed and madness, the hope circuit is rolling for a while. ‘For some reason, the people gathered here are like human indicators.’ Even ordinary people should be afraid to go into debt, but the government and banks are actively distributing money. I picked up the mic and spoke my honest thoughts. “I don’t know about the future of the US economy, but the current stock market seems bubbly.” “A bubble?” “Money is overflowing everywhere. It is said that the US government and the Fed have released trillions of dollars of money, but inflation has not occurred. So you say you can release a few more trillions of dollars to revive the economy, but do you know how much money is floating around in the investment market? The money that lifted the stock market is going to real estate and coins.” “… … .” I could feel the conference hall freezing. U.S. president-elect. Is it like pouring cold water in front of the person who is number one in the world? But I thought I should be honest. “If the government and the Fed make the wrong decisions, the American people will suffer. Rising food and housing costs will hurt people who don’t have enough money to spare. Everyone, from families with children, will suffer.” “… … .” “I think everyone needs to wake up. No one deserves to be arrogant. If you commit an irreparable mistake, the people will suffer the damage.” As I was talking, I felt like I was having a super accident.