Although the policy measures to stimulate the economy are a bit rough, the advantage lies in simple and effective. The Vienna government just announced the "Ring Railway" plan, and the market responded.

On April 26, 1894, when the Vienna stock market opened, the infrastructure sector led the market with a high of 7 points, breaking through 20 points at one point in the middle, and finally closed with a sector increase of 11.6%.

Steel, cement, construction machinery and equipment, banks and other sectors related to railway construction have also rebounded upward.

Affected by this, the Vienna stock market rebounded 3.62%, setting the largest rebound since the stock market crash.

Then there was nothing. Since the stock market crash, the Vienna stock market has been falling all the way. At its worst, the overall drop was as high as 74.3% compared with its peak. Even if there was a rebound, the market index was only 30% of the peak.

The market has fallen so badly, and it is conceivable how deep the market's confidence has collapsed. There is no way, the freely developing stock market is so willful.

Relatively speaking, the infrastructure and steel sector is pretty good. As a mature industry, the market ceiling is in front of everyone, and its valuation is not high. It is supported by large projects for post-war reconstruction, so it naturally cannot fall much.

After this wave of rebound, it basically returned to three-quarters of its market value at its peak, barely out of the crisis.

The hardest hit area of ​​the stock market crash is actually an emerging technology industry. Without performance as support, just a "good story" supports the market value. Once the bubble is burst, it will fall so much that it will not even recognize it.

Fortunately, I put on a vest, otherwise Franz would not dare to go out to see people now. Technology progress also comes at a price, and relying solely on personal power would be too small.

In order to accelerate the technological development of the empire, Franz chose to let the company go public and raise funds without hesitation. Scientific research requires luck, so there are often multiple research groups for a project.

I caught a sheep and fleece. The light efficiency was too low and it was obviously impossible to meet the demand. But this is not a problem for Franz. Anyway, there is no Internet these days, so it doesn’t matter if a story is told several times.

From Vienna to London, in all larger financial markets in Europe, there are technology companies with royal consortiums listed. If the overseas markets were not immature, it would probably be ranches on the five continents.

Although the wool is a bit powerful, compared to his colleagues, Franz is definitely a conscientious entrepreneur.

Unlike the high-tech winner-takes-all in later generations, it is just starting out now. Anyone who passes the track on one track can become a "great enterprise".

The only regrettable success rate is low, so a little bit too. In the past three decades, there have been no less than 2,000 technology companies invested in and listed by the royal consortium. One quarter of the companies have gone bankrupt, and 70% of them are working hard. Only less than five% of the companies have lived a very comfortable life.

Just look at the data and know how pitfalls these high-tech projects are. There is no way, who made Franz a poor student in his previous life?

Many times when the project is launched, the emperor has a sudden inspiration. There is definitely no specific technology, most of the time, there is no concept, and only functional requirements.

For example: a food refrigerator that can be refrigerated, an air conditioner that can refrigerate, a TV that can play videos, and a computer that can't explain clearly...

A series of "high-tech" projects, regardless of how many years ahead, Franz just put forward the needs and then evaluated by scientists. If he can't find a clue and don't know where to start, he will pack it and go public for financing.

Anyway, stories are good stories. Every family needs machines for refrigerating food. Machines that can adjust indoor temperatures also have huge market potential.

As for whether it can be done, when can it be done?

Sorry, this is sacred scientific research. As long as it can be realized in theory, the stories told can convince investors, that is enough.

The final result is very obvious. The more advanced the project, the more miserable it will die. Only a very small number of lucky people can stand out. And a large number of these companies have gone astray and have undoubtedly made profits by creating by-products.

For example: the refrigerator was not created, but the ice storage technology was broken through; the TV was not built, and the movie projector was first released; the shadow of the air conditioner was not seen, but the fan technology was improved...

Lucky people are always a minority. Most companies have no breakthroughs in their main business and no side businesses, so they can only rely on continuous financing to make a living.

It was okay before the stock market crash, but there were successful examples that stimulated that investors were relatively tolerant of high-tech companies. Many capital consortiums all fooled them into jumping into the trap.

After all, the high-tech enterprises created by the royal consortium are indeed engaged in scientific research. The financial accounts are also clearly tidy. In addition to not making money, they are a conscientious enterprise.

After the stock market crash broke out, the truth was revealed. Everyone suddenly realized what the company they invested in was.

Huge amounts of funds have been invested, and no profit has been made for many years or even decades, or a company that only maintains small profits is not garbage?

It would be fine if it was just like this. After all, there are still a series of special train technologies, and they might be used one day. However, the valuations of these companies are quite high, with a price-to-earnings ratio of hundreds of times, and in addition to bubbles, they are still bubbles.

In fact, this loss is the result of the intentional manipulation of the royal consortium. Using other vests, these companies can earn some income in side businesses.

The hole is too big and there is no way to settle the account, or the R&D team's ability is indeed chili, so they will be abandoned and left to bankrupt.

This month, there is another technological breakthrough in a few months. Positive news emerges one after another, constantly stimulating market confidence. Companies are financing more and more, and their market value is constantly expanding.

If it weren't for the stock market crash, this game of passing the crowd could have continued until one day the technological breakthrough and then another story.

Unfortunately, there is no if in reality. Now that the bubble has burst, such companies without performance support will naturally fall a lot.

"Cutting halfway" and "Cutting halfway" is just the treatment of five percent successful people. The overall decline in the technology sector is 80 percent higher, and some individual stocks even fell as high as 99.9 percent.

If you calculate your wealth based on market value, after the stock market crash, Franz's paper wealth evaporated by at least 8 billion ASCH, which is more than the sum of the annual fiscal revenue of countries around the world.

The bubbles you blow out naturally have to swallow the bitter fruits themselves. Of course, this is just superficial. If you study in depth, you will find that since the outbreak of the European War, the major shareholders of these companies have begun to reduce their holdings.

The major shareholder is still a major shareholder, and only a small part of the shares they have reduced their holdings. However, it is this small part that can be bought now.

Franz, who made a lot of profits, is not happy now. He used to be fetching and used other people's money to do scientific research, so he naturally doesn't feel sorry for burning it.

The situation is different now. There is no way to raise funds in the market. These awesome high-tech companies are on the verge of bankruptcy and are about to fall into their own hands.

There are only two ways before Franz: either invest to save these companies by himself; or the hero cut off his arm and throw away these gold-swalking beasts.

There is no doubt that neither of these two paths is a good choice. "Investment" is simple to say, but it is definitely a tears to do it.

You should know that this is not just one or two, but thousands of companies are asking for money. Franz is not worth a lot of money and can’t stand such a spendthrift.

"The hero cut off his arm" does not suffer any losses in the short term, but all the previous efforts have been wasted. Moreover, with this lesson, it will not be so easy to make up stories in the future.

There is no way, the stock market crash came too quickly, and as a major shareholder, he could not escape. What's even more tragic is that during this stock market crash, Franz missed his own industry while shorting because of his conscience.

A momentary mistake created eternal regret. Franz, who missed many millions of dollars, suddenly realized that he was a poor man.

After hesitating for a while, Franz said helplessly: "Present-Present, find someone to carefully screen them, and all companies with serious losses and no results will be bankrupt and reorganized.

The remaining companies also need to reduce expenses, reduce scientific research funds, and develop side businesses as much as possible.

The royal consortium secretly provides certain help to these companies as much as possible. In principle, we give priority to helping our domestic companies, and overseas companies should give up.

In addition, people were sent to acquire stocks of high-quality domestic companies from the secondary market. It was not far from the bottom, and it was time to rebound in the future."

The stock market that squeezed out the bubble would be a mess. Compared with the valuation of dozens of times or hundreds of times before the stock market crash, the valuation of several times now seems to be much more pleasing to the eye.

The hero cut off his arm and cut off some of the companies with serious deficits. Franz's heart was bleeding and he urgently needed to buy some of the high-quality assets at the bottom to supplement it.

Palace Prime Minister Miraberon persuaded: "Your Majesty, now it is the end of the economic crisis. If we have a large-scale bankruptcy liquidation, our losses will be huge.

It is better to let these companies transform. When necessary, the consortium can help them create performance and increase their stock prices and find opportunities to throw them to the buyers behind them."

In fact, this is also the reason why the consortium likes to play finance. Not only does it make slow profits in business operations, but the key is that it will suffer heavy losses when encountering an economic crisis.

In contrast, it is much easier to play finance. The "economic crisis" not only has "danger" but also "opportunities".

It is a catastrophic crisis for ordinary people and enterprises, but it is a great opportunity for financial consortiums.

When a crisis breaks out, you can play short selling; after the crisis breaks out, you can buy at the bottom; after the crisis ends, you can turn around and sell the companies you buy at the bottom and wait for the next round of crisis to continue playing.

The capitalist world, an economic crisis every ten years, is not only a market self-regulation, but also the guys behind the scenes want to harvest when the fruits are ripe.

Otherwise, if such a big economic crisis is so obvious, how could everyone not notice it?

Franz shook his head: "I think you've misunderstood. This economic crisis has not ended so easily. Although it is almost at the bottom of the valley, it is still a long way from the end.

The most optimistic estimate is that the empire will not get rid of the Great Depression next year. As for other countries, it must be based on their respective situations. Preliminary estimates that it will take at least two years to completely get rid of the crisis.

It will take longer to get the market back to restoring confidence and finding a new buyer. If we don’t close these companies with serious losses, we will suffer greater losses if we keep going."

Unlike in the past, this economic crisis was artificially postponed. According to the normal economic development context of the capitalist world, there were signs of an economic crisis three years ago, but the original location was in France.

If the European War had not broken out, the first one would have exploded were the French. Perhaps it was because they realized the seriousness of the crisis that the French would have chosen to start a war before the bubble burst.

While the war is diverting the crisis, it also brews a new crisis. If the European War just ends and lets the crisis break out, then it may have been over for a year and a half.

Unfortunately, for their respective interests, the British and Austrian governments took action to delay the outbreak of the crisis. The bull market was artificially extended for more than a year, the market doubled again, and the bubble was blown to an unparalleled level.

The bigger the bubble, the greater the damage it will bring. The Vienna stock market evaporated three-quarters directly, and other financial markets are similar, and the lethality brought is far beyond the reach of previous economic crises.

Upon hearing this bad news, Miraberon's face changed drastically. The Great Depression, which lasted for more than two years, was simply comparable to the Great Revolution in 1848.

If the Holy Roman Empire cannot take the lead in making the world economic recovery, perhaps the European continent will reappear again in the 1848 Revolution.

In a sense, the current European world has a more foundation for an outbreak of revolution than in 1848.

The wave of unemployment that affects various countries, the deteriorating economic situation, complex international contradictions, and the hatred between European countries are all hotbeds of revolutionary ideas.

The French, unwilling to give up their defeat, Spain, which was deeply trapped in the quagmire of the Philippine War, Portugal, which was about to exert its brains, and the Italian states, whose independence situation was not yet stable, all had the basis for a revolution.

As the new and oldest Holy Roman Empire seems to be majestic, but in fact it has reached a crossroads. Once a wave of revolution broke out on the European continent, the Vienna government will be in trouble.

Especially there is a Britain who is staring in the dark and trying to make trouble; and the Tsarist government, which seems to have restrained its edge but is ambitious.

In this context, if the royal consortium does not hurry up and endures the pain of cutting its flesh, it may not even have the chance to cut its flesh.

...
Chapter completed!